S'pore, India soon to seal FTA talks

S'pore, India soon to seal FTA talks

SINGAPORE: Singapore and India have agreed to complete ongoing talks on a free trade agreement (FTA) within a month, the Straits Times reported on Monday.

Both sides still have to iron out some issues but these should not be allowed to hold up the FTA, Prime Minister Lee Hsien Loong told the Singapore media on the sidelines of the Asia-Africa summit in Jakarta.

Lee said he and his Indian counterpart, Manmohan Singh, agreed during talks during the summit meeting that they would give their officials one month to complete the negotiations.

Lee said he has also accepted Singh's invitation to sign the FTA in New Delhi when the talks are wrapped up.

Statistics available from the government show Singapore's trade with India totaled S$7.9 billion (US$4.8 billion) in 2003, up 16.2 percent from the previous year. -- AFP