By IANS
Gurgaon : Singapore is India’s best friend in Southeast Asia at the strategic, economic and political levels, a visiting minister said Thursday, urging more and more Indian corporates to invest in the city state.
“Our relations have a strong foundation based on historical, economic and social ties,” said Vivian Balakrishnan, Singapore’s minister for community development youth and sports, and second minister for information communications and the arts.
He was speaking at an interactive session on “India Singapore Relations: Roadmap to the Next Level” on the second day of the three-day Partnership Summit 2008 here.
That India heartily reciprocates Balakrishnan’s sentiments can be gauged from the fact that the first meeting of the India-Singapore Strategic Dialogue (ISSD) will be held in the city-state in the first week of May to better understand each other’s views and positions on the global and regional strategic, economic and political scenario.
Also in place is a CEOs forum comprising top corporate leaders of the two countries and an India Business Forum, an association of 30-odd Indian companies in Singapore.
According to Balakrishnan, India is now Singapore’s third largest trading partner.
“Since the signing of a CECA (comprehensive economic cooperation agreement between the two countries in June 2005), there has been double digit growth of both exports and imports,” said.
Praising Indian industry for investing heavily in Singapore he said there were around 2,800 Indian companies in the city-state at present.
“Indian industry can use Singapore as a launch pad to enter the markets of the Far East… as I firmly believe that India can be as competitive as China in manufacturing,” the minister stated.