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Singapore and India Sign Landmark Economic Pact

  • Kyaw Nyunt

Singapore and India have signed a economic pact on Wednesday to help enable a big leap in bilateral cooperation.

Prime Minister Lee Hsien Loong of Singapore and Indian Prime Minister Manmohan Singh signed the agreement - the 739-page Comprehensive Economic Cooperation Agreement (Ceca) - at New Delhi's Hyderabad House.

The agreement, haild as historic by leaders of both countries, will also help tackle terrorist organizations and their sources of funding.

Ceca, which takes effect from August 1, will eliminate tariffs on three-quarters of Singapore's current exports to India or substantially reduce over five years.

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