India-Singapore Economic Agreement

EENI- School of International Business

Sub-subject: India-Singapore Comprehensive Economic Cooperation Agreement. Syllabus:

1. Introduction to the Comprehensive Economic Cooperation Agreement between India and Singapore
2. International Trade in Goods between Singapore and India
3. Foreign trade in services
4. Benefits to Exporters
5. Rules of Origin
6. The Investment Chapter of the Comprehensive Economic Cooperation Agreement between India and Singapore

Sample of the sub-subject: India-Singapore Comprehensive Economic Cooperation Agreement (FTA)

Description of the Sub-Subject: India-Singapore Exhaustive Economic Cooperation Agreement.

The Indie-Singapore Comprehensive Economic Agreement entry into force in 2005.

The India-Singapore Economic Cooperation Agreement includes:

1. Free Trade Agreement (FTA) including International trade in goods and services and foreign direct investment
2. Bilateral agreement on the foreign direct investment promotion, protection, and cooperation
3. Improved Double Taxation Avoidance Agreement
4. More liberal Air Services Agreement and Open Skies for Charter Flights
5. Work programme of cooperation in health care, education, media, tourism, and creation

The sectors, which Singapore gets preferential market access are the business services, construction and related engineering services, financial services, telecommunication services, tourism and travel related services, and international transport services.

The objective of the chapter on investments of the India-Singapore Comprehensive Economic Cooperation Agreement is to promote and protect the foreign direct investment.

International Trade in Goods between Singapore and India

1. Singapore accounts for 38% of the Indian foreign trade with the ASEAN markets and 3.4% of its total trade
2. Top Indian exports products to Singapore are petroleum, gemstones, jewellers, machinery
3. Top Indian imports from Singapore are the electronic products, organic chemicals, and metals
4. 50% of the Singaporean exports to India are “re-exports” products
5. India is the tenth largest trade partner of Singapore with total trade amounting to S$30.7 billion, up from S$21.6 billion
6. The Singaporean Foreign Direct Investment into India have increased fourfold to 13 billion Singapore USD since 2005, and Singapore is the second largest foreign investor after Mauritius

The India-Singapore Exhaustive Economic Cooperation Agreement belongs to the:

1. Economic Area of the Hindu Civilisation
2. Economic Area of the Buddhist Civilisation/Sinic Civilisation