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 Singapore-India
3. Benefits to Exporters.
4. Rules of Origin.
5. Foreign trade in services.
6. Investment Chapter of the Comprehensive Economic Cooperation Agreement between India and Singapore.

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

Sub-Subject Description: India-Singapore Exhaustive Economic Cooperation Agreement

The India-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 products and services and foreign direct investment.
2. Bilateral agreement on 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 areas including health care, education, media, tourism, and creation.

Sectors, which Singapore gets preferential market access are 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 from India and Singapore.

Foreign Trade in Goods Singapore-India.

1. Singapore accounts for 38% of the foreign trade of India with the ASEAN 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: electronic products, organic chemicals, and metals.
4. 50% of 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. Foreign Direct Investment of Singapore into India have increased fourfold to 13 billion Singapore USD since 2005, and Singapore is the second biggest foreign investor after Mauritius.

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