Almost a year after they elevated bilateral ties to a strategic partnership, India and Singapore further cemented their relationship with the inking of three new agreements yesterday, as Prime Minister Narendra Modi and visiting Singapore Prime Minister Lee Hsien Loong held talks here and decided to boost co-operation in countering threats of rising terrorism.
Modi and Lee, who is in India on a five-day working visit, held talks at Hyderabad House after which the two witnessed the inking of three agreements in skill development and industrial property.
Voicing concern over cross-border terrorism, Prime Minister Modi said in his media statement: “Rising tide of terrorism, especially cross-border terrorism, and the rise of radicalisation are grave challenges to our security.”
“They threaten the very fabric of our societies,” Modi said.
Lee, in his press statement, condemned terrorism and offered his condolences to the families of those killed in the September 18 terror attack on an army camp in Uri, Jammu and Kashmir.
Referring to his visit to Singapore last November when ties were enhanced to strategic partnership with “renewed spirit, new energy”, Modi said both sides had drawn up a road map to realise their ambitious co-operative agenda. Yesterday, both leaders “undertook a detailed review of the shape and substance of our strategic partnership”, he said.
Both leaders have agreed to expedite the second review of the Comprehensive Economic Co-operation Agreement.
Modi said the memorandum of understanding (MoU) on intellectual property, inked yesterday, would facilitate greater business to business exchanges and collaborations. “Prime Minister Lee and I also welcome the issuance of corporate rupee bonds in Singapore,” Modi said, describing it as “a step forward” in efforts to mobilise capital for India’s large infrastructure development needs.
Modi said that both countries have agreed to enhance co-operation to counter the threats of terrorism and radicalisation, including in cyber security.
“Our defence and security co-operation is a key pillar of our strategic partnership,” he stated.
“As two maritime nations, keeping the sea lanes of communication open, and respect for international legal order of seas and oceans is a shared priority,” Modi said, in an oblique reference to the South China Sea dispute.
Modi said their co-operation in the framework of Asean, East Asia Summit and the Asean Regional Framework is aimed at building an open and inclusive architecture for regional cooperation, in an atmosphere of trust and confidence.
Lee, in his remarks, said there is growing optimism about India’s prospects due to the dynamic leadership and clear vision of Prime Minister Modi.
“Singapore is happy to support India’s efforts to transform its economy, and to give India’s youth the skills they need,” he said.
Both leaders also discussed boosting economic ties by setting up a Finance Dialogue between the finance ministries of both countries.
Singapore was one of India’s largest sources of foreign direct investment in 2015, and more than 8,000 Indian companies are present in Singapore, said Lee.
He added that senior ministers on both sides will be appointed to find win-win outcomes for both countries. On the Singapore side, Deputy Prime Minister Tharman Shanmugaratnam will be appointed for the task. India will appoint Finance Minister Arun Jaitley, the Straits Times reported.