Singapore's trade with India increased to 42 percent to reach $30.7bn

Singapore-India relations reached a new and higher level when upon signing of the Comprehensive Economic Cooperation Agreement in 2005.

Mr S. Iswaran, Senior Minister of State, Ministry of Trade and Industry said, Singapore today is India’s largest trading partner among ASEAN countries and also the largest ASEAN investor in India.

He also said, Singapore and China also share a special relationship, with Singapore as one of China’s key economic partners in ASEAN. The political goodwill and cultural ties between Singapore and China have helped to strengthen our economic partnership. Singapore was also the first country that China signed an FTA with in Asia, in 2008. Bilateral trade between our two countries is robust, rising by 25.9 per cent from 2009 to 2010, to reach $95.3 billion.

Mr S. Iswaran believes that they have a transparent business environment, a stable political climate, and low personal and corporate taxes. The high level of professional services, access to international capital markets, and their well-regarded legal system, makes Singapore an attractive environment for Chinese and Indian businesses to explore collaborations and partnerships.

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