India, Singapore discuss joint SEZ project

Monday, 25 September 2006, 07:00 Hrs
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New Delhi: India and Singapore held discussions over the modalities for implementing the ambitious project of the India-Singapore Special Economic Zone (SEZ) for a better bilateral economic partnership.

Singapore's Permanent Secretary, Ministry of Trade and Industry Peter Ong Boon Kwee and Prime Minister Manmohan Singh's Principle Secretary T.K.A Nair held detailed discussions Saturday on the concept of the SEZ, which had been proposed by Goh Chok Tong, senior minister of Singapore during a meeting with the Indian premier last June.

Goh Chok had proposed the development of a Singapore-India Economic Zone as an integrated eco-system of industry, commerce and residential activities based on world class planning, infrastructure and facilities.

The project is to be developed by Singapore's private companies in joint partnership with Indian companies, with the facilitation and guidance of the two governments.

Manmohan Singh had appointed a steering committee headed by Nair for the speedy implementation of the project.

During Saturday's discussions, both sides had agreed that the steering committee mechanism would be operationalised at the earliest.

Nair was also briefed about the ongoing discussions on the India-Singapore Comprehensive Economic and Cooperation Agreement, which are underway in Indian capital.

Source: IANS
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