New Delhi, Mar 27 (UNI) The Union Cabinet today gave its nod to modified list of 555 items for trade with Singapore under the Comprehensive Economic Co-operation Agreement (CECA).
The government spokesman said with the deletion of 16 items from the negative list, including video cameras and video recorders, as also transfer of another 14 items from Normal Track-1 to Normal Track-11, including certain categories of polyethylene and nylon, bilateral trade between the two countries will grow due to tariff concessions.
India and Singapore had signed CECA in June 2005. It was opertionalised in August the same year.
CECA is an integrated package comprising a free trade agreement, a bilateral agreement on investment promotion and protection, and an improved double taxation avoidance agreement between the two nations aimed at boosting investment in the region.
Incidentally the CECA with Singapore is India's first such agreement with any country and also the first bilateral agreement in services.
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