The prime minister commented Sunday as he opened the summit in Kuala Lumpur.
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“From the Jt Declaratn on Strategic Partnership to Defence, Cyber Security, Shipping, Culture, the Agreements showcase strength of b/l ties”, Vikas Swarup, spokesperson of the external affairs ministry, tweeted.
Both countries have also agreed to continue to conduct and enhance bilateral training and exercises between the two armed forces, and explore further cooperation in areas of common interest, such as defence technology and humanitarian assistance and disaster relief.
Modi’s visit also commemorates the 50th anniversary of the establishment of diplomatic relations between Singapore and India this year, and underscores the excellent and longstanding ties between the two countries.
While praising the “energy, sense of goal and enterprise in the Singapore air”, he said, “Singapore is a major partner in nearly every area of India’s transformation”.
The Asiatic Lion can now be found only in Gujarat, but Asia’s economic lion is here in Singapore. I am fully aware of the important role Singapore has played in the implementation of this policy.
Hard-selling India’s growth story to Singapore business chiefs, Modi said, “India’s economy is the fastest growing economy”.
“Wherever you have gone, you have made that country your own, irrespective of circumstances”, he added. Mahatma Gandhi had said that if I have to choose between independence and cleanliness, I will choose cleanliness,”Modi said”. So, we must work hard to realize our vision of an Asian Century. However, there were a number of regulatory and taxation issues which were adversely impacting on their sentiments. “We will take immediate action to recognise more Indian degree”, Najib said.
Singapore was the second largest source of FDI (Foreign Direct Investment) into India in 2013-14, bringing in $5.98 billion, about 25% of the total FDI inflows in that year. Singapore companies have also a level of familiarity with Indian market, due to the involvement over the past few decades. Nearly 3,00,000 people of Indian origin are settled in Singapore.
Citing example of the ASEAN Economic Community Mr Modi said it is going to create a 2 trillion USA dollar market of 600 million people.
The Indian prime minister also called for scaling up trade and investment relations with Malaysia.
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He said last 18 months of his government have been marked by reforms reaching the last mile.
