India and Singapore have agreed to improve access for businesses in each other's markets as they concluded the second review of the Comprehensive Economic Cooperation Agreement (CECA).
The review includes enhancements such as expanded tariff concessions for an additional 30 products and improved rules to provide more flexibility for Singapore exports into India to qualify for preferential tariffs under the agreement, Singapore's Ministry of Trade and Industry (MTI) said.
The second review of the CECA was concluded in the presence of Prime Minister Narendra Modi and his Singaporean counterpart Lee Hsien Loong.
Modi is here on a three-day visit.
"The upgraded agreement will enable more Singapore companies to qualify for lower tariffs," Minister for Trade and Industry S Iswaran said.
"This improves local exporters' access to the Indian market. I encourage our companies to make full use of the upgraded agreement and explore more opportunities for collaboration in India."
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