Comprehensive Economic Cooperation Agreement India

The India-Singapore Economic Cooperation Agreement, also known as the Comprehensive Economic Cooperation Agreement or simply cecaf, is a free trade agreement between Singapore and India aimed at strengthening bilateral trade. It was signed on 29 June 2005. [1] In 2005, the two nations signed the Comprehensive Economic Cooperation Agreement (CECAF) and organized the Indian Parliament Forum and the Singapore-India Partnership Foundation, with the active support of the Federation of Indian Chambers of Commerce and Industry (FICC), the Confederation of Indian Industry (CII) and the Singapore Business Federation to promote trade, economic development and partnerships. [2] [3] [4] The C.A.A. has removed customs barriers, double taxation, double procedures and regulations and has ensured free access and cooperation between financial institutions in Singapore and India. [2] [3] The CACE has also improved bilateral cooperation in the fields of education, science and technology, intellectual property and aviation, and enabled Indian professionals in information technology, medicine, engineering and finance. [2] [3] Singapore has invested in projects to modernize Indian ports and airports, as well as in the development of information technology parks and special economic zone (SEZ). [2] India has become Singapore`s 4th largest tourist destination and more than 650,000 Indians visited Singapore in 2006. The two countries have cooperated in the fields of aerospace, space programs, information technology, biotechnology and energy. [2] In order to further strengthen trade relations, the governments of Australia and India began negotiations on the Australia-India Comprehensive Economic Cooperation Agreement (CECAF) in 2011. Negotiations are expected to be concluded shortly and another is expected to apply in a series of bilateral trade agreements between Australia and its main partners in the Asian region. The implementation of the CSA with India is expected to contribute significantly to the continued growth of trade in goods and services as well as investment.

Australia and India are making progress towards the conclusion of the Comprehensive Economic Cooperation Agreement (CCIA), which is expected to significantly boost two-way investment and further strengthen bilateral economic relations. Independent models from 2008 showed that a CACE between Australia and India could lead to a net increase in Australian GDP of $32 billion over 20 years and Indian GDP of up to $34 billion. The study concluded that resources, agriculture, manufacturing, financial services, software, telecommunications and education were the sectors most likely to benefit most from a trade agreement between India and Australia. Since the end of the study, these possibilities have become increasingly clear. In addition to COPACE, Australia and India are participating in the negotiations on the Regional Comprehensive Economic Partnership – a proposal for an ASEAN-centric free trade area, which would first include the ten ASEAN member states and countries that have concluded existing free trade agreements with ASEAN. . . .