Though Singapore may not be cost competitive for setting up manufacturing units, Coimbatore can make use of its advancements in textile and engineering design to enhance business potential, a senior minister of Singapore has said.
"Singapore can also be made a hub to reach out faster to South East Asian countries and the western part of America, due to its strategic location and excellent logistic facilities," Dr Balaji Sadasivan, senior Minister for Foreign Affairs, Information, Communication and Arts, Singapore, said.
He was interacting with the members of CII, Coimbatore Chapter, during his recent visit to the city, on the potential to boost bilateral economic cooperation between his country and Coimbatore, a CII press release said today.
With a quantum jump not only in business travellers, but also leisure travellers between the region and Singapore, Silk Air (of Singapore) was considering starting a direct air link between the two destinations and was awaiting the Centre's approval, he said.
The Comprehensive Economic Cooperation Agreement (CECA) signed between the two countries last year was entering the next stage with Singapore's intention to create special economic zones in India, Sadasivan said.
Bilateral trade has jumped 41 per cent in 2004-05 from 11 billion dollars to 16 billion dollars following the CECA, the release added.
Source: Chennai Online
Thursday, October 05, 2006
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment