(MENAFN- Live Mint) Prime Minister Narendra Modi will visit Singapore on September 4, Jaideep Mazumdar, Secretary East in the Ministry of External Affairs, said on Monday. This will mark PM Modi's first visit to Singapore in six years.
PM Modi is also expected to sign several memorandums (MoUs) during his visit to the country. Several areas, including digitization, skills development, sustainability, health, advanced manufacturing, and connectivity , were identified at the India-Singapore Ministerial Roundtable on August 26, 2024.“We anticipate that several MoUs will be exchanged in these areas during the Prime Minister's visit,” Mazumdar said during a press briefing.
Noting that Modi's visit was significant for trade relations , the minister said that Singapore is India's largest trading partner within ASEAN, the intergovernmental organization that promotes economic and security cooperation among Southeast Asian countries.
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“The visit is significant for trade and investment. Singapore has been India's leading source of Foreign Direct Investment (FDI) over the past financial year. Globally, Singapore ranks as India's sixth-largest trade partner," PTI reported quoting Jaideep Mazumder.
He elaborated that Narendra Modi's visit to Singapore comes amid a consistent growth in trade relations between the two countries. The ties have been strengthened further due to strong defence cooperation and increasing cultural and educational exchanges.
Modi to engage with CEOs
During his visit, Prime Minister Modi will also engage with CEOs.“Investment flows have been substantial, with an accumulated FDI of USD 160 billion since 2000. An important aspect of the visit will be the interaction with business leaders, where PM Modi will present India's growth story directly,” Mazumdar added.
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Mazumdar reflected on the history of India-Singapore relations . He said the upcoming visit was particularly significant given its timing with the recent swearing-in of Singapore's new Prime Minister, Lawrence Wong.
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“This visit is a prime opportunity to enhance India-Singapore relations and set the stage for future collaboration. Our relationship has evolved into a dynamic strategic partnership, supported by our shared history and strong people-to-people ties,” said Mazumder at the press briefing.
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