Singapore’s Trade and Industry Minister Chan Chun Sing has urged India to increase its trade with Southeast Asia, citing the region’s growing economic importance and the opportunities for greater collaboration.
In a statement released on Monday (June 22), Chan said that India and Southeast Asia are two of the world’s fastest-growing regions, and that closer economic ties between them will benefit both sides.
He added that India and ASEAN countries should focus on enhancing connectivity, deepening collaboration across various sectors, and strengthening their technological capabilities.
The minister also highlighted the potential of digital trade and the importance of India and ASEAN countries taking advantage of the digital economy to boost trade, investment, and job creation.
He encouraged Indian and ASEAN businesses to explore new opportunities to work together and noted that the ASEAN-India Digital Trade Facilitation Agreement, which was signed in 2018, could provide a platform for expanding digital trade.
Chan concluded by noting that Singapore is committed to strengthening economic ties between India and ASEAN, and that the city-state will continue to play an active role in promoting cooperation between the two regions.