SINGAPORE. Sept 8: .The prime ministers of Singapore and India boosted trade and industrial cooperation Thurs day. agreeing to turn several planned projects into reality, reports AP.
India s Prime Minister P V Narasimha Rao, emerging from talks with his Singapore counterpart Goh Chok Tong, said they had friendly, cordial and practical" discussions
"Very practical . . Thal s the most important part of it We went Into several areas of cooperation and decided to do things which make the pro jects fructified." said Rao without elaborating.
Earlier, Rao and Prime Minister Goh witnessed the signing of a memorandum of understanding on cooperation between the foreign ministries of the two countries. Details of the agreement were not Immediately available
Rao arrived Wednesday from Hanoi on a three day vWt. The focus of the high profile tour is to emphasize India s new policy of economic liberalization that Rao Introduced three years ago.
On Wednesday, he told a meeting of ethnic Indian businessmen of Singapore 1 have come to tell you whaj you al ready know. There is enor mou* scope for you to cooper ate with India
About seven per cent of Singapore s three million people are of Indian origin About 78 per cent are Clfinese and the rest Ma lays
Even after Rao leaves on Friday a slew al business deals are expected to be signed be tween Singapore companies and top Indian businessmen who came with Rao
On Wednesday, a private Singapore shipping company announced a joint venture with unnamed Indian partners to build two 210-megawatt coal-fired power stations, costing 420 million dollars in the western state of Maharashtra.
Taking advantage of the opening up last year of Indian banking to private Industry. Singapore's Keppel Bank is expected to invest nine million dollars, in an equity contribu tlon to a joint venture bank based In Goa. another western Indian state
Rao said India and Singa pore could also plan on defense' cooperation "In due course."
He said India supports the ASEAN Regional Forum, a fledgling security group of seven Southeast Asian nations, iheir seven main trading partners plus China. Russia and Vietnam.