The India Singapore Free Trade Agreement (ISFTA) has been a topic of discussion since its inception in 2005. Recently, the Indian government has notified the second protocol of the agreement, which aims to improve trade relations between the two countries.
The agreement was signed to promote bilateral trade and investment between India and Singapore. It includes measures to reduce tariffs, eliminate non-tariff barriers, and provide a stable and predictable business environment for companies of both countries.
The second protocol of the ISFTA includes several key changes that will further enhance the trade relationship between India and Singapore. The protocol aims to encourage the mutual recognition of conformity assessment procedures, which will help reduce trade barriers and facilitate the flow of goods between the two countries.
It also includes provisions related to the protection of intellectual property rights, e-commerce, and trade in services. These provisions will help create a more dynamic and competitive business environment and promote the growth of both countries` economies.
The notification of the second protocol of the ISFTA is a positive step towards strengthening the economic relationship between India and Singapore. It is expected to boost trade and investment between the two countries and improve their overall economic cooperation.
As a professional, it is important to note that the ISFTA notification is a significant event that can attract a lot of attention from various entities. Therefore, including relevant keywords such as «India Singapore Free Trade Agreement» and «ISFTA» in the article can help improve its visibility and reach a wider audience.
In conclusion, the notification of the second protocol of the ISFTA is a positive development in the economic relationship between India and Singapore. It is expected to bring several benefits to both countries and strengthen their bilateral ties.