NEW DELHI: India and Singapore today decided to strengthen cooperation in countering threats of rising terrorism. Prime Minister Narendra Modi termed cross- border terrorism and increasing radicalisation as grave challenges that endanger the very fabric of the two societies.

Mr Modi, who held comprehensive talks with visiting Singapore Prime Minister Lee Hsien Loong on ways to enhance cooperation in key sectors including trade and investment, said defence and
security cooperation is a key pillar of strategic partnership between the two countries.

Addressing a joint press meet, Mr Lee condemned terrorism and offered condolences to the families of the soldiers who were martyred in the Uri attack in Jammu and Kashmir.
Mr Modi also noted that keeping the sea lanes of communication open and respect for international legal order of seas and oceans are a shared priority of the two maritime nations.

The two countries also inked three pacts including the one dealing with intellectual property rights to facilitate greater business to business exchanges and collaborations.

Describing trade and investment as bedrock of bilateral relationship, Mr Modi said India has embarked on a path of strong economic growth and transformation and in this journey, it
regards Singapore as a key partner.

Agreeing to expedite the second review of Comprehensive Economic Cooperation Agreement, the two leaders also welcomed the issuance of corporate Rupee bonds in Singapore which was a step forward in mobilising capital for India’s large infrastructure development needs.

The two countries also decided to set up a Finance Dialogue, to be co-chaired by Finance Minister Arun Jaitley and Deputy Prime Minister Tharman Shanmugaratnam of Singapore, to further strengthen bilateral trade and economic ties.The two-way trade between the two countries declined to 15.02 billion dollars in 2015-16 from 16.93 billion dollars in the previous financial y

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