- Joined
- Jun 2, 2011
- Messages
- 15,162
- Points
- 113
"In 2010, at the time when India and Singapore were reviewing CECA, India told Singapore that allowing immediate free movement of skilled people and substantially higher investment in India’s capital markets are essential for the survival of CECA with Singapore. This was reported by Indian media Financial Express on 26 May 2010.
India was unhappy over the pace of the opening up of services and capital investment, despite five years of operation of the agreement.
At the time, Financial Express quoted a commerce ministry official saying there would be many Indian doctors, architects, engineers and nurses wanting to go to Singapore to work.
“The CECA between India and Singapore was signed in August 2005. According to the agreement in services, the two countries agreed to allow free movement of IT professionals, chartered accountants, architects, engineers and doctors,” Financial Express reported.
And subsequently in 2013, Indian media Business Standard reported that changes to the Employment Pass Framework law by Singapore irked India as the new law does not give India a preferential treatment incorporated in the Comprehensive Economic Partnership Agreement (CECA) between the two countries, operational since 2005.
“This stance by the Singapore Government is expected to affect Indians working as middle-level managers, executives and technicians.” Business Standard reported.
“Speculations are rife that India might take up the issue with World Trade Organization’s (WTO) dispute settlement body. However, according to Singapore such a decision was imperative in the interest of the natives as the share of the foreign workforce is rising very rapidly.”
Business Standard reported that Indian officials involved in the negotiations said that this is a violation of the services trade agreement under CECA. This will also adversely affect Indians who are working there as it might lead to job losses, especially for the middle level workers.
According to the media outlet, India submitted a request to Singapore for addressing the matter but has not received a formal communication yet.
As of the time of report, there were about 200,000 non-resident Indians in Singapore working in ITES, financial services and scientific research sectors among others, according to one estimate."
Source - The Online Citizen.
India was unhappy over the pace of the opening up of services and capital investment, despite five years of operation of the agreement.
At the time, Financial Express quoted a commerce ministry official saying there would be many Indian doctors, architects, engineers and nurses wanting to go to Singapore to work.
“The CECA between India and Singapore was signed in August 2005. According to the agreement in services, the two countries agreed to allow free movement of IT professionals, chartered accountants, architects, engineers and doctors,” Financial Express reported.
And subsequently in 2013, Indian media Business Standard reported that changes to the Employment Pass Framework law by Singapore irked India as the new law does not give India a preferential treatment incorporated in the Comprehensive Economic Partnership Agreement (CECA) between the two countries, operational since 2005.
“This stance by the Singapore Government is expected to affect Indians working as middle-level managers, executives and technicians.” Business Standard reported.
“Speculations are rife that India might take up the issue with World Trade Organization’s (WTO) dispute settlement body. However, according to Singapore such a decision was imperative in the interest of the natives as the share of the foreign workforce is rising very rapidly.”
Business Standard reported that Indian officials involved in the negotiations said that this is a violation of the services trade agreement under CECA. This will also adversely affect Indians who are working there as it might lead to job losses, especially for the middle level workers.
According to the media outlet, India submitted a request to Singapore for addressing the matter but has not received a formal communication yet.
As of the time of report, there were about 200,000 non-resident Indians in Singapore working in ITES, financial services and scientific research sectors among others, according to one estimate."
Source - The Online Citizen.