India has acceded to the Treaty of Amity and Co-operation in Southeast Asia (TAC) and adopted the Joint Declaration for Cooperation to Combat International Terrorism, signalling its strong commitment to ensure peace and security in the region. India is now a dialogue partner with ASEAN at the Summit level. Last year, the leaders adopted the suggestion of Indian Prime Minister Vajpayee and signed the ASEAN-India Framework Agreement on Comprehensive Economic Cooperation, an interim step towards an eventual ASEAN-India FTA. Both sides have agreed to start negotiations on trade in goods this year, including an ?early harvest programme? to boost trade in selected sectors. Singapore supports this far-sighted initiative and will work actively with India and other ASEAN members to fulfil this vision. The India-Singapore CECA Bilaterally, India and Singapore are already negotiating a Comprehensive Economic Co-operation Agreement (CECA), which will be a firm basis for expanding the India-ASEAN relationship. The rewards are not only economic, but also strategic. Singapore naturally hopes to gain freer access to the Indian market. But the benefits extend well beyond this. Singapore wants to strengthen its economic ties with many different centres of prosperity and growth, and not be overly dependent on one or two major trading partners. A strong relationship with India will complement our rapidly growing links with China, and help us to realise the strategy of growing two external wings in the region, with the two emerging economic giants.
This designation will be the Gold Standard in banking  2  BIS central bankers’ speeches  qualification and recognition. It will be jointly awarded with the Chartered Institute of Bankers. This award, I am confident, will be the catalyst that significantly elevates professionalism in the banking industry. I am most inspired by the theme of this year’s conference. It is pragmatic, realistic and aptly sums up the importance of talent management as we steer through the evolving financial landscape. Topics such as “Asia 2.0: Leading the Next Wave of Growth” and “Global Workforce Strategies CEOs Deploy to Achieve Leading Business Result” would be significant especially for HR practitioners managing multinational companies in Asia. Besides, topics such as “Are Our Graduates Employable?” will also be an interesting meeting point for HR practitioners and educators. I wish you an insightful and productive discussion. I trust that today’s conference is merely another step in the journey of intellectual quest that will continue long after this conference has ended. BIS central bankers’ speeches  3