Bangalore: India and Singapore would hold bilateral talks on a comprehensive economic co-operation agreement after completion of an ongoing joint study on free trade, Singapore President S R Nathan indicated on January 6.

"A study on comprehensive economic co-operation agreement has to be completed. The two parties have to discuss the details," Nathan told reporters when asked about a free trade agreement between the two countries.

He said the study was expected to be completed in the first quarter or before the second quarter of this year, after which bilateral talks on the issue would be held.

Nathan said the prospects of trade co-operation between India and Singapore were "great" and in a globalised environment, it required businessmen of both countries to assess and take advantage of them.

Earlier, he opened "Explorer", the latest building of Information Technology Park Limited (ITPL) at Whitefield on the outskirts of the city in the presence of Ratan Tata of the Tata Group, who is the chairman of ITPL.

Nathan was accompanied by Lee Yock Suan, Minister in the Prime Minister's Office in Singapore and Second Minister for Foreign Affairs, and Khaw Boon Wan, Minister of State for Transport and Information and Communications.

The Bangalore Park is owned by ITPL, a joint venture between Tata Industries, the Karnataka government and a Singapore consortium led by Ascendas and has an area of 1.6 million square feet.

Tata said the new building was another milestone in their endeavour to provide one- stop world-class facilities to Bangalore for Information Technology investment.

PTI