Singapore  - The first meeting of the India-Singapore Joint Ministerial Committee (JMC) marked an "important milestone" in relations between the two countries, Singapore's foreign ministry said on Thursday.

Indian Minister of External Affairs Pranab Mukherjee and his Singapore counterpart George Yeo took stock of the growing linkages and rapid expansion of trade, investment and defense, a ministry statement said.

The ministers also discussed future cooperation in education and culture. They "agreed to explore future cultural initiatives such as India's historical links to Singapore," the statement said.

On education, both ministers recognized the growing importance of cooperation and linkages between institutions of higher education.

The meeting was held in New Delhi, the first institutionalized bilateral mechanism at a ministerial level.

The second meeting will be held in Singapore in 2009. (dpa)