According to the diplomat, on the basis of the strategic partnership set up in 2013, Vietnam and Singapore have intensified cooperation in numerous fields, including security, defense, trade, investment, education and tourism, with trade and investment being a bright spot in the bilateral relations.
In the past three years, two-way trade recorded an average annual growth rate of 12 percent. Last year, bilateral trade reached SGD 20 billion (approximately USD 15 billion), making Vietnam Singapore’s 11th largest trade partner.
Singapore is Vietnam’s third biggest investor, with over 1,900 projects worth nearly USD 42 billion.
Minh expressed his belief that the visits made by the two countries’ senior leaders, especially the visit to Vietnam by Prime Minister Lee Hsien Loong in November will help lift the bilateral relations to a new height.
In the context that the Association of Southeast Asian Nations (ASEAN) is celebrating its 50th founding anniversary, Vietnam pledges to work with other member states in building an ASEAN Community of peace, solidarity, development and prosperity, which holds a central role in the region’s security architecture, he added.
Singaporean Minister for Trade and Industry Lim Hng Kiang said that Singapore continues to be Vietnam’s development partner through technical assistance and cooperation in various fields, including education, finance, tourism and transport.
In October, he and Vietnamese Minister of Planning and Investment Nguyen Chi Dung will co-chair the 13th economic connectivity conference in Vietnam to discuss measures to promote bilateral investment and import export activities, he noted.
Source: VNA