Wednesday, September 12, 2012

Singapore, Vietnam sign 3 agreements

Singapore, Vietnam sign 3 agreements



Singapore and Vietnam sign three agreements on Wednesday, paving the way for closer bilateral cooperation in areas such as finance and public administration

This comes as the Vietnam Communist Party's General Secretary, Nguyen Phu Trong's three-day official visit to Singapore begins on Wednesday.

Mr Trong and Prime Minister Lee Hsien Loong witnessed the signing of the agreements at the Istana.

Vietnam will send senior officials to Singapore for study visits and attend executive education programmes on development in areas like urban planning and transport management.

Earlier, both leaders exchanged views on international issues and agreed on the importance of achieving peace, stability and development in the region.

Mr Lee said both countries cooperate closely at all levels.

Mr Lee said: "Economic and business links continue to deepen. Bilateral trade in the first seven months of this year rose 13 per cent year-on-year to almost S$10 billion. "Singapore is also Vietnam's fourth largest foreign investor, with projects in electronics, housing, healthcare, ports and other areas."

"Our Connectivity Framework Agreement is now in its seventh year. It is an excellent platform to further our economic cooperation, including between our private sectors," added Mr Lee.

Singapore and Vietnam mark 40 years of diplomatic relations next year.

Both countries are working towards signing a Strategic Partnership agreement, which will open up more areas for cooperation.

~News courtesy of Channel Newsasia~

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