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Vietnam, Singapore to strengthen economic ties

Tuesday, August 30, 2016, 11:28 GMT+7

During his state visit to Singapore, Vietnamese State President Tran Dai Quang has joined talks with his Singaporean counterpart Tony Tan Keng Yam, discussing measures to cement the two nations’ economic cooperation.

The two leaders sat down for a meeting at the Istana, the official residence of the Singaporean head of state, on Monday morning, as part of President Quang’s trip to Singapore scheduled for August 28 to 30, the Vietnam News Agency reported.

They expressed their satisfaction with the rapid and effective development of the Vietnam-Singapore strategic partnership since 2013, agreeing on boosting ties in defense and security, education, culture, and tourism.

According to President Tan, Singaporean businesses have been pleased with the favorable conditions provided for them to invest and operate in Vietnam.

The Vietnamese head of state also met with Singaporean Prime Minister Lee Hsien Loong later the same day, addressing regional and international situations.

The two parties reiterated ASEAN’s stance on the settlement of maritime disputes via peaceful methods, stressing the importance of preserving peace, stability, security, and safety in the East Vietnam Sea.

They pledged to coordinate with relevant nations in the efficient fulfillment of the Declaration on the Conduct of Parties in the East Vietnam Sea (DOC) and the establishment of a Code of Conduct (COC) for the maritime area.

ASEAN is short for the Association of Southeast Asian Nations, which is a political and economic organization whose members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.  

In the evening, President Quang attended and delivered a speech at the Vietnam-Singapore Business Forum in the Singaporean capital with an audience of over 360 enterprises from the two countries.

Speaking at the event, Singaporean Minister for Trade and Industry S. Iswaran highlighted that Vietnam had accomplished positive improvements to its investment environment, meeting the demands of the Singaporean economy.

Businesses in Singapore are also excited about the favorable policies of Vietnam, he added.

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Tuoi Tre News

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