The agreement was reached during talks in Hanoi on September 12 between Deputy Prime Minister Truong Hoa Binh and Singaporean Deputy PM and Coordinating Minister for National Security Teo Chee Hean, who is in Vietnam from September 12-14 to attend a ceremony celebrating the 20 th anniversary of Vietnam-Singapore Industrial Park (VSIP).
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| Deputy Prime Minister Truong Hoa Binh (R) and Singaporean Deputy PM and Coordinating Minister for National Security Teo Chee Hean (L) |
Both sides expressed their pleasure with closer political ties over the past time via the regular exchange of visits, especially the visit by President Tran Dai Quang last month, which has created a new driver for bilateral ties in the new period.
They hailed economic-trade ties as a bright spot in the two countries’ relationship. Singapore is one of Vietnam’s leading trade partners with two-way trade hitting 9.3 billion USD last year. The country is also the third biggest investor in Vietnam.
Teo Chee Hean said the VSIP expansion in all the three regions of Vietnam demonstrates effective cooperation between the two countries and reflects Singaporean investors’ strong confidence in the potential and investment environment in Vietnam.
Host and guest welcomed the 12 th meeting of the Framework Agreement on Vietnam-Singapore Connectivity slated for Singapore this month, agreed to jointly tap advantages brought about by the Trans-Pacific Partnership and enhance joint work in justice and law, education-training, culture and tourism.
On regional and global issues of shared concern, they vowed to work closely together at regional and global forums, especially within ASEAN and the United Nations.
The two officials pledged to promote solidarity and maintain the central role of ASEAN in the regional security architecture and affirmed ASEAN’s common stance on the settlement of disputes in the region They underscored the importance of maintaining peace, stability, security and safety in the East Sea as well as the settlement of disputes in the waters by peaceful means, the full and effective implementation of the Declaration on the Conduct of Parties in the East Sea and the early formulation of a Code of Conduct in the East Sea.
The host also accepted the Singaporean Deputy PM’s invitation to visit Singapore. The timing of the visit will be arranged via diplomatic channel.
