Singapore Senior Minister’s visit to promote strategic partnership

The September 23-26 visit by Senior Minister of Singapore to Vietnam is sure to boost bilateral strategic partnership, Vietnamese Ambassador to Singapore Tran Hai Hau has said.

The visit, made at the invitation of Prime Minister Nguyen Tan Dung, will be the highest-level by a Singaporean leader this year, following the 2012 and 2013 visits by President Tony Tan Keng Yam and Prime Minister Lee HsienLoong, respectively. 

He said that over the past three years, the Vietnam–Singapore relationship has progressed in every aspect, as demonstrated by the increasing number of all-level visits and the effective cooperation mechanisms in the fields of diplomacy, security and defence.
Singaporean investment flows to Vietnam have increased dramatically, from US$23 billion in 2011 to US$30 billion at present. Two-way trade has enjoyed an average annual growth rate of 12.7%, reaching US$13.9 billion last year and nearly US$9.6 billion in the first seven months of this year.

Vietnam’s export to Singapore doubled from US$1.6 billion in 2011 to over US$3 billion in 2013. 

Singapore is currently Vietnam’s third largest trade partner out of the ASEAN member states. 
At regional and global forums, both countries are contributing to the establishment of the ASEAN Economic Community by 2015 and the negotiations on the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP). 

Applauding Singapore’s role in Southeast Asia, Ambassador Hau said the city-state plays an integral part in the development and prosperity of the region. 

After nearly five decades of growth, Singapore is now a financial hub, a transit airport, and a metropolis for education, healthcare, tourism, and technological innovation, amongst others.