Vietnam, Singapore reach consensus on directions for all-round ties

Welcoming the Vietnamese delegation, PM Lee said the good outcomes of their State visit to Singapore and the significant cooperation achievements in the recent past will create a new impulse for the two countries’ strategic partnership.

President Phuc affirmed that Vietnam always treasures and highly prioritises the unceasing reinforcement and development of its strategic partnership with Singapore.

Both host and guest expressed their delight at the increasingly substantive and effective partnership in all fields, noting that political and diplomatic cooperation has become stronger and more fruitful while economic ties are now a bright spot in the region.

Despite adverse impacts of the COVID-19 pandemic, bilateral trade still reached 8.3 billion USD in 2021, up 23.3 percent from the previous year. Singapore now ranks first among ASEAN countries and second among the 140 countries and territories investing in Vietnam, with its total registered FDI standing at 66 billion USD. The Vietnam - Singapore Industrial Park (VSIP) model has become a symbol of successful cooperation between the two countries.

Cooperation in other important aspects like defence - security, culture, education, tourism, and people-to-people exchange have also continued growing well, according to the leaders.

Discussing major orientations for bilateral relations, they agreed to resume all-level mutual visits and meetings soon; step up security - defence collaboration; effectively implement bilateral cooperation mechanisms, especially the ministerial meeting on economic connectivity; and promote the key cooperation areas under the bilateral Connectivity Framework Agreement, including investment, finance, ICT, education and training, transport, trade, and services.

President Phuc and PM Lee also agreed to expand ties in innovation, digital transformation, digital economy, and green and sustainable development so as to elevate the Vietnam -Singapore economic connectivity to a digital-based one. Besides, the two countries will work together to develop VSIPs into hi-tech, smart, and environmentally friendly industrial parks, and to capitalise on benefits from the new-generation free trade agreements to which both are parties such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

Applauding bilateral cooperation in COVID-19 combat, the leaders hailed their countries’ mutual recognition of each other’s vaccination certificates, which will facilitate bilateral travel and trading and greatly contribute to each side’ post-pandemic recovery and development.

They noted with satisfaction their countries’ effective coordination at regional and international forums, concurring in the continued coordination to help maintain ASEAN’s solidarity and centrality. Both sides also showed their support for the bloc’s active role in assisting Myanmar to surmount the current crisis and promoting the implementation of the Five-Point Consensus reached at the ASEAN leaders’ meeting in Jakarta, Indonesia, in April 2021.

They also affirmed the importance of maintaining peace, stability, security, safety, and freedom of navigation and overflight in the East Sea /South China Sea; not using or threatening to use force; peacefully solving disputes on the basis of international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS); fully implementing the Declaration on the Conduct of Parties in the East Sea /South China Sea (DOC); and negotiating to reach a substantive and effective Code of Conduct (COC) in the waters that matches international law, including the UNCLOS.

On this occasion, President Phuc conveyed PM Pham Minh Chinh’s invitation to visit Vietnam to PM Lee.

Following the talks, the two leaders witnessed the exchange of five cooperation documents on defence, economy - trade, intellectual property, digital economy, and people-to-people ties signed by the countries’ government agencies. The deals are expected to create an important framework helping strengthen the Vietnam - Singapore strategic partnership.