They both agreed to use the Joint Statement on Viet Nam-Singapore Cooperation Framework in the 21st Century as an important legal foundation to assist the efforts to increase bilateral cooperation.

The two countries' relevant ministries have made great endeavours in implementing an agreement on connecting the two economies in the fields of investment; trade and services; finance; post and telecommunication and information technology; transport and communications; and education and training, the two leaders said, stating this collaborating mechanism has worked effectively and will be applied in other areas.

During the meeting, PM Dung told his guest about Viet Nam's future development orientations, including targets of escaping from the underdeveloped status and increasing per capita income to 1,000 USD per year in 2010 and becoming an industrialised country by 2020.

Minister Mentor Lee spoke highly of Viet Nam's developmental gains and congratulated the country's admission to the World Trade Organisation and its successful organisation of the 14th APEC Economic Leaders' Meeting.

He expressed his hope that the Vietnamese people will obtain more successes in the course of building the country into a prosperous one and heightening the country's role and prestige in the regional as well as the international arena.

At the meeting, the two leaders discussed regional and international issues of mutual concern during which they affirmed to continue collaborating in the framework of regional and international organisations and forums.

They both viewed that the Association of Southeast Asian Nations (ASEAN) has solidified its role in not only each member country, the Southeast Asian region, but also in the Asia-Pacific region and the international arena.

Viet Nam and Singapore will work with other ASEAN member countries to build an ASEAN Community based on three main pillars - Security Community, Economic Community and Culture and Society Community, the two leaders vowed.

Availing himself of this opportunity, PM Dung congratulated Singapore on its ASEAN Chair in 2007 and expressed his hope that Singapore would make important contributions to consolidate and promote cooperation in the grouping towards a dynamic and prosperous ASEAN community.

He also expressed thanks to Singapore for its supports regarding Viet Nam's entry into the WTO and its candidacy for a non-permanent seat in the United Nations Security Council in the 2008-09 term.

Late in the day, PM Dung hosted a banquet in honour of Minister Mentor Lee and his entourage at the Government Guest House.

Minister Mentor Lee's visit will last until Jan. 20 (VNA).