Question : Does Singapore have an economic cooperation agreement with Vietnam or anything of the sort? Is Singapore helping Vietnam in the way of providing advice about how to develop their economy?

The relationship between Vietnam and Singapore has been witnessing fine progress. The two countries entertain friendly cooperative relations in many fields, especially in economy and trade. In March, 2004 the Joint Declaration on Comprehensive Co-operation Framework in the 21st Century was signed. The framework has created legal foundation and favourable conditions for the promotion of the bilateral friendship relations and multifaceted cooperation in the coming time. Vietnam has become a major market for Singapore’s trade and investment in South East Asia.

Economically, the two sides have established several mechanisms for their bilateral cooperation including a Committee on Vietnam and Singapore Cooperation co-chaired by Vietnamese Minister of Planning and Investment and Singaporean Minister for Trade and Industry. In November, 2003, the sixth meeting of the Committee was convened in Hanoi to discuss measures to promote economic cooperation. The 7^th meeting is expected to be held in Singapore at the end of 2005.

During Prime Minister Phan Van Khai’s working visit to Singapore in March, 2004, the two Prime Ministers reached consensus on measures to implement the initiative to link the two economies proposed by Prime Minister Goh Chok Tong. This initiative is indeed a comprehensive cooperation program between the two countries. In the visit of Prime Minister Lee Hsien Loong (12/2004), the two countries’ leaders agreed to join hands in six areas, namely finance and banking, investment, trade-service, transport, telecommunications and information technology, and education and training. In the coming visit to Singapore by Standing Deputy Prime Minister Nguyen Tan Dung in early December 2005, the two sides will sign an agreement on Vietnam-Singapore economies’ linkage.

The two countries’ leaders and representatives of Ministries and agencies regularly conduct exchange of ideas on issues of mutual concern. This has contributed to strengthening the bilateral cooperation./.