1.Political Relations:
    Vietnam and Singapore established diplomatic relations on August 1st 1973. After Vietnam joined the Bali Treaty (July 1992) and became a full member of the ASEAN in July 1995, the bilateral relations entered a new stage of development which is more productive and fruitful. Singapore attached great importance to cooperation with Vietnam, aiming to turn Vietnam into one of the main destinations in the South East Asia for Singapore’s trade and investment.
    On his working visit to Singapore by Vietnam Prime Minister Phan Van Khai in March 2004, the two sides signed “Joint Statement on the Comprehensive Cooperation Framework in the 21st century”, creating legal foundation and favorable conditions to further enhance the bilateral relations of friendship and cooperation.

    2.In the fields of Economics, Science, Technology, Education and Culture:
    - Trade and investment: since 1996, Singapore has been one of the leading trading and investment partners of Vietnam. The total turnover reached 3.9 US$ million in 2003; 4.9 US$ million in 2004; 6.4 US$ million in 2005; and estimated 7.7 US$ million in 2006 (Vietnam exported 1.5 US$ million and imported 6.2 US$ million).
    - Since 1998, Singapore direct investment in Vietnam has gradually increased. By August 2007, Singapore had more than 500 investment projects in Vietnam with a total registered capital of 9.6 US$ million.
    - On December 6, 2005, the Ministers of Trade of the two countries signed the Framework Cooperation on Vietnam – Singapore Connectivity in Singapore with 6 annexes: finance, investment, trade and services, transportation, telecommunication – information technology, education and training.
    - Cooperation on education and culture has been further strengthened and expanded. Singapore has made active contribution to helping Vietnam in the fields of science – technology, human resource development, finance, tourism and banking…. Singapore also shared experience with Vietnam in the process of regional and international integration.

    3. Bilateral cooperation mechanisms:
    - Vietnam – Singapore Cooperation Commission was established on May 5, 1993. The Commission has held 6 meetings (1993, 1994, 1995, 1997, 1999 and 2003). In 2003, the Commission set up the Vietnam - Singapore Joint Steering Committee in investment.
    - The Annual Bilateral Consultation at Deputy Foreign Minister Level between the two Foreign Ministries was set up, aimed at discussing bilateral cooperation on regional and international matters of mutual concern. Since 2003, the two Foreign Ministries have held four rotational consultation meetings (2003, 2004, 2005 and 2007).

    October 2007


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