Vietnam and Singapore officially established diplomatic relations in 1973. The bilateral relationship was elevated to a Strategic Partnership in 2013.
Over the past years, many high-level visits and exchanges on all channels have been maintained regularly and increased in frequency, creating a foundation to promote extensive cooperation between the two countries in many fields.
The economic, trade and investment cooperation between the two countries has become a model of bilateral economic cooperation in Southeast Asia.
Vietnam and Singapore are always in the group of the 15 largest trading partners of each other. Two-way trade turnover reached about 9.15 billion USD in 2022, up 11.6% against 2021. The figure was estimated at 4.5 billion USD in the first six months of this year.
Singapore is Vietnam's leading economic partner in the region. It maintains its top position among ASEAN countries and ranks second among countries and territories investing in Vietnam, with 3,274 valid projects, with a total registered capital of about 73.5 billion USD.
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Singaporean Ambassador to Vietnam Jaya Ratnam speaking at the ceremony (Photo: qdnd.vn) |
While attending a ceremony held recently in Hanoi to mark the 50th anniversary of diplomatic relations and the 10th anniversary of the strategic partnership between Vietnam and Singapore, Singaporean Ambassador to Vietnam Jaya Ratnam agreed with the participants, that Vietnam-Singapore Industrial Parks (VSIP) is a symbol of economic cooperation between the two countries. A total of 14 VSIPs are currently operating in 10 provinces and cities throughout Vietnam.
Established in February 2023, the Vietnam-Singapore Digital Economy-Green Economy Partnership will open up new cooperation opportunities between the two countries in many fields. Ambassador Jaya Ratnam expressed his belief that under this new partnership framework, bilateral economic cooperation will grow more robustly.
Regarding defence and security, the two sides have maintained high-level delegation exchanges and annual dialogue and cooperation mechanisms.
Bilateral cooperation in other areas such as finance, banking, education, training, and justice has been further promoted.
People-to-people exchanges have made a significant contribution to enhancing mutual understanding and cohesion between the peoples of the two countries.
Celebrations, a logo design contest, and a series of cultural, sports and business exchange events, which are taking place in both Vietnam and Singapore this year, have contributed to cementing the bilateral relationship and strengthening the friendship between the peoples of the two countries.
Vietnam and Singapore have jointly participated in many multilateral organisations and forums; and have shared a common stance on many international and regional issues. As important members whose voices are respected in ASEAN, the two countries continue to work together to strengthen solidarity and unity and promote the central role of the association.
Vietnam and Singapore are both members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), the two countries have exerted efforts to make effective use of the benefits brought about by the agreements, which have made practical contributions to the economic development of each country, as well as the region.
Leaders at all levels, experts, scholars and organisations from the two countries have agreed that the achievements gained over the past years laid a solid foundation for the friendship and cooperation between Vietnam and Singapore.
The two countries share common interests and have a lot of potential for further cooperation. Therefore, it is believed that the Vietnam-Singapore strategic partnership will develop even more brilliantly, for the interest of the two peoples as well as for peace, cooperation and development in the region and the world at large.
