Singaporean President S.R Nathan and his wife on February 25 started an official visit to Vietnam from February 25-29 at the invitation of his Vietnamese counterpart Nguyen Minh Triet.

This will be the second visit to Vietnam by President Nathan since he took office in 1999.

The Vietnamese people are pleased with the positive developments in friendship and co-operation between the two countries in the fields of politics, trade, investment, culture, education and security since the establishment of diplomatic ties on August 1, 1973.

After Vietnam signed the Bali Treaty in July 1992 and then became a member of the Association of Southeast Asian Nations (ASEAN) in July 1995, bilateral relations entered a new period of development. Singapore attaches great importance to promoting co-operative ties with Vietnam.

During the visit to Singapore by Prime Minister Phan Van Khai in March 2004, the two countries signed a joint communique on comprehensive co-operation in the 21st century, creating a legal basis and favourable conditions for the promotion of friendship and multifaceted co-operation.

The fine bilateral relations have been marked by the exchange of high-level visits including the recent Singapore visit by Prime Minister Nguyen Tan Dung on August 13-14, 2007 and Singaporean Prime Minister Lee Hsien Loong's visit to attend the APEC Summit in December 2006 in Vietnam.

Singapore was one of the first four ASEAN countries that have entered Vietnamese market since the 1990s and has become of one of Vietnam's largest partner in trade and investment.

Singapore's investment projects in Vietnam have seen positive results, especially the Vietnam-Singapore Industrial Park in Binh Duong which is considered a model in terms of investment co-operation between Vietnam and other foreign businesses.

In 2007, two-way trade turnover reached about US $8.6 billion, the highest level so far. Vietnam has become one of Singapore’s key markets for trade and investment co-operation in Southeast Asia .

Singapore's investment projects in the fields of infrastructure, services and asset trading have seen high efficiency, contributing a significant part to creating jobs and boosting Vietnam's exports and economic growth.

The framework agreement on connecting the two economies, with finance, investment, trade-service, transportation, telecommunication-information technology and education have become major areas of co-operation, bringing about initial positive results. Both sides have agreed to consider the expansion of co-operation to other fields.

Educational and cultural relations between the two nations have been increasingly broadened and strengthened. As both are members of ASEAN, Vietnam and Singapore have closely co-ordinated with each other in the bloc's co-operational framework in building a ASEAN Community by 2010 and the ASEAN Charter as well as at international forums such as ASEM, APEC and the United Nations.

It is expected that the visit by President President S.R Nathan and his wife will help enhance the friendship and multifaceted co-operation between Vietnam and Singapore, thus lifting bilateral ties to new heights, meeting mutual aspirations and interests and contributing to peace, stability, co-operation and development in Southeast Asia and the world at large.

NHAN DAN