LONDON: Singapore Prime Minister Lee Hsien Loong met Lord Peter Mandelson in London on Wednesday.

Lord Mandelson is British First Secretary of State and Secretary of State for Business, Innovation and Skills.

Both men discussed issues related to the financial crisis and the banking sector.

Following Singapore's recent hosting of the APEC meetings, issues of trade liberalisation were also touched on.

On the economic outlook, both Mr Lee and Lord Mandelson noted that Asia's prospects are positive and expressed cautious optimism for the future.

Mr Lee is also expected to meet the leader of the British Conservative Party, David Cameron, later on Wednesday.

Mr Lee is in London on a one-day stopover before heading to Trinidad and Tobago for the Commonwealth Heads of Government Meeting.

- CNA/ir