Closer cooperation important for both sides to recover together from pandemic: Singapore and Vietnam

SINGAPORE: Singapore and Vietnam have agreed on the importance of closer cooperation to help both sides recover together and emerge stronger from the COVID-19 pandemic, the countries said in a joint statement on Friday (Feb 25).

The statement comes during Vietnam President Nguyen Xuan Phuc's three-day trip to Singapore – the first state visit Singapore has received since the start of the pandemic in 2020.

President Phuc’s visit also comes ahead of key milestone anniversaries in 2023: the 50th year of diplomatic relations, and the 10th anniversary of the countries’ strategic partnership.

During his visit, Mr Phuc called on Singapore President Halimah Yacob, and also met with Singapore Prime Minister Lee Hsien Loong. Along with Mr Lee, he witnessed the signing of five agreements and Memoranda of Understanding (MOU) across defence, trade and other topics.

In a joint statement, Singapore and Vietnam said Mdm Halimah and Mr Phuc welcomed the “excellent progress” made in strengthening the strategic partnership between the countries.

They also discussed the impact of the ongoing COVID-19 pandemic on both countries and welcomed the mutual provision of medical supplies between both sides since the pandemic began.

For instance, Singapore has donated antigen rapid tests, nasopharyngeal swabs, surgical masks and ventilators to Vietnam. Vietnam has also donated face masks, protective suits and ventilators to Singapore.

“The two sides recognised the importance of closer cooperation to enable both countries to recover together, and emerge stronger from the pandemic, toward a robust, inclusive, and sustainable recovery,” added the statement.

COOPERATING IN AREAS OF MUTUAL INTEREST

In addition, both leaders emphasised the importance of keeping the partnership “forward-looking and ambitious”, by cooperating more in “new areas of mutual interest” such as the digital economy and green economy.

To that end, both sides welcomed the slew of MOUs signed, some of which covered these areas.

“Recognising the complementarities of both economies, the Leaders agreed to leverage common trade agreements to strengthen bilateral economic ties.”

The leaders also noted “the strong development in bilateral trade and investment cooperation despite pandemic-driven disruptions”.

In particular, Singapore has been Vietnam’s largest source of foreign investment since 2020. It is also Vietnam’s second largest cumulative foreign investor with a total registered capital of US$66 billion as of January 2022.

Both sides also acknowledged the 25th Anniversary of the first of the Vietnam-Singapore Industrial Parks (VSIPs). There are now 10 VSIPs, which have altogether attracted US$14 billion of investments and created 270,000 jobs.  

The leaders also acknowledged the “good progress” in defence and security cooperation, while also emphasising cooperation in fighting transnational crimes such as terrorism and cybercrimes.

“The two sides agreed to expedite efforts to conclude a MOU on cybersecurity cooperation,” said the statement.

GREEN ECONOMY, CLIMATE CHANGE

In addition, both leaders “underscored the importance of advancing environmental protection, climate action, and sustainable development” for the well-being of their people and the planet.

Vietnam welcomed Singapore’s interest to support its ongoing energy transition, including investments in low-carbon energy technologies.

It also supported Singapore’s interest in developing renewable energy sources in the country, with a view to "export part of the electricity back to Singapore in the longer term".

“This can support the decarbonisation of power grids in both Vietnam and Singapore, in line with broader regional decarbonisation interests.”

REGIONAL AND INTERNATIONAL DEVELOPMENTS

In discussing regional issues, both leaders also “emphasised the importance of strengthening ASEAN Centrality and unity”, and “upholding rules-based multilateralism” for peace and stability in the region.

The statement said they reiterated ASEAN’s “consistent position” on the South China Sea and reaffirmed the “importance of maintaining peace, security, stability, safety, and freedom of navigation and over-flight in and above the South China Sea”.

In addition, they underscored the importance of conducting “substantive negotiations” towards the conclusion of an effective Code of Conduct in the South China Sea (COC) in accordance with international law.

The leaders also expressed “deep concern” about the situation in Myanmar, including the lack of progress in the implementation of the ASEAN Five-Point Consensus.

Both sides called on Myanmar to fully implement this, including by facilitating the ASEAN Special Envoy’s visit to Myanmar to meet with all the parties concerned.

“The Leaders also called for Myanmar to avoid actions that would be inimical to eventual national reconciliation in Myanmar,” the statement said.