Prime Minister to Visit Five ASEAN Countries

Vietnamese Prime Minister Nguyen Tan Dung will make a trip to five Southeast Asian nations including Indonesia, the Philippine, Singapore, Myanmar, and Brunei from August 8-17, according to an announcement July 26 by Foreign Ministry.

 

The visits aim to strengthen friendship and boost economic, trade and investment cooperation between Vietnam and the regional countries.

 

The trip was made at the invitation of Indonesian President Susio Susilo Yudhoyono, Philippine President Gloria Arroyo, Singapore Prime Minister Lee Hsien Loong, Myanmar Prime Minister Soe Win, and King of Brunei Hassannal Bolkia.

Vietnam and Indonesia established diplomatic ties in 1955. During the visit by Former Prime Minister Phan Van Khai to Jakarta last year, the governments of Viet Nam and Indonesia in 2006 reached a consensus on assigning their Ministries of Foreign Affairs to design the 2006-2010 action plan for the Joint Declaration on the Framework of Comprehensive Cooperation in the 21st century. The joint declaration would formulate strategic partnership relations between the two countries, fostering long-term stability in the region.

 

Vietnam and Singapore set up diplomatic relations in 1973. However, after its entry into ASEAN Vietnam has become one of the key trade and investment partners of Singapore in the region. Particularly, during the visit by Former Prime Minister Phan Van Khai in March 2004, the two countries signed a joint statement on comprehensive cooperation framework for the 21^st century. In December 2005, Vietnam and Singapore officially signed a framework agreement on the linking of their economies.

 

In the first seven months of 2007, Singapore stood at second position among foreign investors in Vietnam after South Korea.

 

Vietnam and Myanmar officially established diplomatic ties in 1975. They agreed to strive to increase their bilateral trade to $100 million in the 2007-08 fiscal year, from $40 million in 2004. Vietnam mainly exports consumer goods, pharmaceutical products and electricity equipment, while importing timber from Myanmar.

 

Vietnam and Brunei established diplomatic relations in February 1992. Since then, the two sides regularly exchanged high-ranking delegations. However, economic ties between the two nations are modest.

 

Vietnam and the Philippines set up diplomatic ties in 1976. They have targeted to achieve a two-way trade turnover of $2 billion this year from $1.39 billion in 2005. Rice has been the key item of Vietnam to export to the Philippine in many past years. Vietnam mainly imports fertilizer, equipment and machinery, liquidized gas, petroleum products, medicine, and construction materials.