Top legislator begins tours to Singapore, Australia
07:27 | 26/11/2017
VGP - NA Chairwoman Nguyen Thi Kim Ngan will discuss ways to boost legislative cooperation with Singapore and Australia during her official visits to the two countries from November 26 to December 2.

Viet Nam and Singapore set up diplomatic ties on August 1, 1973. Since then, the two countries have enjoyed development in bilateral relations, especially in politics, economics, security, defense, education, health, culture and coordination at regional and international forums.

Since 1996, Singapore has been one of Viet Nam's largest partners. Now, Singapore is the 6th largest trade partner of Viet Nam while Viet Nam is the 11th biggest trade partner of Singapore. The two-way trade stood at US$7.1 billion last year.

Viet Nam exports rice, aquatic products, coffee, pepper, vegetables and crude oil to Singapore, while importing oil and gas, computer, electronic products, and mobile phones from the country.

As of September, Singapore ranked 3rd out of the 126 nations and territories investing in Viet Nam, with 1,927 projects worth US$41.5 billion. Meanwhile, Viet Nam poured US#241 million into 65 projects in Singapore.

Over the past years, the relations between the two legislative bodies have grown well. They have maintained the regular exchange of high-level delegations as well as close coordination at the Inter-Parliamentary Union, Asia-Pacific Parliamentary Forum, and ASEAN Inter-Parliamentary Assembly.

Viet Nam and Australia have enjoyed growing partnership. Australia is Viet Nam’s 8th biggest trade partner with bilateral trade exceeding US$5 billion in 2016.

Australia is the 19th largest investor of Viet Nam with 378 projects capitalized at US$1.7 billion, while Viet Nam is running 17 investment projects worth US$137 million.

Australia is also among Viet Nam's largest ODA providers, with over US$99 million per year between 2010 and 2015.

Viet Nam's Legislature first signed a cooperation agreement with the Australian House of Representatives in 2008 on the occasion of then NA Chairman Nguyen Phu Trong’s official visit to Australia.

During the Viet Nam visit by then Speaker of the House of Representatives Anna Burke in 2013, a cooperative agreement between the Vietnamese legislature and Australia’s Parliament was inked.

These documents have been served as a legal foundation to promote and deepen bilateral cooperation between the two legislative bodies./.

By Hoang Ha

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