During the trip, Ngan is expected to discuss measures to strengthen cooperation between the Vietnamese NA and the two countries’ legislative bodies.
Vietnam and Singapore established their diplomatic ties on August 1, 1973. Since then, they have enjoyed development in bilateral relations, especially in politics, economics, security, defence, education, health, culture and coordination at regional and international forums.
Since 1996, Singapore has been one of Vietnam’s largest partners. Singapore is current the sixth largest trade partner of Vietnam while Vietnam is the 11th biggest trade partner of Singapore. Two-way trade reached US$ 7.1 billion last year.
Vietnam 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 third out of the 126 nations and territories investing in Vietnam, with 1,927 projects worth $41.5 billion. Meanwhile, Vietnam poured $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.
Meanwhile, Vietnam and Australia have enjoyed growing partnership. Australia is Vietnam’s eighth biggest trade partner with bilateral trade exceeding $5 billion in 2016.
Australia is the 19th largest investor of Vietnam with 378 projects worth $1.7 billion, while Vietnam is running 17 investment projects worth $137 million.
Australia is also among Vietnam’s largest ODA providers, with over AUD 130 million ($99 million) per year during 2010-2015.
Vietnam’s NA 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 Vietnam 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.