The week-long trip aims to consolidate Vietnam’s strategic partnership with Singapore and comprehensive partnership with Australia. Since diplomatic ties were established in 1973, Vietnam and Singapore have enjoyed fruitful cooperation in politics, economics, security, defense, education, health and culture. Singapore is the 6th largest trade partner of Vietnam while Vietnam is the 11th biggest trade partner of Singapore. Two-way trade reached more than 7 billion USD last year. As of September, Singapore ranked 3rd among foreign investors in Vietnam with nearly 2,000 projects worth 41 billion USD.

Meanwhile, Australia is Vietnam’s 8th biggest trade partner with bilateral trade exceeding 5 billion USD last year. Australia is the 19th largest foreign investor of Vietnam with nearly 380 projects worth 1.7 billion USD. It is also among Vietnam’s largest ODA providers, with 99 million USD per year during 2010-2015.