They both agreed to use the Joint Statement on Vietnam-Singapore Cooperation Framework in the 21st Century as an important legal foundation to assist the efforts to increase bilateral cooperation.

The two countries' relevant ministries have made great endeavours in implementing an agreement on connecting the two economies in the fields of investment; trade and services; finance; post and telecommunication and information technology; transport and communications; and education and training, the two leaders said.

During the meeting, PM Dung told his guest about Vietnam's future development orientations, including targets of escaping from the underdeveloped nation status, increasing per capita income to US$1,000 per year in 2010 and becoming an industrialised country by 2020.

Minister Mentor Lee spoke highly of Vietnam's developmental achievements and congratulated the country's admission to the World Trade Organisation and its successful organisation of the 14th APEC Economic Leaders' Meeting. He expressed his hope that the Vietnamese people will obtain more successes in the course of building the country into a prosperous one and heightening the country's role and prestige in the regional and international arena.

At the meeting, the two leaders discussed regional and international issues of mutual concern during which they pledged to continue collaborating in the framework of regional and international organisations and forums.

They both agreed that the Association of Southeast Asian Nations (ASEAN) has solidified its role not only in each member country but also in the Southeast Asia and Asia-Pacific regions as well as in the international arena.

Vietnam and Singapore will work with other ASEAN member countries to build an ASEAN Community based on three main pillars - Security Community, Economic Community and Culture and Society Community, the two leaders vowed.

Availing himself of this opportunity, PM Dung congratulated Singapore on its ASEAN Chair in 2007 and expressed his hope that Singapore will make important contributions to consolidate and promote cooperation in the grouping towards a dynamic and prosperous ASEAN community.

He also expressed thanks to Singapore for its support regarding Vietnam's entry into the WTO and its candidacy for a non-permanent seat in the United Nations Security Council in the 2008-09 term.

Late in the day, PM Dung hosted a banquet in honour of Minister Mentor Lee and his entourage at the Government Guest House.

Minister Mentor Lee's visit will last until January 20.

VOVNews/VNA