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Singapore, Brazil sign series of cooperation agreements

In Uncategorized on November 28, 2008 at 5:12 pm

Hanoi (VNA) – Singapore and Brazil have signed a series of agreements regarding trade, air services and technology during Singaporean Prime Minister Lee Hsien Loong’s first visit to the Latin American country.

Under the bilateral air services agreement, inked on November 26, Singapore carriers can operate up to 14 weekly passenger services, and seven weekly air cargo services between Brazil and Singapore, as can Brazilian carriers, Singapore’s Channel News Asia (CNA) reported.

Singapore Airlines’ chairman, Stephen Lee, said the agreement will pave the way for direct air links between the two countries.

Under the trade and investment promotion agreement, a joint committee will be formed to exchange ideas on promoting trade and business.

Meanwhile, the science and technology agreement will see both sides collaborating in areas such as microbiology and dengue control, with a view to developing a vaccine against the disease.

During their meeting, the Singaporean PM, who visited Brazil on November 24-26, and Brazilian President Luiz Inacio Lula Da Silva noted that developing countries have a role to play in stabilising financial markets and fostering global growth.

They also stressed that there is an urgent need to reform international financial institutions to give greater voice and representation to developing countries.

According to CNA, Singapore is Brazil ‘s biggest trade partner among ASEAN countries and the sixth-largest in Asia. Trade between both sides has grown steadily over the years. In the past five years, trade volume has surged by 230 percent, making Brazil Singapore’s largest trade partner in South America. –

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