Brunei - Lee emphasises monetary, fiscal issues

SINGAPOREAN Prime Minister Lee Hsien Loong yesterday spoke of several bilateral projects that were on course to be implemented as a result of his three-day visit to Brunei.

Speaking to the media, the Singaporean premier said one of the projects to be established was a regular dialogue mechanism between the Monetary Authority of Singapore (MAS) and the Autoriti Monetari Brunei Darussalam (AMBD) to discuss monetary and financial issues and other areas of mutual interest.

Lee also said there would be further education co-operation, as well as exchanges between the youth of both countries. These were areas of collaboration that will benefit both sides, he said.

The prime minister also said his visit had underscored the need to bolster ties between Singapore and Brunei, which were formally established by His Majesty's late father and Lee Kuan Yew, Singapore's first prime minister.

In particular, it is important to nurture the good ties enjoyed by both sides' younger leaders, Lee said, adding that His Majesty had agreed to his proposal for Singapore DPM and Minister of Home Affairs Teo Chee Hean to lead a delegation of younger Singaporean ministers visiting Brunei next year so that they could interact with younger Bruneian leaders.

This would help build friendship between leaders on both sides, he said.

On economic links between Singapore and Brunei, the premier said the Currency Interchangeability Agreement (CIA) remained important and that the new dialogue between MAS and AMBD would help bring the CIA forward. Prime Minister Lee said Singapore was happy to welcome more tourists from Brunei and also encouraged Singaporeans to enjoy the Sultanate's natural beauty and peaceful environment.

AMIR NOOR

The Brunei Times

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