Japan, Singapore vow to boost economic ties

Japan and Singapore on Wednesday vowed to strengthen bilateral economic cooperation and confirmed plans to further promote trade and investment under a bilateral free trade agreement, Japan's Foreign Ministry said. During the meeting between Japanese Prime Minister Shinzo Abe and his Singaporean counterpart Lee Hsien Loong in Tokyo, the two leaders agreed to achieve close high-level communication so as to further develop bilateral economic ties, said the ministry. Abe explained to the Singaporean leader Japan's efforts to revitalize the country's economy, adding he would announce a growth strategy aiming at boosting private sector investment. Abe also said Japan would enhance its relations with countries from the Association of Southeast Asian Countries so as to contribute to the regional peace and prosperity. Lee welcomed Japan's participation in the U.S.-led Trans- Pacific Partnership, in which Singapore also involves, and said the growth strategy would improve fundamentals in Japan's economy and stimulate initiatives in the private sector. Lee arrived in Japan Tuesday and is expected to leave on Friday. During his stay, the prime minister will deliver a speech on Thursday at the International Conference on the Future of Asia that will be held in Tokyo.