First Vice Prime Minister, Finance Minister Mykola Azarov met with Minister for Finance of
Singapore Lee Hsien Loong.
The parties discussed trade and economic cooperation between the countries, exchanged
information on economic development and cleared new models of intensification of relations.
The parties negotiated on holding business fora in Ukraine and Singapore and considered
introduction of non-visa regime.
Mykola Azarov also held a meeting with the Vice Prime Minister of Singapore, the National
Defense Minister and the Justice Minister.
In turn, the Prime Minister of Singapore confirmed social development, social standards rise and
wage increase should be based upon economic growth.
Mykola Azarov also met with Deputy Director of the Monetary Institution of Singapore, made tour
of the mint and met with business figures.
25.01.2007
Embassy of Ukraine in the Republic of Singapore
Mykola Azarov holds negotiations on
intensification of bipartite relations
Jan 27, 2007
Ukraine leader pleased with talks here
GOOD MEETING: Ukraine's First Vice-Prime Minister Mykola Azarov calls on Minister Mentor
Lee Kuan Yew as part of his four-day official visit.
FEW Singaporeans have taken the 15-hour flight to visit Ukraine.
Ukraine's First Vice-Prime Minister Mykola Azarov wants Singapore businessmen to know that his
country of 47 million people is replete with history, scientific expertise and investment opportunities.
Summing up his four-day official visit last night, Mr Azarov - who is also Finance Minister - said his
meetings with top leaders here were 'very good, especially since this is our first such top-level visit to
Singapore'.
He met Prime Minister Lee Hsien Loong, Minister Mentor Lee Kuan Yew and Deputy Prime Minister
S. Jayakumar.
On his meeting with MM Lee, Mr Azarov said: 'I have read his memoirs in Russian and learnt how he
transformed Singapore. I told him he's a great man. He smiled.'
A Ukrainian translation of MM Lee's memoirs will be published in the coming months, said Mr Azarov.
Earlier yesterday, Mr Azarov and Minister for Education and Second Minister for Finance, Mr
Tharman Shanmugaratnam, signed an Avoidance of Double Taxation Agreement.
The agreement - the 61st Singapore has signed - is 'a helpful further step that will lead to greater flow
of investment, trade, expertise and knowledge', Mr Tharman said at the signing ceremony.
Last September, Ukraine and Singapore also signed an investment guarantee agreement.
Bilateral relations were established in 1992 - the year after Ukraine gained independence with the
collapse of the Soviet Union.
The value of bilateral trade was $774 million last year, said the Ministry of Trade and Industry. Ukraine
sells mainly petroleum oil and steel products to Singapore.