PM Lee Hsien Loong hails close bilateral ties with Brunei

Prime Minister Lee Hsien Loong says Singapore-Brunei defence relationship is a hallmark of bilateral ties between the two countries.

Mr Lee begins his three-day visit to Brunei today, at the invitation of Brunei's Sultan Hassanal Bolkiah.

And both leaders expressed satisfaction with the strong bilateral relations.

Mr Lee was received by the Sultan's son and heir to the throne, Crown Prince Al-Muhtadee Billah.

Brunei and Singapore enjoy excellent relations, and Mr Lee hopes to further strengthen the ties.

Mr Lee also met Sultan Hassanal Bolkiah at the Istana Nurul Iman.

Mr Lee said Singapore and Brunei defence forces have built up excellent links through joint exercises, training and other cooperative arrangements.

He also expressed his appreciation for allowing Singapore troops to train in Brunei.

Both leaders will also commemorate the 45th anniversary of the Currency Interchangeability Agreement, which allows each country's currency to be used as customary tender in the other country.

Singapore and Brunei postal authority will also launch a commemorative stamp later this year as part of the anniversary.

Mr Lee and the Sultan welcome the proposal for the Monetary Authority of Singapore (MAS) and the Autoriti Monetari Brunei Darussalam (AMBD) to hold bilateral meetings to discuss monetary issues and areas of mutual interest.

They also agreed on the importance of maintaining regular exchanges and strengthening people to people ties.

Mr Lee invited the Sultan to visit Singapore.

Both countries will also look at ways to step up cooperation in education and youth exchanges.

Mr Lee and the Sultan discussed regional developments, including Brunei's preparations for its ASEAN Chairmanship.

Mr Lee expressed Singapore's full support for Brunei's leadership of ASEAN in 2013