lim hng kiang : brief overview of economic links between vietnam and singapore opening remarks by mr lim hng kiang, deputy chairman of the monetary authority of singapore and minister for trade and industry, at the launch of vietnam - singapore listing preparatory program, hanoi, 2 april 2007. * * * his excellency, vu van ninh minister of finance of the socialist republic of vietnam distinguished guests ladies and gentlemen it gives me great pleasure this morning to join his excellency, minister vu and all of you in hanoi at the official launch of the vietnam - singapore listing preparatory program. as minister vu has shared earlier, today ’ s programme adds yet another pillar to our growing economic relationship. today ’ s launch is especially meaningful for me, as looking back at 2005, our two countries inked a historic framework agreement on vietnam - singapore connectivity to strengthen our relations and to cooperate across the many areas in which we have shared interests. i am thus very glad that my officials from the monetary authority of singapore have been working closely with vietnam ministry of finance and the state securities commission to see through the implementation of the terms provided under the connectivity agreement. the objective of the connectivity agreement had been to build closer government - to - government relations between vietnam and singapore, to bring about more opportunities for mutual collaboration and exchanges between our two countries. more importantly, we believe that by working together in partnership, vietnam and singapore can present an even more compelling proposition to global investors and to raise the profile of asean markets. vietnam and singapore have always enjoyed strong economic linkages. bilateral trade between singapore and vietnam rose by 8. 6 % to us $ 7. 4 billion in 2006, making singapore vietnam ’ s 4th largest trading partner. likewise, vietnam is singapore ’ s 14th largest export market, with over us $ 5. 7bn worth of exports in 2006. in the last few years, we have witnessed how vietnam ’ s economy has flourished, spurred by an impressive growth rate of more than 8 %. vietnam is now asia ’ s secondfastest - growing economy, trailing only china ’ s. touted as asia ’ s newest economic tiger, we have seen vietnam ’ s stock market index surged 144 % last year and its market capitalisation developed from less than us $ 1 billion to more than us $ 14 billion now. these results have been due to vietnam ’ s commitment towards market liberalization and its steadfastness in working towards your accession into the world trade organization. vietnam ’ s strong economic story

jean - claude trichet : ecb press conference – introductory statement introductory statement by mr jean - claude trichet, president of the european central bank, and mr vitor constancio, vice - president of the european central bank, frankfurt am main, 7 april 2011. * * * ladies and gentlemen, the vice - president and i are very pleased to welcome you to our press conference. before we report on the outcome of today ’ s meeting, we wish to express our sincere sympathy to the people of japan, after the tragic events and lamentable loss of life. all our thoughts are with those who have suffered directly or indirectly from the natural and nuclear disaster. let me now start reporting on the outcome of today ’ s meeting. based on its regular economic and monetary analyses, the governing council decided to increase the key ecb interest rates by 25 basis points, after maintaining them unchanged for almost two years at historically low levels. the adjustment of the current very accommodative monetary policy stance is warranted in the light of upside risks to price stability that we have identified in our economic analysis. while our monetary analysis indicates that the underlying pace of monetary expansion is still moderate, monetary liquidity remains ample and may facilitate the accommodation of price pressures. all in all, it is essential that the recent price developments do not give rise to broad - based inflationary pressures over the medium term. our decision will contribute to keeping inflation expectations in the euro area firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2 % over the medium term. such anchoring is a prerequisite for monetary policy to contribute to economic growth in the euro area. at the same time, interest rates across the entire maturity spectrum remain low. thus, the stance of monetary policy remains accommodative and thereby continues to lend considerable support to economic activity and job creation. recent economic data confirm that the underlying momentum of economic activity continues to be positive, with uncertainty remaining elevated. we will continue to monitor very closely all developments with respect to upside risks to price stability. as stated on previous occasions, the provision of liquidity and the allotment modes for refinancing operations will also be adjusted when appropriate, taking into account the fact that all the non - standard measures taken during the period of acute financial market tensions are, by construction, temporary in nature. accordingly, the governing council will continue to monitor all developments over the period ahead very closely. let me now