Prime Minister Lee Hsien Loong and US President Donald Trump issued a joint statement on Tuesday (Oct 24), reaffirming the two countries’ strong and enduring partnership especially in the economic, defence, security, and people-to-people spheres.

Moving forward, the two leaders said they support the expansion of economic ties through closer cooperation in areas such as bilateral tax issues. The two countries aim to sign two new agreements – a tax information exchange agreement and a reciprocal intergovernmental agreement to implement the Foreign Account Tax Compliance Act – by the end of the year.

The joint statement comes a day after the two leaders met and took US-Singapore relations forward in witnessing the signing of a deal worth US$13.8 billion for Singapore Airlines (SIA) to purchase 39 Boeing aircraft.

Mr Lee described the deal as a win-win for both sides as it will further modernise SIA’s fleet and support American jobs. According to President Trump, the deal will create 70,000 jobs in America.

To strengthen security cooperation, Singapore will extend to 2018 its support to the US-led coalition to defeat Islamic State.

Beyond the bilateral relationship, the two leaders reaffirmed their commitment to fully implement UN Security Council Resolutions on North Korea and to consider additional measures to compel the North Korean regime to engage in meaningful dialogue about a different future.

Both leaders also expressed their concerns over the humanitarian situation in the Rakhine State and on the border between Myanmar and Bangladesh.

They called for the expeditious delivery of humanitarian assistance to all affected communities and expressed their support for ASEAN’s role in working with the government of Myanmar to do so.

They also urged the Myanmar government to end the violence and implement the recommendations of the Advisory Commission on Rakhine State in the shortest time possible.

On the South China Sea maritime disputes, the two leaders underscored the importance of a peaceful resolution including full respect for legal and diplomatic processes, and reiterated their support for the expeditious conclusion of an effective and binding Code of Conduct.

The two countries also reaffirmed their commitment to ASEAN centrality and the importance of strengthening the regional architecture to effectively address common trans-national challenges.