Israeli Prime Minister Binyamin Netanyahu and Singapore Prime Minister Lee Hsien Loong met on Monday morning to discuss relations between the two countries.

"Thank you for the very warm welcome," Netanyahu said. "I have to say that this is my first time in Singapore. I'm following in your footsteps. You visited Israel for the first time, an historic visit. And as we landed here, I was absolutely amazed, tremendously impressed.

"As much as you hear about Singapore's success, to see it physically is quite startling and it tells you the power of people, the power of ideas, the power of the potential or rather of talent unleashed.

"So first of all, I want to thank you for your very warm welcome to me, to my wife and to our delegation. I believe that Israel and Singapore are kindred spirits. We're small nations that have become in many areas global powers, and I believe that our cooperation makes us even more successful, cooperation in every field.

"We have a joint R&D fund that has already funded 150 projects for Israeli and Singapore companies working together in a variety of fields, and I think that the opportunities are vast.

"We live in a technological age. The future belongs to those who innovate. Israel and Singapore are innovation nations, and together we can bring more prosperity, more hope for our peoples and I think for beyond our peoples, for the neighborhoods in which we live. We value the diversity in our societies, we value the pluralism in our societies, and we have much to learn from each other.

"I asked, Prime Minister, to visit one of your housing sites because this is an issue that you have resolved in your own way. We'd like to learn from you, as we do in many, many other areas. And I must say that we find this relationship particularly productive and valuable to ensure our security and prosperity for our peoples in the future.

"So I thank you for this opportunity, and I look forward to many future visits from you and from the President and of course for Israelis to visit Singapore. We admire you and we treasure our relationship."