SG, Saudi Arabia boost ties with 7 new MOUs

The MOUs cover the education, transport and logistics sectors and more.

Singapore and Saudi Arabi inked seven memoranda of understanding (MOUs) during the third Saudi Arabia-Singapore Joint Committee (SSJC) Ministerial Meeting.

The MOUs are as follows:

• MOU on Standards Cooperation 
• MOU on Investment Opportunities in the Education Sector 
• MOU on Investment Development of the Sports, Health and Fitness Industries 
• MOU in Ports, Transport and Logistics Sectors 
• MOU on Training & Development Opportunities 
• MOU on Collaboration to Facilitate Investments Between Singapore and Saudi Arabia Companies 
• MOU between Federation of Saudi Chambers (FSC) and SBF

During the meeting, the Second Minister for Trade and Industry Dr Tan See Leng and the Kingdom of Saudi Arabia's (KSA) Minister of Transport and Logistic Services Eng. Saleh bin Nasser Al Jasser also reaffirmed strong bilateral relations between both countries.

They also reiterated the benefits of working together in areas of mutual interest in connectivity, digital economy and innovation, and energy and industry. 

Singapore and KSA share a successful economic relationship. In 2022, KSA was Singapore's second-largest trading partner in the Middle East and 20th-largest trading partner in the world. Bilateral trade in goods between the two countries was $14.1 billion in 2022,  an increase of nearly 50% YoY.