In the context of strengthening the bilateral relations between the Kingdom of Saudi Arabia and the Republic of Singapore, Prime Minister of the Republic of Singapore Mr Lee Hsien Loong visited the Kingdom of Saudi Arabia on 3/4/1445 AH corresponding to 18/10/2023 AD.
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, and Prime Minister received Prime Minister Lee at the Al Yamamah Palace, where they reviewed the historical relations between the Kingdom and Singapore, and the means to deepen them in all areas.
Driven by the desire of the leadership of the two countries to enhance bilateral relations and cooperation, the two sides agreed to upgrade relations to a Strategic Partnership. This will allow the deepening and expansion of mutually beneficial cooperation across all fields.
Prime Minister Lee conveyed his appreciation to His Royal Highness for the support of Singaporean pilgrims performing the Haj. Singapore expressed its support for the Kingdom’s bid to host the 2034 World Cup.
The two sides welcomed the good progress made by the Saudi – Singapore Joint Committee (SSJC). The SSJC held its third session in Riyadh on 17 October 2023, during which both sides discussed ways to enhance partnerships and cooperation in various fields such as connectivity, digital economy and innovation, energy, and industry.
In the economic, trade and investment fields, the two sides reviewed challenges in the global economy and discussed the common economic interests between the Kingdom and Singapore. The two sides welcomed the growth in the value of bilateral trade in 2022 by 51% as compared to 2021. They stressed the importance of cooperating to enhance and diversify bilateral trade by tapping on and improving the Gulf Cooperation Council – Singapore Free Trade Agreement, as well as intensifying collaborations between their private sectors, in various fields including energy, digital economy, financial services, agricultural and food industries, and transport and logistics. The two sides affirmed the opportunities in investment partnerships provided by the programs and projects of the Kingdom’s Vision 2030 in various sectors, benefiting from the expertise and capabilities of Singapore companies, and holding joint commercial and investment events.
In the field of energy, the two sides stressed the need to ensure security of supply in global markets by encouraging dialogue and cooperation between countries. They emphasized cooperation in the fields of low carbon solutions and technologies, including clean and green hydrogen, as well as carbon capture, utilization and storage, electricity, renewable energy, energy efficiency and conservation, and innovation. This will be pursued under the Energy Cooperation Roadmap which is an implementation plan of the Memorandum of Understanding in the Energy Field, signed between the Ministry of Energy of the Kingdom and the Ministry of Trade and Industry of Singapore. Both sides agreed on the importance of enhancing cooperation in the fields of oil and refined products, and petrochemicals, as well as developing innovative technologies for the uses of hydrocarbon resources and energy efficiency.
On Climate Change, Singapore welcomed the Kingdom’s launch of the “Saudi Green” and “Middle East Green” initiatives and expressed its support for the Kingdom’s efforts in the field of climate change, through the implementation of the Circular Carbon Economy approach, which was launched by the Kingdom and endorsed by the Leaders of the G20 countries in 2020. The two sides stressed the importance of the principles of the Framework Convention on Climate Change and the Paris Agreement, and the need to develop and implement climate agreements by focusing on emissions rather than sources.
The two sides agreed to enhance cooperation in the defense and security fields and coordinate on issues of common interest, including combating crimes in all forms, which contributes to achieving security and stability in the two countries.
The two sides emphasized strengthening cooperation in international forums and international financial organizations to enhance efforts addressing the challenges facing global economy. The two sides expressed their aspiration to enhance cooperation and information sharing in the areas of fintech and innovation between the Saudi Central Bank and the Monetary Authority of Singapore.
The two sides also agreed to enhance cooperation in the following fields: (a) environment, water, agriculture and food security; (b) digital economy and innovation; (c) air, land, rail, port and logistics connectivity; (d) tourism, culture, and youth; (e) education; and (f) health including the support of global initiatives to confront pandemics as well as current and future health challenges and risks.
In international affairs, the two sides renewed their determination to support and intensify efforts to maintain international peace and security. They exchanged views on issues of mutual concern in the regional and international arenas and reaffirmed their determination to enhance cooperation in combating extremism, fanaticism, hate speech and terrorism, along with promoting moderation, tolerance, and inter-faith harmony.
At the conclusion of the visit, Prime Minister Lee expressed his thanks and appreciation to His Royal Highness for the good reception and generous hospitality Prime Minister Lee and the accompanying delegation received. Prime Minister Lee looked forward to welcoming His Royal Highness on an Official Visit to Singapore at a mutually convenient date. His Royal Highness expressed his best wishes for health and happiness to Prime Minister Lee, and further progress and prosperity to the Singaporean people.
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MINISTRY OF FOREIGN AFFAIRS
REPUBLIC OF SINGAPORE
MINISTRY OF FOREIGN AFFAIRS
KINGDOM OF SAUDI ARABIA
21 OCTOBER 2023