Prime Minister Lee Hsien Loong of Singapore and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia deepen historic ties, elevate relations to Strategic Partnership during official visit.
In a significant step towards fortifying bilateral relations, Prime Minister of the Republic of Singapore, Mr. Lee Hsien Loong, embarked on an official visit to the Kingdom of Saudi Arabia on October 18, 2023. During the visit, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, and Prime Minister, extended a warm welcome at the Al Yamamah Palace, where they delved into the extensive historical connections between their nations and discussed avenues for further collaboration.
Both sides, driven by a shared commitment to enhancing cooperation, agreed to elevate their relations to a Strategic Partnership, ushering in a new era of mutual benefit and progress across various sectors.
Prime Minister Lee conveyed his gratitude for the support extended to Singaporean pilgrims during the Haj, while also endorsing the Kingdom’s bid to host the 2034 World Cup.
One of the key highlights was the commendable progress made by the Saudi-Singapore Joint Committee (SSJC). In its third session held in Riyadh on October 17, 2023, both parties explored ways to bolster partnerships and collaboration, particularly in areas like connectivity, digital economy, innovation, energy, and industry.
The economic, trade, and investment domains witnessed fruitful discussions as both sides assessed global economic challenges and identified common interests. They celebrated a 51% surge in bilateral trade value in 2022 compared to the previous year, underscoring the significance of reinforcing cooperation. The Gulf Cooperation Council-Singapore Free Trade Agreement and increased private sector engagement in energy, digital economy, financial services, agriculture, food industries, transportation, and logistics were emphasized.
In the energy sector, a mutual commitment to global supply security was affirmed. Cooperation in low-carbon solutions, clean energy technologies, and innovation, including hydrogen solutions, carbon capture, storage, and renewable energy, took center stage. The Energy Cooperation Roadmap, stemming from a prior Memorandum of Understanding, will guide these efforts.
Singapore applauded the Kingdom’s “Saudi Green” and “Middle East Green” initiatives, lending support to their climate endeavors. Both parties advocated for a focus on emissions rather than sources in climate agreements.
Defense and security cooperation were spotlighted as a means to achieve heightened security and stability in both nations. Additionally, efforts to combat crimes in all forms were highlighted.
In the realm of international finance, there was a shared aspiration to enhance collaboration in fintech and innovation between the Saudi Central Bank and the Monetary Authority of Singapore.
Furthermore, commitments were made to deepen cooperation in fields such as environment, water, agriculture, and food security, digital economy and innovation, connectivity across air, land, rail, port, and logistics, tourism, culture, youth, education, and health.
On the international stage, both sides reiterated their dedication to upholding global peace and security. They also vowed to intensify efforts against extremism, fanaticism, hate speech, and terrorism while championing values of moderation, tolerance, and inter-faith harmony.
Prime Minister Lee expressed his gratitude for the warm reception, looking forward to reciprocating the hospitality during an official visit to Singapore. Crown Prince Mohammed bin Salman extended his best wishes for health and prosperity to Prime Minister Lee and the people of Singapore.
