The Saudi-Singapore Strategic Partnership Council aims to strengthen cooperation across politics, economics, defence, and people-to-people ties, marking a historic milestone in bilateral relations.
Singapore, 15 January 2025 – In a significant step forward in bilateral relations, Minister for Foreign Affairs Dr Vivian Balakrishnan and His Highness Prince Faisal Bin Farhan Al Saud, Minister of Foreign Affairs of Saudi Arabia, signed a Memorandum of Understanding (MOU) at the Ministry of Foreign Affairs, Singapore, to establish the Saudi-Singapore Strategic Partnership Council.
This landmark partnership, announced during Singapore’s then-Prime Minister Lee Hsien Loong’s visit to Saudi Arabia in October 2023, is Singapore’s first strategic partnership with a Middle Eastern nation. Co-chaired by Prime Minister Lawrence Wong and Saudi Arabian Crown Prince Mohammed Bin Salman, the council seeks to foster collaboration across politics, economics, defence, security, and cultural exchanges.
Dr Balakrishnan highlighted the timely nature of the partnership, citing robust ties and the shared commitment to growth. He noted that in 2023, bilateral trade in goods reached S$10.6 billion, while foreign direct investment from Saudi Arabia totalled S$4.1 billion in 2022. Saudi Arabian companies such as Aramco and the Saudi Basic Industries Corporation have made significant investments in Singapore, further enhancing economic ties.
Beyond economics, the partnership also underscores cultural and religious collaboration, with Saudi Arabia playing a key role in facilitating pilgrimages for Singapore’s Muslim community. Dr Balakrishnan expressed gratitude for Saudi Arabia’s long-standing support and appealed for an increase in Singapore’s Hajj quota.
Prince Faisal affirmed Saudi Arabia’s commitment to fostering deeper relations, emphasising alignment with Saudi Vision 2030, which presents new avenues for trade and investment. He praised Singapore’s global financial hub status and welcomed opportunities for mutual growth.
The leaders also touched upon pressing global issues, including the Middle East conflict, advocating for a two-state solution and enhanced international humanitarian efforts.
The signing of the MOU reflects the shared vision and aspirations of both nations’ leaderships to unlock the full potential of this vibrant partnership.
Source: MFA
