Saudi Arabia looks to increase cooperation with Singapore to boost economy

Saudi Arabia is looking to strengthen cooperation with Singapore to further boost the economy and develop special zones for businesses.

The kingdom’s Minister of Commerce Majid Al-Qasabi has met with chairman of Singapore Economic Development Board Png Cheong Boon and the chairman of JTC Corporation Tan Chong Meng to discuss economic cooperation.

Among the items discussed at the meeting was “cooperation to stimulate the economy”, as well as the development of industrial zones and business parks, digitisation in manufacturing and commercial solutions offered to companies, the Saudi Press Agency reported on Monday.

Suadi Arabia was Singapore’s second-largest trading partner in the Middle East in 2021, with bilateral trade reaching S$9.56 billion ($6.9 billion), according to the Singapore Ministry of Trade and Industry.

Al-Qasabi also met on Monday Singapore’s Minister of Education Chan Chun Sing and Minister of Social and Family Development and Minister-in-charge of Muslim Affairs Masagos Zulkifli to discuss cooperation in education.
Source: Reuters (Writing by Cleofe Maceda; editing by Brinda Darasha)