Singapore, Saudi Arabia signs MoU’s on improving logistics, supply chain

The two countries will launch a programme to enhance technical and vocational education.

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 signed two Memorandum of Understanding for improving logistics and supply chain and an implementation programme that aims to enhance cooperation in the area of technical and vocational education during the 4th Saudi Arabia-Singapore Joint Committee (SSJC) Ministerial Meeting.

During the meeting, the co-chairs affirmed the robust partnership between the two countries and discussed potential areas of collaboration.

The Saudi Ministry of Transport and Logistics Services (MOTLS) and MTI signed an MoU to facilitate the exchange of information on best practices and policies in logistics.

Additionally, Saudi Arabia’s National Industrial Development and Logistics Programme (NIDLP) and PSA Ventures signed an MoU to collaborate on identifying, supporting, and investing in promising start-ups. The partnership will focus on developing Minimum Viable Products (MVPs) with a clear path to commercial scale, driving innovation in high-impact technologies that shape the future of global supply chains.

The two countries will also launch an implementation to enhance cooperation in the area of technical and vocational education.

In 2024, KSA was Singapore’s second largest trading partner in the Middle East, and 22nd largest trading partner in the world. The bilateral trade in goods between the two countries was about $10.8b, a 1.8% increase year-on-year.

In 2023, the bilateral trade in services between the two countries was about $2.8b, a 19.3% increase year-on-year.

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