RIYADH, 23 February 2005 — Singapore and the Kingdom are exploring the possibility of promoting trade and investment as part of a bilateral or multilateral agreement involving Saudi Arabia and other Gulf states.
This was one of the major topics discussed at a meeting held yesterday between Minister of Finance Dr. Ibrahim Al-Assaf and Singapore’s Senior Minister Goh Chok Tong, who also gave a strong hint of an easing in visa restrictions on Saudis as part of its drive to enhance bilateral relations with the Kingdom. During his four-day visit to the Kingdom Goh and his accompanying delegation will also meet Crown Prince Abdullah and other members of the royal family for an exchange of views on bilateral relations.
The decision to upgrade their diplomatic representation in the Kingdom from charge d’affaires to ambassadorial level follows a trough in their diplomatic relations during which Saudis alone had to go through severe visa restrictions after previously enjoying easy entry into Singapore. The new upturn in Saudi-Singapore relations has been widely featured in the network channels.
As part of the move, Singapore will also make it easier for Saudis to obtain visas under a special scheme whereby applicants who satisfy certain conditions may be issued a multiple-entry visa valid for up to two years. This would make it easier for Saudi businessmen or tourists to visit for business, tourism, healthcare or education purposes. Normally, a Saudi applicant has to wait for 10 to 15 days to get his visa stamped.
Meanwhile, representatives of the Saudi Arabian General Investment Authority (SAGIA) and Singapore held talks on how to encourage and protect investments in both countries. Both sides look forward to the signing of the Investment Guarantee Agreement in Singapore later this year.