RIYADH, 1 May 2005 — Deputy Prime Minister of Singapore Professor S. Jayakumar will arrive in Riyadh today on a four-day visit to the Kingdom, the Singapore Embassy announced yesterday.
Jayakumar, who will be heading a 40-member delegation of government officials and businessmen, will be accompanied by Minister of State for Trade and Industry Heng Chee How.
During the talks, Saudi authorities are expected to take up the issue of easing visa restrictions on Saudis wishing to travel to Singapore who now have to wait for a minimum of five days to get their entry visas processed. Singapore is likely to make it easier for Saudis to obtain visas under a special scheme whereby applicants who satisfy certain conditions may be issued multiple-entry visas valid for up to two years. This would make it easier for Saudis to visit Singapore for business, tourism, health care or education purposes.
The visiting team is composed of key government officials from the Foreign Ministry, International Enterprise Singapore, Monetary Authority of Singapore and businessmen from engineering, construction, medical, education and financial services.
The total trade between Saudi Arabia and Singapore reached nearly 10 billion Singapore dollars in 2004. Ninety percent of Saudi exports were petroleum and petrochemical products. Singapore exported food items and engineering equipment to the Kingdom during the same period.
The visiting team will hold talks with officials of Saudi Arabian General Investment Authority (SAGIA) 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.
