SINGAPORE, 13 April 2006 — Saudi Arabia and Singapore intend to establish a long-term economic partnership and expand their cooperation in the energy sector, according to a joint communiqué issued at the end of Crown Prince Sultan’s three-day visit to Singapore.
“Crown Prince Sultan and Prime Minister Lee Hsien Loong discussed ways of strengthening bilateral relations and achieving a long-term, comprehensive economic partnership,” said the communiqué.
Sultan, the first and highest-ranking Saudi official to visit Singapore, arrived here on Monday with a high level delegation and met top officials including President S.R. Nathan, Minister Mentor Lee Kuan Yew and Defense Minister Teo Chee Hean.
The visit saw the signing of four landmark agreements for promoting general cooperation; for enhancing political consultation between the two foreign ministries; for the promotion and protection of mutual investments; and for the setting up of a Saudi-Singapore Business Council and the opening of a Saudi Arabian General Investment Authority (SAGIA) office in the country.
The two countries emphasized the need for resolving international and regional disputes on the basis of UN resolutions as well as for promoting peace and dialogue between nations.
In this respect, Singapore supports the statement made by Custodian of the Two Holy Mosques King Abdullah condemning the idea of a clash of civilizations and calling for peaceful coexistence of all civilizations based on respect for one another.
“Sultan and Premier Lee supported the dialogue between Asian and Middle Eastern countries and expressed their satisfaction at the progress of relations between the two sides, boosting constructive cooperation and understanding,” the joint communiqué said.
Saudi Arabia and Singapore reviewed the benefits of free trade and regional trade agreements and agreed to enhance their cooperation and coordination within the framework of the World Trade Organization (WTO) and regional economic groups.
Referring to Middle East peace, the two countries called for a just and comprehensive solution to the Palestinian issue based on UN resolutions and the Arab peace plan, proposed by King Abdullah and approved by the Arab Summit held in Beirut in 2002.
The two sides vowed to continue their cooperation to combat terrorism, considering it an epidemic that threatens security and stability throughout the world. Singapore backed the resolutions passed by the international counterterrorism conference held in Riyadh last year along with King Abdullah’s proposal to establish an international counterterrorism center.
Sultan supported the plan to sign a free trade agreement between Singapore and the Gulf Cooperation Council which groups Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates.
Singapore underscored the leading role played by Saudi Arabia to stabilize the international oil market. Sultan said the Kingdom would continue to play a leading role in stabilizing the oil market, adding that it has launched a $50 billion program to increase output to 12.5 million barrels per day by 2009.
Sultan has welcomed Singaporean companies and businessmen to invest in the Kingdom’s key sectors such as desalination, power generation, gas exploration, minerals, air transport, airports, seaports, services and telecommunications.
Minister for Defense Hean called on Prince Sultan yesterday afternoon. Teo later hosted a lunch for Prince Sultan and his delegation.
Teo noted the growing relationship between Saudi Arabia and Singapore, and agreed that the bilateral relationship would grow stronger with the current visit of Prince Sultan. They also reaffirmed the need for closer engagement between Asia and the Middle East.
The meeting underscores the friendly defense ties between Saudi Arabia and Singapore. The Royal Saudi Armed Forces have attended the Command and Staff Course conducted by the Singapore Armed Forces. There is also a regular exchange of visits by both armed forces for defense exhibitions and professional events. Such interactions help to foster mutual understanding and enhance the relationship between the two armed forces.
Sultan arrived in Singapore on the second leg of an Asian tour that will also take him to Pakistan. Last week, he visited Japan, the Kingdom’s second largest trading partner after the United States, and met Emperor Akihito and Prime Minister Junichiro Koizumi. The crown prince’s foreign tour concludes with a state visit to Pakistan that begins on Saturday.
Also yesterday, Prince Sultan donated $1.5 million to three Islamic organizations in Singapore. He gave $500,000 to the Supreme Islamic Council, a government body that oversees the activities of all Islamic organizations in the country, to establish an Islamic school. The Association for Islamic Propagation and the Muhammadiya Association also received $500,000 each to carry out their Islamic, social and charitable activities.
