JEDDAH: Growing trade ties between Saudi Arabia and Singapore were the highlight of a meeting at the Jeddah Chamber of Commerce and Industry (JCCI) on Tuesday.
The volume of bilateral trade between the two countries reached $12.8 billion in 2008 and it was progressing very fast, said JCCI Secretary-General Mustafa Sabri in his welcome speech to the visiting Singapore Business Federation delegation.
Sabri said the meeting was part of the Singapore delegation’s visits to Saudi chambers as well as different government departments and private sector establishments to form more joint ventures.
The meeting also reviewed investment projects in information technology, financial services and tourism. The meeting saw several presentations on various aspects of the Singapore economy and tourism as well as the “Jeddah Economic Gate.”
President of the Saudi-Singapore Business Council Abdulmoneem Morad, while welcoming guests, reviewed the existing projects between the two countries and ways to boost cooperation and overcome obstacles facing the council.
Tang Kin Fei, head of the Singapore delegation, presented a number of economic, financial and industrial projects.
The 30-member delegation represents sectors such as oil and gas, transport and logistics, IT, buildings and infrastructure, financial services, Montessori education, consumer products, tourism, architectural design, printing and trade and investment.