SINGAPORE — Saudi Arabia and Singapore announced the launch of a joint Saudi-Singapore Business Council with the aim of increasing the volume of trade and investment exchanges between the two countries.

The joint council was launched during the activities of the Saudi-Singapore Business Forum held recently in Singapore. The Federation of Saudi Chambers (FSC) and the Singapore Business Federation (SBF) announced the launch of the Joint Business Council in the presence of Saudi Commerce Minister Dr. Majid Al-Qasabi and his Singaporean counterpart.

The Saudi-Singapore Business Council will open new avenues for economic cooperation, facilitating the continuous interaction between the business sectors of the two countries, exchanging information about the opportunities and markets, in addition to organizing exhibitions and conferences, visits by trade delegations, and other activities.

Saudi Arabia and Singapore have strong economic and trade relations, as the volume of trade exchange between the two countries reached about SR45.2 billion in 2022, achieving a growth of 50.8%.

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