Kingdom of Saudi Arabia (KSA)
Singapore and the Kingdom of Saudi Arabia (KSA) share a Strategic Partnership underpinned by strong trade and investment flows and business links. Our economic partnership is supported by the KSA-Singapore Bilateral Investment Treaty and the Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA).
Last updated on 12 November 2026
Singapore-Kingdom of Saudi Arabia Economic Relations
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Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng and KSA’s Minister of Transport and Logistic Services Saleh bin Nasser Al Jasser at the 4th Saudi Arabia-Singapore Joint Committee Meeting in Singapore on 17 February 2025.
Singapore and the Kingdom of Saudi Arabia (KSA) established diplomatic relations in 1977. Bilateral ties were elevated to a Strategic Partnership in 2023, chaired by Crown Prince Mohammed bin Salman and Prime Minister Lawrence Wong. The partnership has five ministerial-led committees covering economy and investment, political cooperation, defence, security, and social development and human resources. The Economy and Investment Committee will be co-chaired by Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng and KSA’s Minister of Transport and Logistics Services Eng. Saleh Al Jasser, and will focus on enhancing two-way ties in connectivity, energy, and the digital economy.
Singapore companies are actively participating in KSA’s Vision 2030 projects and operating key assets across the country. The Singapore-based port operator PSA International, through its joint venture with KSA’s Public Investment Fund, Saudi Global Ports, operates most seaports on KSA’s eastern coast. The aviation services company SATS Ltd. operates air cargo terminals at the main airports in Riyadh, Dammam, and Jeddah. Singapore is also a global node for the international operations of KSA’s oil, gas, and petrochemical companies. Aramco and its subsidiary, the Saudi Basic Industries Corporation (SABIC), have established regional headquarters, trading, and manufacturing operations in Singapore.
Bilateral Agreements involving Kingdom of Saudi Arabia
KSA-Singapore Bilateral Investment Treaty (BIT)
Signed on 10 April 2006 and entered into force on 5 October 2007. Negotiations are underway between both countries to upgrade the BIT in line with international best practices.
KSA-Singapore Agreement on Avoidance of Double Taxation (DTA)
The KSA-Singapore Agreement on Avoidance of Double Taxation (DTA) was signed on 3 May 2010 and entered into force on 1 July 2011.
Plurilateral Agreements involving Kingdom of Saudi Arabia
Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA)
The GSFTA was signed on 15 December 2008 and entered into force on 1 September 2013. Singapore was the first non-Middle Eastern country to sign an FTA with the GCC. The agreement eliminates 99% of tariffs on Singapore’s exports to GCC markets, safeguarding market access and ensuring a more predictable operating environment for companies. This has facilitated the flow of goods and services, boosting commercial activity between Singapore and the GCC.