Singapore and Egypt sign 7 MOUs as both sides commit to deeper partnership

Singapore and Egypt will collaborate in a wide range of areas, including healthcare, food security and social services, as they seek to strengthen and broaden their relationship.

- Samuel Devaraj

President Tharman Shanmugaratnam witnessed the signing and exchange of seven memorandums of understanding on Sept 20 with his counterpart, Egyptian President Abdel Fattah al-Sisi.

These collaborations reflect the two countries' joint commitment to a deeper and more multifaceted partnership, said Mr Tharman, who is on a state visit in Cairo till Sept 22.

Speaking to the media after a meeting with Mr Sisi, he said Singapore believes in Egypt's economic potential and the two leaders had discussed how the countries could take their economic cooperation further.

He noted that Singapore has been among the largest Asian investors in Egypt over the last decade.

"Such cooperation is particularly important when we see protectionist currents rising, and body blows being delivered to an open and fair global economic order," he said.

Singapore's direct investment in Egypt is currently valued at about $530 million, while Egypt is Singapore's eighth-largest trading partner in Africa, with bilateral trade in services valued at over $1.3 billion as at 2023.

Another four memorandums and two agreements are expected to be signed during the remainder of Mr Tharman's visit.

The documents that will be exchanged during the visit cover a wide range of fields, including cooperation in healthcare, such as combating noncommunicable diseases and developing effective hospital information systems.

They also cover food security, capacity building, social services, and efforts to support small and medium-sized enterprises and startups.