The two sides welcomed exchange of documents for ratifying the general agreement for cooperation between the two countries, signing a memorandum of understanding for political consultation between the foreign ministries of the two countries as well as signing a memorandum of program for trade cooperation in addition to signing an agreement for the protection and encouragement of general investments, formation of the Saudi-Singaporean business council and opening an office for the Saudi Arabia General Investment Authority (SAGIA) in Singapore. The two sides highlighted the advantages of the freedom of the world trade and the regional trade agreements. Singapore congratulated the Kingdom for its admission to the World Trade Organization (WTO). The two sides agreed to further coordinate and cooperate within the framework of the WTO and the regional economic blocs. The Kingdom expressed support to the agreement of the free trade due to be signed by Singapore and the GCC member states. Singapore appraised the Kingdom's role as regards realizing stability at the oil market.--MORE 13 45 Local Time 10 45 GMT www.spa.gov.sa/353168