Singapore Post (SingPost) and the largest provider of postal services in Lithuania, Lietuvos paštas (Lithuania Post), will collaborate to explore opportunities in postal and express delivery sectors, after signing a memorandum of understanding (MOU) on May 8.
The MOU outlines several areas of collaboration including the exploration of new solutions for e-commerce and international parcel flows.
“The goal is to expand service offerings, enhance service quality, and meet evolving customer needs,” said both logistics giants in a joint release on Tuesday (May 14).
SingPost and Lithuania Post will also strengthen mutual support with the global postal network, the Universal Postal Union and relevant international postal organisations to advocate for policies and practices that benefit the wider postal community under the MOU.
Li Yu, chief executive officer of SingPost international, said borders should be easily transcended in the future with seamless and reliable deliveries.
“This MOU signifies a commitment to explore innovative solutions that will benefit our customers, our businesses, and chart new paths of cooperation based on mutual benefit and trust,” said Li.
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On top of sharing expertise, SingPost and Lithuania Post will cooperate on understanding postal laws and regulations, universal postal services and market supervision to explore potential cooperation opportunities.
The signing ceremony took place in Singapore in the presence of senior representatives from SingPost and Lithuania including Marius Skuodis, Minister of Transport and Communications of the Republic of Lithuania, Darius Gaidys, Ambassador of the Republic of Lithuania to Singapore and Rolandas Zukas, CEO of Lithuania Post.
As at 10.36 am on Tuesday, shares of SingPost were trading up 2.1 per cent or S$0.01 to S$0.48.
