Saudi Arabia and South Africa Strengthen Economic Ties Across Key Sectors
Expansion in trade, investment, energy, mining, infrastructure, agriculture, healthcare, knowledge transfer, and maritime/air transport cooperation.
Riyadh: Saudi Arabia and South Africa have agreed to deepen economic cooperation across key sectors, including trade, investment, energy, mining, and infrastructure during the 10th session of their Joint Committee in Riyadh.
The committee has also reinforced efforts to boost collaboration in agriculture, healthcare, knowledge transfer in areas such as environment and logistics, according to the Saudi Press Agency (SPA).
The two countries have been bolstering their economic relationship over recent years.
In July, non-oil exports from Saudi Arabia to South Africa amounted to SR193.8 million ($51.65 million), while total non-oil trade between them stood at approximately SR5.7 billion in 2024, indicating growing bilateral engagement.
Citing Bandar Alkhorayef, the Minister of Industry and Mineral Resources in Saudi Arabia, the SPA report emphasized the call for 'building broader partnerships [with South Africa] that include knowledge transfer, skills development, and technical innovation, based on the Kingdom's Vision 2030 programs.' Alkhorayef also highlighted deep ties between Riyadh and Pretoria and urged both nations to capitalize on available opportunities to strengthen their economic partnership.
South Africa's Minister of Trade, Industry and Competition, Parkus Tau, described the Joint Committee session as a 'crucial milestone' in enhancing strategic relations between Riyadh and Pretoria.
Both countries share a commitment to advancing common interests and cooperation, he said.
Tau pointed out opportunities in South Africa’s automotive and iron sectors that require investment and technical partnerships, along with mining initiatives focused on exploration and critical minerals.
He also mentioned the attractiveness of South Africa's special economic zones for joint ventures.
The two nations agreed to develop partnerships in maritime and air transport to facilitate the movement of goods and services between them.
Following the session, both sides reaffirmed their commitment to strengthening bilateral ties and expressed eagerness to expand cooperation across various sectors aimed at ensuring sustainable growth.
The 11th session of the Joint Committee is set to take place in South Africa, with plans to build on current discussions and implement agreements for future collaboration.
The committee has also reinforced efforts to boost collaboration in agriculture, healthcare, knowledge transfer in areas such as environment and logistics, according to the Saudi Press Agency (SPA).
The two countries have been bolstering their economic relationship over recent years.
In July, non-oil exports from Saudi Arabia to South Africa amounted to SR193.8 million ($51.65 million), while total non-oil trade between them stood at approximately SR5.7 billion in 2024, indicating growing bilateral engagement.
Citing Bandar Alkhorayef, the Minister of Industry and Mineral Resources in Saudi Arabia, the SPA report emphasized the call for 'building broader partnerships [with South Africa] that include knowledge transfer, skills development, and technical innovation, based on the Kingdom's Vision 2030 programs.' Alkhorayef also highlighted deep ties between Riyadh and Pretoria and urged both nations to capitalize on available opportunities to strengthen their economic partnership.
South Africa's Minister of Trade, Industry and Competition, Parkus Tau, described the Joint Committee session as a 'crucial milestone' in enhancing strategic relations between Riyadh and Pretoria.
Both countries share a commitment to advancing common interests and cooperation, he said.
Tau pointed out opportunities in South Africa’s automotive and iron sectors that require investment and technical partnerships, along with mining initiatives focused on exploration and critical minerals.
He also mentioned the attractiveness of South Africa's special economic zones for joint ventures.
The two nations agreed to develop partnerships in maritime and air transport to facilitate the movement of goods and services between them.
Following the session, both sides reaffirmed their commitment to strengthening bilateral ties and expressed eagerness to expand cooperation across various sectors aimed at ensuring sustainable growth.
The 11th session of the Joint Committee is set to take place in South Africa, with plans to build on current discussions and implement agreements for future collaboration.
