- His meetings with HRH Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz al Saud on 15-16 October 2022 offered an opportunity to continue the previous discussions on investment and collaboration in identified priority sectors, including agriculture, defense, energy, and transport, with the Kingdom.
President Cyril Ramaphosa concluded his State Visit to the Kingdom of Saudi Arabia on 16 October 2022, consolidating a strategic partnership with Saudi Arabia. His meetings with HRH Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz al Saud on 15-16 October 2022 offered an opportunity to continue the previous discussions on investment and collaboration in identified priority sectors, including agriculture, defence, energy, and transport, with the Kingdom. About 17 Memoranda of Understanding (MoUs) were signed.
The Mou’s signed included technical cooperation in agriculture, fisheries, and aquaculture; in the study of the establishment of a Saudi-South Africa Joint Investment Fund and cooperation in the promotion of direct investment. MOUs were also signed on the establishment of a Joint business council, cooperation in the field of military industries and procurements, and geological survey cooperation. Additionally, it was agreed to cooperate in the fields of arts and culture, health, social development, mutual recognition of certificates of seafarers, ICT, and cooperation between the economic cities and special zones authorities in the Kingdom and in South Africa.
During his visit, he also inaugurated the Lulu Hypermarket South Africa Fest where over 500 South African products were on display demonstrating the improving trade relations between South Africa and Saudi Arabia.
Also read;
https://trendsnafrica.com/south-africa-increases-repo-rate-to-contain-creeping-inflation/
