RIYADH: Saudi Arabia and South Africa agreed to expand cooperation in trade, investment, energy, mining and infrastructure, deepening economic ties during the 10th session of their Joint Committee in Riyadh.
The committee also reinforced efforts to enhance collaboration in agriculture, healthcare, and knowledge transfer in sectors such as environment and logistics, the Saudi Press Agency reported.
The two countries have been strengthening their economic relationship in recent years. In July, Saudi Arabia’s non-oil exports to South Africa reached SR193.8 million ($51.65 million), while total non-oil trade between them stood at about SR5.7 billion in 2024, highlighting growing bilateral engagement.
Citing Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, the SPA report stated that he called for “building broader partnerships [with South Africa] that include knowledge transfer, skills development, and technical innovation, based on the Kingdom’s Vision 2030 programs.”
He also emphasized the deep ties between the Kingdom and South Africa, urging both nations to capitalize on available opportunities to strengthen the economic partnership.
Parkus Tau, South Africa’s Minister of Trade, Industry and Competition, described the Joint Committee as a “crucial milestone” in deepening strategic relations between Riyadh and Pretoria, reflecting both countries’ shared commitment to advancing common interests and cooperation.
Tau highlighted opportunities in South Africa’s automotive and iron sectors that require investment and technical partnerships, as well as mining initiatives focused on exploration and critical minerals. He added that South Africa’s special economic zones offer attractive platforms for joint ventures.
Both nations also agreed to develop partnerships in maritime and air transport to facilitate the movement of goods and services between them.
At the conclusion of the session, the two sides reaffirmed their commitment to strengthening bilateral ties and expressed their eagerness to expand cooperation across economic, developmental, and social sectors to ensure sustainable growth.
The committee also announced that the 11th session will be hosted in South Africa, with plans to build on the current discussions and ensure implementation of agreements aimed at enhancing future collaboration.
