He says the five billion US Dollars worth of investment between the two countries could be increased if the bilateral agreements signed in Jeddah are implemented with speed.
Ramaphosa is leading a delegation of ministers and more than 100 businessmen and women who seek to further improve trade relations with Saudi Arabia.
The president is spending the weekend in Saudi Arabia, a second visit to the Kingdom. He addressed business and the Saudi government in Jeddah, this afternoon.
“South Africa stands particularly ready to increase the overall export of a bucket of goods with Saudi Arabia to bring together a balance to the trade account. The current flows of investment between our two countries are very promising indeed. One such company and its Aquapower from Saudi Arabia is active in the renewable energy space in country, one of the catalystic sectors of South Africa.”
President Cyril Ramaphosa arrives in Saudi Arabia on a state visit:
Meanwhile, the Minister of Investment in the Kingdom of Saudi Arabia, Khalid AL Falih has expressed appreciation to the government of South Africa for further showing interest in enhancing trade relations between the two countries.
Falih says as the two countries continue to sign bilateral agreements, interactive trading will be a common activity in the future.
He was addressing business leaders from both South Africa and Saudi Arabia, including President Ramaphosa.
“There has been a lot of partnerships and relations between the business sector of both sides that have been unveiled over time, especially I’d like to say for the last few weeks and we emerge post COVID-19 and join the momentum in perusing our respective strategies and programmes.”
President Cyril Ramaphosa arrives in Saudi Arabia on a state visit:
