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SA, Saudi Arabia sign 17 Memorandums of Understanding for stronger economic relations

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South Africa and Saudi Arabia have signed 17 Memorandums of Understanding that will facilitate stronger economic relations between the two countries.

President Cyril Ramaphosa says the agreements range from renewable energy, mining, agriculture, transport and security.

He is in the kingdom with a delegation of business people and ministers on an investment drive.

The ministers include Naledi Pandor for International Relations, Ebrahim Patel for Trade, Industry and Competiton, Gwede Mantashe for Mineral Resources and Energy as well as Fikile Mbalula for Transport.

Ramaphosa was speaking after visiting several industries in Jeddah:

“These Memorandum of Understanding are what I call door openers, they pave a way for much greater corporation and for higher trade and investment flows between South Africa and Saudi Arabia. We were able to recall what agreement we’ve reached in 2018 that there would be up to $10 billionย  flow of investment,” says Ramaphosa.

President Cyril Ramaphosa arrives in Saudi Arabia on a state visit:

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