By: Economy middle east

Saudi Arabia and South Africa recently concluded the 10th session of the Saudi-South African Joint Committee in Riyadh, which was co-chaired by Minister of Industry and Mineral Resources Bandar Alkhorayef and South Africa Minister of Trade, Industry and Competition Parks Tau, with the participation of official delegations from both countries.

In his opening address, Alkhorayef called for wider partnerships that include the transfer of knowledge, skill development and technological innovation, in line with the programs of Saudi Vision 2030. Meanwhile, Minister Tau affirmed that the session represents a pivotal moment for deepening the strategic partnership between the two countries. He stated that it reflects both countries’ commitment to enhancing mutual interests and launching into new areas of cooperation.

Saudi Arabia and South Africa seek stronger ties in key sectors

At the conclusion of the meetings, both delegations affirmed the strength of bilateral relations between Saudi Arabia and South Africa. They expressed their commitment to expanding cooperation in various economic, developmental and social sectors to serve mutual interests and advance sustainable development. They also stressed the importance of continued communication between the government and private sectors in both countries to open new avenues for investment and trade, in addition to strengthening cultural and educational partnerships.

The session featured mutual presentations on investment opportunities. The “Invest Saudi” initiative showcased key incentives available to South African investors, while the “InvestSA” initiative highlighted promising sectors for Saudi investors, including mining, agriculture, and energy. The initiatives aim to stimulate mutual investments and enhance economic integration.

Two sides agree to launch initiatives in various sectors

The two sides agreed to launch initiatives in the sectors of trade, investment, energy, mining, and infrastructure. They agreed to enhance agricultural and health cooperation, exchange expertise in the fields of environment and logistics, and develop partnerships in maritime and air transport to increase the movement of goods and services between the two countries.

The session’s agenda also included enhancing cooperation in science, technology, sports and culture, in addition to technical and vocational training programs and expanding scholarships.

The Saudi delegation included representatives from a wide range of government ministries and national entities. The South African side was represented by senior officials from various government ministries and authorities, including those related to trade, energy, and social development.

The session concluded with the signing of the minutes of the 10th session of the Joint Committee, which included all the proposed initiatives and agreements. The two delegations agreed to hold the 11th session in the Republic of South Africa, affirming the importance of building on the outcomes of this session and following up on the implementation of the agreements to enhance cooperation in the coming years.

Kingdom seeks trade agreement with South Africa

On the sidelines of the 10th session of the Saudi-South African Joint Committee, Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef held a meeting in Riyadh with Minister of Trade, Industry and Competition of the Republic of South Africa Parks Tau.

Alkhorayef welcomed the South African delegation and underscored the deep ties between Saudi Arabia and South Africa, stressing the need to capitalize on available opportunities to strengthen the economic partnership. He noted the continued growth in trade between the two countries and suggested studying the conclusion of a trade agreement to expand cooperation.

He also emphasized the importance of limiting the committee’s outputs to an agreed list of tasks to be regularly followed up, while also pointing to investment opportunities in the Kingdom, particularly in the automotive sector and its value chains, as well as in the mining and iron sectors.

For his part, Minister Tau outlined key opportunities in his country, particularly in the automotive and iron sectors, which require investment and technical partnerships, in addition to mining, including exploration and critical minerals. He noted that South Africa’s special economic zones can serve as attractive platforms for joint investments.

Economic relations between Saudi Arabia and South Africa have witnessed notable development in recent years, reflected in strategic investments and growing trade flows, including major projects in renewable energy, petrochemicals and agricultural industries. The total non-oil trade between the two countries reached about SAR5.7 billion in 2024, paving the way for broader diversification of future partnerships.