President says Saudi Arabia has expressed an interest in joining the Brics bloc
16 October 2022 - 10:58
UPDATED 16 October 2022 - 23:03
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
SA and Saudi Arabia have signed 17 memorandums of understanding. Picture: GCIS
SA and Saudi Arabia have signed 17 memoranda of understanding (MOUs) relating to mining, renewable energy, security, transport, agri-aquaculture and other sectors, President Cyril Ramaphosa said on Sunday.
“Seventeen MOUs for us as South Africa being signed and exchanged at the same time is a record and true demonstration of the depth of the relationship between the two countries and the great ambitions that we all have,” said Ramaphosa.
He was participating in a round-table session between the SA and Saudi Arabian business communities.
He told the media later on Sunday that Saudi Arabia had expressed an interest in joining the Brics bloc. “The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of Brics and they are not the only country.”
On Saturday, he delivered the closing remarks at the SA-Saudi Arabia Investment Forum in Jeddah.
Ramaphosa, who is on a two-day state visit to the country, is accompanied by a high-level business delegation including Solidarity Fund head Gloria Serobe and Aspen’s Stavros Nicolaou, as well as ministers Naledi Pandor, Gwede Mantashe, Thandi Modise, Thoko Didiza, Fikile Mbalula, Ebrahim Patel and his advisers.
He said: “These memoranda of understanding are what I call door-openers. They pave the way for much greater co-operation for high trade and investment flows between South Africa and Saudi Arabia.
“Yesterday we heard about the enormous trade and investment opportunities in South Africa across a range of sectors.
“Last night we had the summit with his royal highness and his ministers as well as ministers from my side where we were able to exchange a number of interesting views as well as to exchange the MoUs that were signed between the two countries.”
Ramaphosa said he expected business leaders from Saudi Arabia to be frank about their expectations and what would enable them to do business in SA.
“From our side, you will tell us where do you see the greatest potential for partnership with Saudi businesses, what is needed and what are the enabling conditions for increased exports to Saudi Arabia and for two-way investment,” he said.
Update: October 16 2022 This story has been updated with new information.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
SA signs 17 MOUs with Saudi Arabia
President says Saudi Arabia has expressed an interest in joining the Brics bloc
SA and Saudi Arabia have signed 17 memoranda of understanding (MOUs) relating to mining, renewable energy, security, transport, agri-aquaculture and other sectors, President Cyril Ramaphosa said on Sunday.
“Seventeen MOUs for us as South Africa being signed and exchanged at the same time is a record and true demonstration of the depth of the relationship between the two countries and the great ambitions that we all have,” said Ramaphosa.
He was participating in a round-table session between the SA and Saudi Arabian business communities.
He told the media later on Sunday that Saudi Arabia had expressed an interest in joining the Brics bloc. “The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of Brics and they are not the only country.”
On Saturday, he delivered the closing remarks at the SA-Saudi Arabia Investment Forum in Jeddah.
Ramaphosa, who is on a two-day state visit to the country, is accompanied by a high-level business delegation including Solidarity Fund head Gloria Serobe and Aspen’s Stavros Nicolaou, as well as ministers Naledi Pandor, Gwede Mantashe, Thandi Modise, Thoko Didiza, Fikile Mbalula, Ebrahim Patel and his advisers.
He said: “These memoranda of understanding are what I call door-openers. They pave the way for much greater co-operation for high trade and investment flows between South Africa and Saudi Arabia.
“Yesterday we heard about the enormous trade and investment opportunities in South Africa across a range of sectors.
“Last night we had the summit with his royal highness and his ministers as well as ministers from my side where we were able to exchange a number of interesting views as well as to exchange the MoUs that were signed between the two countries.”
Ramaphosa said he expected business leaders from Saudi Arabia to be frank about their expectations and what would enable them to do business in SA.
“From our side, you will tell us where do you see the greatest potential for partnership with Saudi businesses, what is needed and what are the enabling conditions for increased exports to Saudi Arabia and for two-way investment,” he said.
Update: October 16 2022
This story has been updated with new information.
TimesLIVE
Ramaphosa hopes Saudi Arabia state visit will encourage investment, strengthen economic ties
AYABONGA CAWE: Reducing world inequality — the most troubling question of our time
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.