In an effort to expand South Africa’s economy, South Africa President Jacob Zuma had flown to Saudi Arabia during his state visit and had gone to the South Africa- Saudi Arabian Business Seminar in Riyadh, Saudi Arabia’s capital. The President intends to tighten the cooperation between South Africa and Saudi Arabia. He believes that South Africa has competitive offerings for the Muslim kingdom.
According to the South African President:
“The next important step is to enhance bilateral trade‚ investment flows‚ the identification of targeted areas of collaboration and to address impediments in this respect as well as the implementation of a mutually agreed upon framework to enhance economic‚ trade and investment cooperation‚” he said.
“This includes collaboration in skills and technology transfers‚ the strengthening of trade institutions and optimal cooperation between the governments and private sectors of our two countries.”
The President highlights agricultural products, food processing equipment, natural goods from agricultural produce, mining management, mining equipment and technologies, minerals mapping and benefication.
He also highlighted South Africa’s medical and pharmaceuticals sector, clothing, textiles and leather industries, advanced manufacturing equipment, forestry, pulp and paper and furniture.
Saudi Arabia, which has diverse partnerships with the United States and Europe, may find prices in South Africa to its liking. South Africa can benefit from immense business deals, which can help save and uplift its diminishing economy.