Saudi Arabia and South Africa has signed agreements and memorandums of understanding worth about $15 billion during a state visit by South Africa’s president to Riyadh, Saudi state news agency SPA reported on Monday.
There were no immediate details about the signed deals.
Both countries agreed to explore investment sectors and opportunities in areas of common interest, especially renewable energy, industry, mining, tourism, logistics and agriculture.
Welcoming the signings, Saudi Arabia’s Crown Prince Mohammed bin Salman and South Africa’s President Cyril Ramaphosa stressed the importance of strengthening joint cooperation and bilateral ties, according to the joint statement.
The two sides highlighted the positive outcomes that were achieved since the South African’s visit to the Kingdom in 2018, which allowed for the expansion of cooperation between the two countries in various fields, according to SPA.
During their meeting, the two leaders discussed areas of economic and trade cooperation and stressed the importance of strengthening their economic partnership.
They also emphasized their commitment to continue working to enable partnerships between the private sectors in Saudi Arabia and South Africa and encourage mutual investments, SPA reported.
The leaders also praised the efforts of the Saudi-South African Joint Committee in enhancing cooperation between the two countries, especially in the economic sectors – aligning with both the Kingdom’s Vision 2030 plan and South Africa’s National Development Plan 2030.
The two sides also highlighted the positive outcomes that were achieved since the South African president’s visit to the Kingdom in 2018, which allowed for the expansion of cooperation between the two countries in various fields, according to SPA.
Agencies
