Pretoria – President Cyril Ramaphosa says his state visit to the Kingdom of Saudi Arabia, which was concluded on Sunday, was a successful tour which cemented South Africa’s continued bilateral co-operation and consolidation of strategic partnership with the nation on the Arabian Peninsula.
“We brought with us more 100 business people (to Saudi Arabia). The good thing is that this visit has been more focused on the economy, as well as advancing our diplomatic as well as political relations with Saudi Arabia, but the economic side, and the business side have really underpinned the real substance of the visit,” Ramaphosa said in a video from Saudi Arabia.
“We had extensive discussions with His Royal Highness the Crown Prince … and we had a very good summit which involved all our ministers. We covered a great deal of ground. The fact that we signed up to 17 MoUs (Memoranda of Understanding) is testifies to the real great success that we have achieved here.”
Ramaphosa visited the Kingdom at the invitation of King Salman bin Abdulaziz al-Saud, and was hosted in Jeddah by Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz al-Saud on Saturday and Sunday.
The Presidency in Pretoria said Ramaphosa had set a clear agenda of further developing economic ties with the Kingdom of Saudi Arabia and the visit afforded him an opportunity to advance previous discussions on investment and collaboration in identified priority sectors, notably agriculture, defence, energy, and transport, with the Kingdom.
“Having started in 2018 with a commitment by Saudi Arabia to invest $10 billion into the South African economy, in many ways was planting the seed and that seed has been germinating and thus far $1bn dollars has been invested in South Africa through a company called Acwa Power and Renewable Energy,” said Ramaphosa.
“We are now going to be seeing more of those billions that the Kingdom of Saudi Arabia is very keen to invest in South Africa beginning to flow, underpinned by these 17 MoUs that we have signed. Of course, between 2018 and 2019, Covid intervened and stalled everything. We are now going to be seen everything gathering pace and momentum.
“They are very serious business people. Both private sector-owned businesses as well as public sector-owned businesses are very serious. They are action oriented, outcomes-oriented; they want to see implementation.”
The two nations signed memoranda of understanding in several fields at a welcome ceremony held at the Saudi Arabia Royal Court in Jeddah.
Ramaphosa and Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz al-Saud witnessed the exchange of MoUs between ministers representing both countries.
Several South African companies are already doing business in Saudi Arabia and there are a number of South Africans working in the Kingdom.
“Already, a number of our goods and products are beginning to proliferate here in this market,” said Ramaphosa.
The Presidency said the MoUs signed were in the fields of technical co-operation in agriculture, fisheries and aquaculture; in the study of the establishment of a Saudi-South Africa Joint Investment Fund and co-operation in the promotion of direct investment.
Other memoranda of understanding were signed on the establishment of a joint business council, co-operation in the field of military industries and procurements, and geological survey co-operation.
The heads of state also witnessed the exchange of MoUs in the fields of arts and culture; health; social development; mutual recognition of certificates of seafarers; in information, communication and technology including co-operation between the economic cities and special zones authorities in the Kingdom and in South Africa.
Presidency spokesperson Vincent Magwenya said while in Saudi Arabia, Ramaphosa participated in and addressed the Saudi Arabia – South Africa Investment Forum.
“In this regard, the president utilised the opportunity to invite Saudi Arabia businesses to the South Africa’s fifth investment conference he will be convening in 2023. President Ramaphosa also led a South Africa investment round-table discussion with key captains of industry from both countries,” said Mangwenya.
“President Ramaphosa concluded his visit by officially opening the Lulu Hypermarket South Africa Fest where over 500 South Africa products were on display demonstrating the improving trade relations between South Africa and Saudi Arabia.”
Ramaphosa was accompanied on the Saudi Arabian tour by ministers Naledi Pandor, of International Relations and Co-operation; Thoko Didiza, of Agriculture, Rural Development and Land Reform; Ebrahim Patel, of Trade, Industry and Competition; Gwede Mantashe, of Mineral Resources and Energy; Fikile Mbalula, of Transport; and Thandi Modise, of Defence and Military Veterans.
IOL