SA, Saudis to co-operate in food, resources

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SA, Saudis to co-operate in food, resources

South Africa and Saudi Arabia had agreed to finalise negotiations on a proposed agreement on co-operation in the fields of agriculture, livestock and fisheries, Trade and Industry Minister Rob Davies said yesterday. They also resolved to promote and develop aspects of co-operation in the fields of oil, gas and minerals through participation in conferences and specialised seminars. “This will be achieved through the exchange of meetings between oil and mining companies in both countries and holding bilateral meetings to discuss joint investment opportunities and possible areas of co-operation,” Davies said following the 5th session of the South Africa-Saudi Arabia Joint Economic Commission held last week in Pretoria. Total trade between South Africa and Saudi Arabia has more than doubled in five years, reaching R80.1 billion last year from R29.7bn in 2009. Saudi Arabia overtook Germany in January to become South Africa’s second-largest source of imports, with China the biggest. – Staff Reporter

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