Saudi Arabia, South Africa conclude Ramaphosa’s visit with agreements worth $15 bln

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Saudi Arabia, South Africa conclude Ramaphosa’s visit with agreements worth $15 bln

7:59 CAT | 17 Oct 2022

Saudi Arabia’s Crown Prince Mohammed bin Salman received South African President Cyril Ramaphosa in Jeddah, Saudi Arabia. [Photo: SPA]

Saudi Arabia and South Africa concluded President Cyril Ramaphosa’s visit to the Kingdom on Monday with agreements worth $15 billion, according to a joint statement carried by the official Saudi Press Agency.

The two nations signed 11 agreements and Memoranda of Understanding to boost investment in energy, water, green hydrogen, waste diversion, and logistics at the Saudi-South African Investment Forum in Jeddah on Saturday.

The Forum, organized by Saudi Arabia’s Ministry of Investment, was attended by Ramaphosa and several senior officials from both countries, aiming to sign agreements to promote the developing investment sectors between the two countries.

Saudi Arabia’s Crown Prince Mohammed bin Salman received the South African president at the al-Salam Palace in Jeddah where an official reception was held. The leaders discussed bilateral relations, issues of common interest and reviewed various areas of cooperation between their countries.

The Crown Prince and Ramaphosa also witnessed a ceremony where several agreements were signed in the fields of media cooperation, investment, communications and information technology, agriculture, aquaculture, social development, health, trade, military cooperation, and mineral technology.

The leaders praised the efforts of the Saudi-South African Joint Committee to enhance cooperation between the two countries in several sectors, aligning with their aspirations and in line with the Kingdom’s Vision 2030 – a transformative economic and social reform blueprint launched and initiated by Crown Prince in 2016.

The State Visit to Saudi Arabia was about advancing diplomatic and political relations between our two countries, but it is the economic relations that underpinned the substance of our visit.#SAinSaudiArabia pic.twitter.com/zuVPODGy1c

— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) October 16, 2022