A new economic partnership between South Africa and Saudi Arabia
12 June 2012
South Africa and Saudi Arabia have entered into a new strategic economic partnership potentially worth billions of Rands.
Trade and Industry Minister Rob Davies said in Cape Town it will potentially create business opportunities worth R20 billion.
Targeted areas are mining, petrochemicals and agriculture.
The new Saudi Arabia link is seen as important as trade and investment with most of South Africa’s traditional partners, such as Europe, are either declining or stagnant.