Riyadh Hosts Tenth Session Of Saudi-South African Joint Committee To Enhance Strategic Partnership

Riyadh is set to host the 10th Saudi-South African Joint Committee session, marking a significant step in the strategic partnership between the two nations. The meeting aims to boost collaboration in various sectors, including trade, energy, industry, and mining. This aligns with Saudi Arabia's Vision 2030 goals of economic diversification and sustainable development.

The Saudi delegation will be led by Minister of Industry and Mineral Resources Bandar Alkhorayef. Meanwhile, South Africa's delegation will be headed by Minister of Trade, Industry and Competition Parks Tau. Senior representatives from both governments will participate to explore new business opportunities under the General Agreement of Cooperation signed in 1999.

The committee will focus on enhancing cooperation across multiple sectors such as infrastructure, agriculture, education, culture, and social development. This initiative is expected to advance sustainable development and deepen bilateral relations by identifying new collaboration paths that contribute to both nations' economic growth.

Saudi Arabia's delegation includes officials from various ministries like foreign affairs, interior, energy, investment, culture, sport, justice, health, human resources and social development. National institutions such as the Technical and Vocational Training Corporation and the Economic Cities and Special Zones Authority will also participate.

The South African delegation comprises officials from ministries including trade, industry and competition; electricity and energy; mineral and petroleum resources; agriculture; transport; social development; higher education and training; science, technology and innovation; and interior affairs. The Bureau of Standards will also be involved.

This participation underscores South Africa’s commitment to expanding cooperation with Saudi Arabia across various sectors. The Saudi-South African Business Council will convene alongside the committee to facilitate direct communication between investors and highlight economic opportunities in both countries.

Investment Highlights

Relations between Saudi Arabia and South Africa have grown rapidly through strategic investments. Notable Saudi investments include ACWA Power’s Bokpoort Concentrated Solar Power plant in South Africa. SABIC maintains a strong presence with facilities in Durban and Cape Town.

In 2023, SABIC Agri-Nutrients acquired a 70% stake in ETG Inputs Holdco Limited. This move strengthened cooperation in agriculture and food security. South African investments in Saudi Arabia include Sasol’s partnership with SABIC in the Jubail Chemical Complex.

Trade Relations

Trade between the two countries remains robust. In 2024, Saudi non-oil exports to South Africa reached $613 million while South African exports to Saudi Arabia totaled $901 million. This trade relationship offers opportunities for further expansion in non-oil sectors.

The session reaffirms the depth of Saudi-South African relations. It aligns with Vision 2030 objectives of economic diversification, sustainable development, and international cooperation. Both sides aim to implement their strategic partnership effectively during this meeting.

With inputs from SPA