Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, has discussed strengthening economic cooperation with Parks Tau, Minister of Trade, Industry, and Competition of the Republic of South Africa.
The meeting took place on the sidelines of the 10th session of the Saudi-South African Joint Committee, with broad participation from government representatives of both countries, and focused on enhancing economic and investment cooperation.
Alkhorayef welcomed the South African delegation and underscored the deep ties between the Kingdom and South Africa, stressing the need to capitalize on available opportunities to strengthen the economic partnership.
Bandar Alkhorayef Minister of Industry & Mineral Resources Saudi Arabia
“The continued growth in trade between the two countries and suggested studying the conclusion of a trade agreement to expand cooperation. He emphasized the importance of limiting the committee’s outputs to an agreed list of tasks to be regularly followed up, while also pointing to investment opportunities in the Kingdom, particularly in the automotive sector and its value chains, as well as in the mining and iron sectors.”
For his part, Minister Tau thanked the Kingdom for its hospitality and outlined key opportunities in his country, particularly in the automotive and iron sectors, which require investment and technical partnerships, in addition to mining, including exploration and critical minerals. He noted that South Africa’s special economic zones can serve as attractive platforms for joint investments.
The meeting reflects the shared keenness to strengthen the strategic partnership between the Kingdom and the Republic of South Africa, building on existing cooperation in vital sectors to open broader prospects for economic growth and sustainable development in both countries.
Saudi Arabia-South Africa Relations
Economic relations between the Kingdom and South Africa have witnessed notable development in recent years, reflected in strategic investments and growing trade flows, including major projects in renewable energy, petrochemicals, and agricultural industries. The total non-oil trade between the two countries reached about $1.5 billion (SAR5.7 billion) in 2024, paving the way for broader diversification of future partnerships.
