President Ramaphosa Announces That South Africa and Saudi Arabia Signed 17 Memoranda of Understanding

• President Cyril Ramaphosa is in Jeddah for the South Africa-Saudi Arabia Investment Forum, has shared some great news
• Ramaphosa said the two nations signed 17 memoranda of understanding in various sectors
• He said the memoranda of understanding will pave the way for the much-needed cooperation for high trade and investment flows between the two nations

President Cyril Ramaphosa, who was on a state visit to Jeddah in Saudi Arabia, returned with gifts.

The statesman announced that the two countries have signed 17 memoranda of understanding which will serve as door openers for high trade and investment between South Africa and Saudi Arabia.

According to TimesLIVE, President Ramaphosa made these sentiments during his closing speech at the South Africa-Saudi Arabia Investment Forum. The 17 memoranda of understanding will touch various sectors, including mining, renewable energy, security, transport, and agri-aquaculture. He said:

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"Seventeen MoUs for us as South Africa being signed and exchanged at the same time is a record and true demonstration of the depth of the relationship between the two countries and the great ambitions that we all have."

He told the South African and Saudi Arabia business community members attending the round-table session that the memoranda of understanding are like door openers for high trade and investment flows between the two nations.

President Ramaphosa was accompanied by top government officials, among them ministers Naledi Pandor, Gwede Mantashe, Thandi Modise, Thoko Didiza, Fikile Mbalula, and Ebrahim Patel.

SA reacts to Ramaphosa’s plan for Saudi Arabia to invest in different sectors of the country: “More debt”

In more news, Briefly News previously reported that President Cyril Ramaphosa is on a state visit to Saudi Arabia and hopes the visit will benefit South Africa financially. On Saturday, he will meet with Prime Minister Mohammed bin Salman Al Saud and the King of Saudi Arabia, Salman bin Abdulaziz Al Saud.

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Ramaphosa landed in Saudi Arabia on Friday night at the King Abdulaziz International Airport, and the governor was there to welcome him.

The president wants to strengthen economic ties between the two countries and hopes that Saudi Arabia will invest in the infrastructure and mining sector.

Source: Briefly News