Seven Sectors for Promotion of Economic Integration Between the Kingdom and South Africa 2 Riyadh

  • 2/25/2023
  • 21:35
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Traditional Energy Sector: Benefit to the Kingdom: The Kingdom could invest in oil refineries in South Africa and guarantee oil supplies to it. Benefit to South Africa: South Africa suffers from a major crisis in power generation sector and the weakness of investment in the energy sector in general. Developments during the visit: Energy sector was mentioned as one of the areas of cooperation at the press conference between the Foreign Minister and his counterpart of South Africa. Minister of Health, also talked about investment in the oil field and investment opportunities in the refining sector with Her Excellency the Foreign Minister of South Africa. Renewable Energy Sector: Benefit to the Kingdom: The Kingdom seeks to develop the renewable energy sector locally and achieve that by access to potential markets in the future as well as to find strategic partners. Benefit to South Africa: Entering into a partnership with the Kingdom to develop the two countries’ capabilities for the production of renewable energy panels and other types of renewable energy so as to increase the South African industrial capacity and contributes to reducing energy and electricity generation crises in this country. Developments during the visit: Renewable Energy Sector was mentioned as one of the areas of cooperation at the press conference held between the Foreign Minister and his South Africa counterpart. Petrochemical Sector: Benefit to the Kingdom: The Kingdom is considered as one of the leading countries in the field of petrochemicals and it might benefit from the expansion and investment in South Africa and increase its export-oriented petrochemicals market share. Benefit to South Africa: The petrochemical sector, particularly the basic materials, is considered as one of the sectors that South Africa hopes to attract investment and technology to it. So, South Africa can benefit from the investment and experience of the Saudi companies in this field. Developments during the visit: Saudi Petrochemical Sector was mentioned as one of the areas of cooperation at the press conference held between the Foreign Minister and his South African counterpart. Health Sector: Minister of Health and Minister of Foreign Minister of South Africa held talks about the cooperation between the two countries to conduct joint medical research, training, and scholarship. --More 17:18 LOCAL TIME 14:18 GMT www.spa.gov.sa/w

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