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Administration news

SA, Saudi forge stronger trade links

13 Feb 2013 07:50
The Department of Trade and Industry will lead a 14-member business delegation on an Outward Selling Mission to Riyadh, Saudi Arabia, from today to Thursday, 14 February.
(Image: GCIS)
(Image: GCIS)
The purpose of the mission is to strengthen trade relations between the two countries and position South Africa as a supplier of choice in Saudi Arabia.

Trade and Industry Minister Dr Rob Davies said the mission was a follow-up on the Joint Economic Commission (JEC) held last year in Saudi Arabia, which provided a platform to expose South African companies to the Saudi Arabian market, and deepening bilateral trade and investment relations.

"A commitment was made during the JEC to ministers that South Africa would follow up with a sector specific mission targeting agro-processing, engineering services, mining and capital equipment, electro-technical, energy, oil and gas," said Davies.

The intensive programme includes a business forum, targeted business-to-business meetings and site visits.

The importance of this trade mission is underscored by the fact that Saudi Arabia is South Africa's largest trading partner and second largest export destination in the Gulf region.

Efforts to increase trade are beginning to show results, with South Africa's exports growing by 5% over the last four years.


SOURCE

SAnews.gov.za
SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.
Go to: http://www.sanews.gov.za
    
 
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Read more: Saudi Arabia, dti

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