Saudi Arabia, South Africa sign 11 agreements on energy, water, green hydrogen

The Saudi South African Investment Meeting

Saudi Arabia signed 11 agreements between the government and private sectors in various fields, the Saudi South African Investment Meeting said today, Oct. 15.

The trade exchange volume between the two countries exceeded $5 billion in 2022.

The agreements included a memorandum of understanding (MoU) in the public and private sectors on energy, water, green hydrogen, waste conversion, logistics services and aerial survey services.

They also aim to strengthen developing investments between Saudi Arabia and South Africa on one hand, and the Middle East and South Africa on the other.

Minister of Investment Khalid Al-Falih affirmed that Saudi Arabia and South Africa share many great economic potentials. The Kingdom is the biggest economy in the Middle East and the Arab World, while South Africa is the second largest and most diversified economy in Africa.