South African President Ramaphosa ended his two-day state visit to Saudi Arabia on Sunday after signing 17 memoranda of understanding (MOUs) worth some US$15 billion in investments.
The MOUs are for cooperation in the mining, renewable energy, security, transport, aquaculture and other sectors, Ramaphosa said.
“These memoranda of understanding are what I call door-openers. They pave the way for much greater cooperation for high trade and investment flows between South Africa and Saudi Arabia,” he said.
He said the signing of the MOUs was “a record and true demonstration of the depth of the relationship between the two countries and the great ambitions that we all have.”
He said he expected business leaders from Saudi Arabia to be frank about their expectations of what would enable them to do business in South Africa.
NM/jn/APA