The Ambassador of South Africa to Saudi Arabia Mr Sadiq Jaffer says economic diplomacy is key for trade and investment in South Africa as it will assist to improve the country’s export commodities versus high mineral products imported from Saudi Arabia. Ambassador Jaffer was speaking at a business seminar at the premises of the Riyadh Chamber of Commerce in Saudi Arabia yesterday.
The seminar was organised by the South African Embassy for the South African business delegates and their counterparts in Saudi Arabia. A group of South African businesspeople has been in Saudi Arabia on an outward selling mission since Monday.
“Economic diplomacy links both countries and expands potential benefits for business opportunities in Africa and the rest of the Middle East. This mission forms part of the South African government’s commitment to explore opportunities in these untapped markets,” said Jaffer.
He added that it was important to educate business people from both countries on business opportunities that exist in Saudi Arabia and South Africa for mutual economic benefit.
“There is a need to increase exports from South Africa to Saudi Arabia from 10% that we are currently at, to a noticeable number that can put both countries on an equal footing in terms of trade,” added Jaffer.
The Outward Selling Mission which is currently taking part in Saudi Arabia will conclude on 14 February 2012.