Ramaphosa on Saudi agreements: ‘We are going to be almost on speed dial if we find slowness in implementation’

President Cyril Ramaphosa has concluded his “phenomenally successful” two-day state visit to Saudi Arabia.

Speaking to the media in Jeddah on Sunday, Ramaphosa said, “We are very happy, we go home not empty-handed. The future looks bright for South Africa and its partnership with Saudi Arabia in all areas.”

On Saturday Ramaphosa delivered closing remarks at the SA-Saudi Arabia Investment Forum and in the evening, he met with Crown Prince and prime minister Mohammad bin Salman bin Abdulaziz al Saud at the Royal Court of Saudi Arabia.

On Sunday the president participated in an intimate round-table session between SA and Saudi Arabia business communities.

Ramaphosa brought a delegation of 100 business leaders, ministers Naledi Pandor, Gwede Mantashe, Thandi Modise, Thoko Didiza, Fikile Mbalula, Ebrahim Patel, Gwede Mantashe and his advisers.

“This visit has been focused on the economy as well as advancing our diplomatic and political relations with Saudi Arabia,” he told reporters.

He said that 17 memoranda of understanding were signed, testified to the “great success” achieved.

“Having started in 2018 with a commitment by Saudi Arabia to invest $10bn (R184bn) in the SA economy, that in many ways was planting the seed and so far $1bn (R18.4bn) has been invested in SA.”

He added that the Saudi business community was “outcomes orientated and want to see implementation, and the Crown Prince and myself have committed to be monitoring the implementation.”

Ramaphosa said he wants the agreements to be implemented immediately because the Saudi’s “move fast.”

“We are going to be almost on speed dial if we find that there is slowness in implementation and there are going to be meetings taking place in the next three months or so to see the extent of how this is going to be implemented.”

Ramaphosa said SA is in a hurry because of the undesirable unemployment rate.

“We need to ensure whatever economic opportunity we get, we grasp with both hands”

On the ease of doing business, Ramaphosa said the Saudi’s found SA’s port system is too slow and bureaucratic.

“They would like to see our ports system improving and so we took that to heart and I told them to be transparent and open with us so that we can improve.”

Trade and industry minister Ebrahim Patel said the different agreements signed relate to various aspects of the economy.

“There were two MOU’s on investment. We have set up a joint investment team that will look at how to share information on opportunities, discuss some of the regulatory issues that will need to be complied with and how we can work closely together to unblock that.”

Patel said the second agreement identified some 20 sectors that will be looked at to unlock more investment and the government is exploring the idea of establishing a joint fund.

“Those funds will bankroll and support investments in SA and potentially Saudi Arabia but also in developing countries in Africa for joint opportunities because it’s about bringing these companies together.”

Agriculture and land reform minister Thoko Didiza said the agreement signed in agriculture, aquaculture and fisheries will open market access from SA to Saudi Arabia and vice versa.

“We are interested in opening up the meat market for beef, lamb and goat. We have Halaal standards in SA and hope to finalise the Halaal standard settings in Saudi so that we facilitate our meat products into the Saudi market.”

Transport minister Fikile Mbalula signed a MOU on a mutual recognition of seafarers, certificates and a maritime transport agreement.

“The maritime agreement focuses on the enhancement of maritime co-operation between the two countries based on the existing co-operation on economic, commercial investments and technical fields.”

International relations minister Naledi Pandor said she was happy that the meeting had finally happened.

“At a political level we share a lot of common perspectives on the multilateral stage and I believe that these were discussed by our two leaders and we will continue to enhance co-operation.”

Real results, she said, will be increased investment, greater economic formation in SA and continuing political dialogue and partnership with the kingdom.

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