South Africa and Saudi Arabia Sign Memorandum of Understanding to Expand Agricultural Trade Relations

The South African and Saudi Arabian governments have signed numerous trade agreements, including the Memorandum of Understanding (MoU) on Agriculture. These agreements were formalised during the South African Presidential visit to Saudi Arabia from October 15-16. The two countries have entered into an agriculture MOU for the export of South African red meat, focusing on beef, mutton, and goat meat. Based on the MOU, the departments of agriculture of both countries will finalise the technical details for the commencement of red meat exports. South Africa is looking to expand its export market share in Saudi Arabia, as Saudi Arabia currently accounts for 2% of overall international trade flows from SA, and the intention is to expand more trading volume within these cooperation agreements.