Saudi Arabia To Import South African Meats
Following the lifting of the restrictions on South African meat imports, Saudi Arabia will start importing South Afref and lamb products as part of an investment push to forge stronger trade ties wit most developed economy.
The kingdom’s Food and Drugministration lifted a 20-year prohibition on South African m in August, and final approvals to star alaal cuts to the M rn nation are now in place, said Matthew Karan, part-owner of Karan Be
a–Saudi Arabia Business Council briefing.
Saudi Arabia has a $2 billion meat market, and lifting the ban — which Riyadh imposed after an outbreakot and mouth disease two decades ago — is part of its efforts to forge stronger t nd investment ties as it seeks to diversify its $1.1 trillion economy away from oil.
Saudi Arabia is among countries invited to join China, Russia, India, Brazil and South Africa in the BRICS bloc, the grouping’s first expansion since 2010. Its membership in the body, expected to have been formalized on Jan. 1, is not yet a done deal, with Saudi Minister of Economy and Planning Faisal Al Ibrahim saying last week that the oil-rich country is still evaluating the invitation.
One of the body’s aims is to increase trade and investment between the member nations.
Pharmaceuticals and technology are other areaAspen Pharmacare Holdings Ltd. set to work with Saudi companies on endocrine and anaesthetic products, said Stavros Nicolaou, Aspen’s senior executive for strateg the two nations’ business council.ration between South Africa and Saud ased
The push for exporting beef and lamb products into Saudi Arabia has opened up conversations for other agricultural products including poultry, Nicolaou s
e world’s biggest oil producer is ploughing millions of dollars into becoming a global supply-chain hub and crea vehicles to pharmaceuticals to meet local demand and for export to the Middle East and Africa.
Nicolau noted that Saudi Arabia is also looking at investmenies in sports, with falconry and equestrian disciplines among possibilities.
Backedblic Investment Fund, Saudi Arab ports investments, leading a group that bought English Premier League football club Newcastle United FC, and buying players such as Brazil’s Neymar, France’s Karim Benzema and Portuguese superstar Cristiano Ronaldo.
Riyadh haspressed interest in buying a multibillion-dollar stake in the Indian Premier L ernational cricket’s most lucrative event.