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Johannesburg - Saudi Arabia intends investing in South African agriculture, it emerged on Monday at a joint commission in Johannesburg.
"Saudi Arabia cannot forever be solely dependent on oil and oil resources," said its Commerce and Industry Minister Abdulla Ahmed Zeinal Ali Reza.
At the moment, oil imports from Saudi Arabia accounted for South Africa's R22.9bn trade deficit with the kingdom.
Saudi Arabia realised that food security would be a key element in the next few years and that it could not be complacent about creating its own food security, said Ali Reza.
Its involvement in agriculture would be a long-term prospect and would involve not only importing produce, but also exporting its skills to improve production. Food processing was possible down the line, he said.
A lot of attention would be paid to agriculture and rural development in the next few years, said South Africa's Trade and Industry Minister Mandisi Mpahlwa.
South Africa needed to grow food "in a big way" so it could do away with its net food importer status.
"I think we have the capability to achieve this to internally generate programmes, but we also need to... generate investment," he said.
South African exports to Saudi Arabia have almost doubled, from R1.256bn in 2003 to R2.4bn in 2007, said the department of trade and industry.
Imports from Saudi Arabia increased from R15.054bn in 2003 to R25.3bn in 2007.
Areas identified as being of interest in the bilateral relationship include agro processing, construction, fishing, chemicals, boat building, metals and allied industries, electronics and information technology, mining and capital equipment, it said.
During the talks, an agreement will be signed on improving co-operation in the field of science and technology.
It is understood that this will provide an opportunity for collaborative research between the two countries.
A South Africa-Saudi business council will also be launched with the intention of strengthening trade and investment relations.
-Sapa
