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Saudi Arabia will begin importing beef and lamb products from South Africa as part of a drive to invest in the continent’s most developed economy.
Mathew Curran, co-owner of Curran Beef, said the Saudi Food and Drug Authority lifted a 20-year ban on imports of South African meat in August, giving final approval to begin shipping halal cuts to the Middle Eastern country. He said that he was attacked. One of South Africa’s largest meat producers.
“We plan to start exporting in the next few weeks,” he told reporters at the South Africa-Saudi Arabia Business Council briefing in Johannesburg on Wednesday.
Saudi Arabia has a $2 billion meat market, and the lifting of a ban imposed by Riyadh two decades ago in the wake of a foot-and-mouth disease outbreak is a major boost to Saudi trade and investment as it seeks to diversify its $1.1 trillion economy. This is part of our efforts to strengthen our relationship. Please keep away from oil.
Saudi Arabia was one of five countries to join the BRICS bloc on January 1, along with China, Russia, India, Brazil and South Africa, marking the group’s first expansion since 2010. One of the objectives of this organization is to increase trade and investment between member countries.
Stavros Nicolaou, Aspen’s senior strategic trade executive and co-chairman of both companies, said pharmaceuticals and technology are also potential areas for cooperation between South Africa and Saudi Arabia, with Durban-based Aspen Pharmacare selling endocrine and anesthetic products. The company said it plans to cooperate with Saudi companies. National business councils.
Nicolau said the promotion of exports of beef and lamb products to Saudi Arabia has opened discussions on other agricultural products, including poultry.
The country, which competes with the United States to be the world’s biggest oil producer, has become a global supply chain hub to meet local demand and exports to the Middle East and Africa, generating millions in new industries from electric vehicles to pharmaceuticals. I’m spending dollars.
Nicolau noted that Saudi Arabia is also considering investment opportunities in the sports sector, which could include falconry and equestrianism.
Saudi Arabia has spent millions of dollars in sports investments with the support of the Public Investment Fund, leading the group that bought English Premier League football club Newcastle United FC, as well as Brazil’s Neymar, France’s Karim Benzema, It has acquired players such as Portuguese superstar Cristiano Ronaldo.
Riyadh has also expressed interest in buying a multibillion-dollar stake in the Indian Premier League, international cricket’s most lucrative event.
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