Saudi Arabia to import South African meat in BRICS push

BREAKING NEWSJanuary 27, 2024 at 7:49 AM UTC

TLDR

Saudi Arabia lifts ban on South African meat imports after a two-decade-long restriction due to foot and mouth disease outbreak.
The decision aligns with Saudi Arabia's economic diversification strategy and aims to strengthen trade and investment ties.
Collaboration in various sectors, including pharmaceuticals, technology, and sports, is being explored, with potential discussions on importing additional agricultural products from South Africa.

Saudi Arabia has recently lifted a two-decade-long ban on South African meat imports, particularly allowing the import of beef and lamb products, which was initially imposed due to a foot and mouth disease outbreak. This decision aligns with Saudi Arabia's broader economic diversification strategy to strengthen trade and investment ties.

In addition to the resumption of meat imports, Saudi Arabia is exploring collaboration in various sectors, including pharmaceuticals and technology, and is considering investments in sports. This move may open avenues for discussions on importing additional agricultural products from South Africa, potentially extending to items like poultry.

Matthew Karan, part-owner of Karan Beef, one of South Africa’s major meat producers, mentioned, "The plan is to start exports in the coming weeks," indicating a positive development for both countries in terms of economic cooperation and trade expansion.

Key Takeaways

The decision by Saudi Arabia to lift the 20-year ban on South African meat imports, particularly beef and lamb products, is noteworthy in the context of the $2 billion Saudi meat market. The ban, initially imposed due to a foot and mouth disease outbreak two decades ago, is part of Saudi Arabia's broader economic diversification efforts. To move away from its reliance on oil and diversify its $1.1 trillion economy, Saudi Arabia is actively seeking stronger trade and investment ties. Saudi Arabia's recent inclusion in the BRICS bloc, alongside China, Russia, India, Brazil, and South Africa, marks a significant expansion of the grouping, the first since 2010. This move reflects a strategic effort to enhance collaboration and increase trade and investment among the member nations. As Saudi Arabia aims to bolster its economic resilience, lifting trade restrictions, such as the ban on South African meat, is a key step in fostering international economic relationships.

South Africa

Saudi Arabia

BRICS

Trade