# Saudi Arabia’s Export-Import Bank has signed a 440-million-rand credit agreement with Standard Bank to enhance trade between the oil-rich kingdom and South Africa. This deal aims to facilitate Saudi exports to Africa and support investments in the country. South Africa’s exports to Saudi rose from 6.6-billion-rand in 2022 to 8.1-billion-rand last year. Saudi Arabia was South Africa’s 14th-biggest trading partner last year. Minister of Trade, Industry and Competition, Parks Tau, says they are looking to develop a two-year action plan to strengthen economic ties between the two countries.
Saudi Arabia boosts trade with SA through credit deal