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South African President Jacob Zuma, alongwith cabinet members, in talks with Qatar’s Emir Sheikh Tamim Bin Hamad Bin Al Thani in Pretoria, South Africa on 11th April 2017 [Image: GCIS]
Zuma and Al Thani will continue talks on Wednesday. The two sides are reviewing progress in bilateral political and economic relations between the two countries.
The visit “will identify three short-term projects in the fields of trade and investment, agriculture and oceans economy”, the Presidency said in a statement.
The two countries are pursuing the establishment of a joint SA-Qatar Investment Fund in cooperation with Qatar’s sovereign wealth fund. The Qatar Investment Authority is one of the world’s largest sovereign funds.
Bilateral trade between South Africa and Qatar has increased from R4 billion in 2012 to R7 billion in 2016.
As well as struggling with a volatile political environment, South Africa has been plagued by falling commodity prices and a chronically high unemployment rate.
Earlier last week, S&P Global Ratings downgraded South Africa to “junk” status following President Jacob Zuma’s cabinet reshuffle in which five minsters were removed from cabinet and five ministers moved to new positions.
TBP and Agencies
