Mubasher: Trade exchange between Qatar and South Africa, which is one of the key trade partners to the GCC nation, increased during the full-year 2017.
The bilateral trade between the two nations amounted to $361 million in 2017, Muhammed bin Ahmed bin Towar Al Kuwari, vice chairman of Qatar Chamber, said.
South African exports to the world’s biggest exporter of liquefied natural gas (LNG) surged 70% to $155.5 million last year, from $104.05 million in 2016, Faizel Moosa, South Africa's Ambassador to Qatar, said.
Exports from the African country to Doha rapidly increased in the post-blockade period.
Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic ties with the gas-rich state, accusing Qatar of financing terrorism. Qatar forcefully denies the charges.
Meanwhile, South Africa's trade deficit with Qatar slid to $50.4 million in 2017, compared to $240.5 million in the year before.
As for gas, South Africa has decided to increase the share of gas in its energy mix to 23% in the coming few years, from only 3%, currently.
"South Africa is also planning to enter into talks with Qatar for buying LNG to achieve its goal of increasing the share of gas in its energy mix,” Moosa added.
