Pretoria - President Jacob Zuma is in Abu Dhabi in the United Arab Emirates (UAE) on a State visit that will see the signing of multiple trade and economic agreements.
Zuma, who is on a two-nation tour of the Gulf region, is visiting the UAE today and Oman from Tuesday to Wednesday with the aim of identifying greater investment opportunities.
"We are pleased that institutions such as the Abu Dhabi Investment Authority are committed to investing in South Africa. Our ministers have been directed to work out roadmaps for enhancing trade relations between the two nations during this visit,'' said President Zuma on Sunday on his arrival.
Not only is the Gulf the source of more than half of South Africa's crude oil requirements, but it has become a major market for South African products, a source of investment and home to a sizeable South African expatriate community.
Both Oman and the UAE are important markets for the South African defence industry.
The Middle East is an important economic region as it occupies a unique geopolitical position in the tri-continental hub of Europe, Asia and Africa.
It is the source of 67 percent of the world's petroleum reserves and commands two of the most strategically important waterways in the world, namely the Gulf and the Red Sea, giving access to the Asian hinterland via the Gulf of Aqaba.
The potential for greater interaction between the two countries is enhanced through the 56 weekly flights between South Africa and the UAE.
South Africa and the UAE have signed five bilateral agreements, which provide the framework for co-operation.
There are 10 draft agreements, which are currently being negotiated, and they are in the areas of defence, taxation, industrial development, promotion of investments, legal matters, social development, transport and a joint commission on bilateral issues.
In Oman, it is expected that a "Supplementary Protocol amending the Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income" would be signed.
