The Federation of Saudi Chambers and the Ethiopian Chamber of Commerce have taken a significant step forward in strengthening economic ties by forming a joint Saudi-Ethiopian Business Council. This initiative marks a pivotal move to boost the economic collaboration between the Kingdom of Saudi Arabia and Ethiopia.
The formalization of this partnership occurred during the Ethio-Saudi Investment and Trade Forum in Addis Ababa, which saw the attendance of over 250 investors, and was graced by Ethiopian ministers, officials, and representatives from government and private entities of both nations. Hassan Al-Huwaizi, the Chairman of the Federation of Saudi Chambers, was present at the signing ceremony.
Al-Huwaizi highlighted the significance of the business council, noting it as a culmination of persistent efforts by both countries to create a robust mechanism for Saudi and Ethiopian entrepreneurs to showcase and enhance their business ventures and forge new commercial partnerships.
The forum served as a platform to discuss the investment climate in Ethiopia, focusing on the industrial, agricultural, energy, and additional economic sectors that present mutual interests. The discussions aimed to underline the potential advantages and incentives for investment in Ethiopia.
In an effort to deepen understanding of the local market, the Saudi business delegation toured prominent Ethiopian sites including the Eastern Industrial Zone, the Chaka House project, and complexes dedicated to fodder production and coffee industry. These visits provided comprehensive insights into the diverse investment opportunities that Ethiopia has to offer.