In a significant move to strengthen bilateral economic relations, Saudi Arabia and Ethiopia have inaugurated a joint business council aimed at enhancing collaboration in key sectors. The announcement was made during the Ethio-Saudi Investment and Trade Forum, held in Addis Ababa, which brought together a substantial assembly of over 250 investors, ministers, and officials from both nations.
At the forefront of this initiative is the Federation of Saudi Chambers, represented by its Chairman Hassan Al-Huwaizi, alongside the Ethiopian Chamber of Commerce. The signing ceremony marked a milestone in the continuous pursuit of closer economic ties between the two countries.
Al-Huwaizi emphasized that this council is a testament to the ongoing efforts to cement a mutually beneficial partnership, providing a robust platform for Saudi and Ethiopian entrepreneurs to showcase their ventures and form strategic business alliances.
The forum delved into the promising investment prospects within Ethiopia’s vibrant sectors, including industry, agriculture, and energy—all areas that resonate with the interests of both parties.
The Saudi delegation, on a mission to explore potential collaborations, visited several Ethiopian landmarks such as the Eastern Industrial Zone and the Chaka House project, gaining insights into the diverse investment opportunities that the country has to offer, particularly in the fodder production and coffee industry sectors.