Saudi Arabia and Ethiopia Forge Joint Business Council to Boost Economic Ties

KSA, 6 June, 2024 : The Kingdom of Saudi Arabia and Ethiopia have taken a significant step towards enhancing economic cooperation by signing an agreement to establish a joint Saudi-Ethiopian Business Council. The agreement, signed by the Federation of Saudi Chambers and the Ethiopian Chamber of Commerce, marks a milestone in fostering bilateral business relations.

The signing ceremony, held at the Ethio-Saudi Investment and Trade Forum in Addis Ababa, was attended by Chairman of the Federation of Saudi Chambers, Hassan Al-Huwaizi, along with over 250 investors, Ethiopian ministers, officials, and representatives from government and private agencies.

Al-Huwaizi emphasized the collaborative efforts from both countries in establishing the business council, highlighting its role in facilitating partnerships and promoting commercial activities between Saudi and Ethiopian entrepreneurs.

The forum focused on discussing investment opportunities in Ethiopia, particularly in industrial, agricultural, and energy sectors, areas of mutual interest for both nations.

As part of the forum, the Saudi business delegation visited key sites in Ethiopia, including the Eastern Industrial Zone, Chaka House project, and fodder production and coffee industry complexes. They were briefed on various investment opportunities available across sectors.

The establishment of the joint business council underscores the commitment of Saudi Arabia and Ethiopia to strengthen economic ties and explore avenues for mutually beneficial cooperation.

Source : www.zawya.com