Saudi Arabia, Ethiopia Establish Joint Business Council

Saudi Arabia and Ethiopia, represented by the Federation of Saudi Chambers of Commerce the Ethiopian Chamber of Commerce, signed on Wednesday an agreement to establish a joint Saudi-Ethiopian business council, reported the Saudi Press Agency (SPA).

The joint business council between Saudi Arabia and Ethiopia aims to advance economic cooperation between both countries. The signing ceremony took place on the sidelines of the Ethio-Saudi Investment and Trade Forum, held in Addis Ababa. The president of the Federation of Saudi Chambers, Hassan Al-Huwaizi, attended the ceremony. In addition, over 250 investors, several Ethiopian ministers and officials, and representatives of public and private entities from both countries were present at the ceremony.

Saudi Arabia, Ethiopia Establish Joint Business Council
Ethio-Saudi Investment and Trade Forum

Al-Huwaizi hailed the agreement, saying: “The establishment of a Saudi-Ethiopian council is the product of continuous efforts and common desire. It will provide an effective platform for Saudi and Ethiopian businessmen to introduce and promote their activities, and forge business partnerships.”

Saudi Arabia, Ethiopia Establish Joint Business Council
Ethio-Saudi Investment and Trade Forum

The Ethio-Saudi Investment and Trade Forum discussed investment opportunities and benefits in Ethiopia, especially in industrial zones, agriculture, energy and other economic sectors of common interest.

The Saudi business delegation has embarked on a visit to Ethiopia from June 4-6, 2024. During the visit, the delegation has toured a number of key sites in Ethiopia. They included the Eastern Industrial Park, Chaka Project, animal feed and coffee production complexes. The Saudi delegation has explored the available investment opportunities in various sectors.

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