The two-day Ethio-Saudi Arabia investment and trade forum is convening in Addis Ababa in the presence of Ethiopia’s high-level government officials and Saudi investment and trade delegation.
Recall a high-level Saudi Arabia investment and trade delegation headed by the president of the Federation of Saudi Arabia Chambers of Commerce, consisting of 79 investors representing renowned companies and officials from Saudi Arabia arrived in Addis Ababa last night.
Opening the forum, Minister of Planning and Development Fitsum Assefa said the visit of the high-level Saudi delegation manifests a new trajectory in the relations between the two countries.
Explaining Ethiopia’s enormous potential and opportunities, the Minister said that the country is committed to further creating a conducive business climate for foreign investors.
Fitsum further stated Ethiopia has currently embarked on massive economic reforms including the nation’s privatization endeavors to open up the financial sector, the telecom, and the trade sector as well as other spheres.
In this respect, she underscored today’s Ethio-Saudi Arabia investment forum will be vital to identifying areas of mutual interest.
Addressing the occasion, Chairperson of the Federation of Saudi Arabia Chambers Hassan Huwayz said Ethiopia is endowed with natural resources as Saudi has the desire to engage in the agriculture sector and other investment areas.
The Chairperson also stressed the need for further bolstering the two countries’ relations in investment and trade areas.
He also expressed Saudi Arabia’s commitment to enhance cooperation with Ethiopia in various spheres.
The visit of the high-level Saudi investment and trade delegation is intended to foster trade and investment opportunities, diversify economic relationships, and fortify bilateral relations between the two countries, it was learned.
The delegation is expected to sign a Memorandum of Understanding (MoU) with the Ethiopian Chamber of Commerce and Sectoral Association.
Moreover, the investors will also tour key sites, including Ethiopia’s industrial parks and other places.
Source: ENA
