Riyadh: The Chairman of the Federation of Saudi Chambers, Hassan Moejeb Alhwaizy, engaged in discussions today with Mesganu Arga Moach, the Ethiopian State Minister for Foreign Affairs, and his accompanying delegation. The meeting took place in Riyadh, with the primary agenda focusing on enhancing Saudi investments in Ethiopia.
According to Saudi Press Agency, the Ethiopian State Minister emphasized the significance of the Kingdom of Saudi Arabia as a strategic ally and reiterated Ethiopia’s dedication to attracting Saudi investments. Moach lauded a recent visit by a Saudi business delegation, describing it as a “new chapter” in the bilateral relations between the two nations. The discussions revolved around increasing and safeguarding Saudi investments in Ethiopia, with particular attention to providing incentives for investors.
Both parties reviewed the successful outcomes of the delegation’s visit, which included agreements on joint projects and the exploration of a potential investment protection treaty
. These developments signal a strengthening of economic ties between the two countries.
Abdullah Al-Ajmi, Chairman of the Saudi-Ethiopian Business Council, expressed confidence in the readiness of Saudi businesses to expand their investments in Ethiopia. He also urged officials to address any remaining challenges that could hinder this expansion. With the current bilateral trade valued at SAR1.3 billion, both nations recognize significant untapped potential for further growth and collaboration.