Riyadh: The Saudi-Ethiopian Business Forum commenced on Tuesday in Riyadh, orchestrated by the Federation of Saudi Chambers. The forum witnessed the participation of over 150 representatives from the private sector, companies, and government entities from both Saudi Arabia and Ethiopia. The primary aim of the forum is to outline a roadmap for economic relations between the two nations.
According to Saudi Press Agency, Ethiopia's State Minister for the Ministry of Trade and Regional Integration, Abdulhakim Mulu, extended an invitation to Saudi investors to explore opportunities in various sectors, including agriculture, food industries, tourism, hospitality, and manufacturing. He emphasized Ethiopia's rapid economic growth and the government's commitment to creating a favorable investment climate and improving infrastructure.
Federation of Saudi Chambers Chairman Hassan Al-Huwaizi highlighted Saudi Arabia's efforts to strengthen ties with African countries, with a particular focus on Ethiopia, which serves as a gateway for Saudi exports to African markets. He pointed out Ethiopia's abundance of natural resources and its potential in agriculture, food industries, and mining. Al-Huwaizi also noted that the current trade volume, which stands at SAR1.3 billion, indicates significant untapped investment opportunities.
The forum is the first event since the establishment of the Saudi-Ethiopian Business Council in August last year. This initiative aligns with Saudi Arabia's strategy to enhance economic ties with African nations and explore new investment opportunities and markets. Ethiopia is seen as a fertile investment environment and a key trade gateway to Africa, with several promising sectors for bilateral cooperation.