JEDDAH: At a summit held in Riyadh, authorities from Saudi Arabia and Ethiopia agreed to increase economic cooperation in important areas, such as manufacturing, tourism, and agriculture.
More than 150 representatives from the public and private sectors of both countries attended the event, which was organised by the Federation of Saudi Chambers. According to the Saudi Press Agency, it was the first significant gathering since the Saudi-Ethiopian Business Council was established last year.
Recognising Ethiopia’s potential as a favourable investment environment and a major trade gateway to the continent, the project is in line with Saudi Arabia’s plan to deepen economic ties with African countries and investigate new markets and investment opportunities.
Abdulhakim Mulu, Ethiopia’s State Minister for Trade and Regional Integration, extended an invitation to Saudi investors to investigate prospects in important industries like as manufacturing, hospitality, food production, tourism, and agriculture.
He highlighted Ethiopia’s swift economic expansion and the government’s dedication to enhancing infrastructure and creating an inviting business environment.
