The Saudi-Ethiopian Business Council, recently approved by the General Authority for Foreign Trade in Riyadh, is aligned with the strategy of deepening relations with Africa, particularly with Ethiopia, considered one of the largest economies on the continent, citing a report by the Saudi Press Agency.
Council President Abdullah bin Mohammed Al-Ajmi emphasized that they are prepared to capitalize on that untapped potential by fostering stronger trade partnerships between the two countries, supporting Saudi exports and targeting key sectors in Ethiopia.
Regarding the latter, Al-Ajmi highlighted the attractive investment environment and the strategic role as a commercial center for Central Africa, and noted that they will focus on promising areas such as agriculture, mining, petrochemicals, the food industry, tourism, real estate and construction.
The creation of the Council responds to an agreement announced almost three months ago during the Saudi-Ethiopian Business Forum, held on June 5th in the capital of Ethiopia.
The ceremony was attended by the Federation of Saudi Chambers, Hassan bin Moejeb Al-Huwaizy, along with more than 250 investors and several ministers, functionaries and representatives of the public and private sectors of Ethiopia.
Al-Huwaizy described the establishment of the Council as a result of continuous efforts and a shared commitment to enhance economic cooperation. He considered that it will provide a vital platform for entrepreneurs from both countries to expand their activities and forge new partnerships, driving mutual growth and investment.
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