Addis Ababa: The Kingdom of Saudi Arabia and Ethiopia, represented by the Federation of Saudi Chambers and the Ethiopian Chamber of Commerce, have signed an agreement to establish a joint Saudi-Ethiopian Business Council. This agreement is an important step to advance economic cooperation between the two countries.

The signing ceremony took place today at the Ethio-Saudi Investment and Trade Forum in Addis Ababa. It was attended by Chairman of the Federation of Saudi Chambers Hassan Al-Huwaizi, more than 250 investors, Ethiopian ministers, officials, and representatives of government and private agencies from both countries.

Al-Huwaizi stated that the establishment of the business council is the result of continuous efforts from both countries. It will provide an effective platform for Saudi and Ethiopian businesspeople to introduce and promote their activities and establish commercial partnerships.

The forum discussed investment opportunities, advantages, and incentives in Ethiopia, particularly in industrial areas, agriculture, energy, and other economic sectors, which are areas of common interest for both sides.

The Saudi business delegation visited several major sites in Ethiopia, including the Eastern Industrial Zone, the Chaka House project, and the fodder production and coffee industry complexes. The delegation was briefed on the investment opportunities available in various sectors.