Saudi Arabia wants strong trade, investment ties with Ethiopia: Ambassador Al-Hamidani

Addis Ababa, March 17, 2023 (FBC) – Saudi Arabia is eager to have a strong trade and investment relationship with Ethiopia, Ambassador Fahd Obaidullah Al-Hamidani said.

The ambassador pointed out that the economic relation between Ethiopia and Saudi Arabia is commendable. 

The two countries are represented in investments made by Saudi business persons and the private sector of Saudi companies in agriculture, livestock and others.

However, Ambassador Al-Hamidani noted that this does not reflect the exiting potential of the relations and their importance in the region, stressing the need to further strengthen ties for the benefit of the people of the two countries. 

According to him, Saudi Arabia is eager to have trade cooperation, increase in trade exchange, and promote investments in Ethiopia.

There are ongoing consultations between the two countries to encourage business persons in general and Saudi business people in particular to enter the Ethiopian markets and invest as well, Ambassador Al-Hamidani said.

The agricultural investments of Saudi Arabia in Ethiopia are numerous, starting with agricultural crops and ending with the export of Ethiopian roses to the kingdom. 

He stated that the potential and investment opportunities in Ethiopia are promising and revealed that Saudi Arabia is working to expand its investment in Ethiopia. 

In the industrial sector, Ambassador Al-Hamidani also said that the embassy has been carrying out a communication contract between officials in Saudi Arabia and the Ethiopian Investment Commission with a view to strengthening investment in the sector.

The ambassador told ENA that the Pretoria peace agreement and the unity of ranks in Ethiopia will directly contribute to the recovery of the Ethiopian economy and attract foreign investments, and this will reflect positively on peace and security in the region.