High-level Saudi Delegation Visit Will Boost Relations: Ambassador Almotairi

Addis Ababa, June 8/2024(ENA) The recent visit of a high-level Saudi delegation will further bolster trade and investment as well as bilateral relations, Saudi Arabia Ambassador to Ethiopia Fahad Obaydallah Alhumaydani Almotairi said. 

Recall that a high-level Saudi Arabian Investment and Trade delegation comprising 79 investors and officials from the Chamber of Commerce, held a three-day visit aimed at enhancing the trade and investment relations between the two countries.

At the conclusion of their visit to Ethiopia, the high-level delegation met with Prime Minister Abiy Ahmed.

The discussion with the premier focused on investments in agriculture, housing, and tourism, with special emphasis on local fertilizer production, according to the Office of the Prime Minister.

 

In an exclusive interview with ENA, the Saudi Arabia Ambassador Almotairi said the recent exchange of high-level officials and business delegation show the growing relations between the countries.

“Recently the Saudi-Ethiopia relation has had a lot of development. The foreign minister of Ethiopia has been in Saudi Arabia, and now we are witnessing the high-level Saudi delegation in Ethiopia.”

Saudi Investors are looking forward to establishing a great business deal with their Ethiopian counterparts, he added, noting that the two chambers of commerce signed a Memorandum of Understanding to work together.

Signing of the memorandum will allow for the expansion of economic cooperation between the two countries, it was learned.

According to Ambassador Almotairi, Saudi investors are now focusing on investing in many business sectors like agriculture, mining, logistics and banking industry among others.

He believes that such activities will further elevate the two countries’ bilateral relations.  

The ambassador praised Ethiopia for the major reforms it has undertaken in various sectors,  ranging from improving policies to restructuring institutions to encourage foreign investment in various sectors.

Ethiopia's Ambassador to Saudi Arabia Lencho Bati said for his part that Ethiopia has huge arable land, ample water, and good climate, among others, as Saudi investors have the desire to invest in agriculture, real estate, mining, and tourism sectors.

 

He noted that the recent visit of the high-level Saudi delegation to Ethiopia will be instrumental in further enhancing bilateral relations.

According to him, the reform Ethiopia is undertaking in various sectors will be a massive opportunity for investors.

Ethiopia and Saudi Arabia have more than 70 years of diplomatic relations, and the visit is a testament of the development of the relationship between the two countries.