Ethiopia, Saudi Arabia Strengthening Economic Ties, Says Trade and Regional Integration State Minister

Addis Ababa, November 18, 2025 (ENA) - "Ethiopia and Saudi Arabia are strengthening economic ties by focusing on investment, trade, and technology,'' Trade and Regional Integration State Minister Abdulhakim Mulu said.

Speaking at the Ethiopia-Saudi Arabia Business Forum held at Marriott Hotel in Addis Ababa, he added that the three main sectors for collaboration are agriculture, manufacturing, and technology.

According to him, the Ethiopian government is putting a strong emphasis on developing its agriculture, manufacturing, and technology sectors to diversify the economy and create a mutually beneficial trade corridor.

"Over 200 Saudi companies currently operate in Ethiopia with potential for significant growth," noting the governments' commitment to regulatory improvements.

The State Minster said the Ethiopian government is committed to regulatory improvements and creating a conducive environment for foreign investment.

Ethio-Saudi Business Council Chairman, Abdullah Mohammed Al-Ajmi, said "this partnership signifies a new phase in strengthening economic cooperation, with the participation of more than 90 Saudi and 120 Ethiopian companies."

He spoke about the current trade levels and future goals as the current trade volume indicates that there is significant room for expansion.

"Objectives for developing cooperation include a target of increasing trade volume to 1.5 billion USD within the next year."

Saudi Arabia's Charge d'affaires at the Embassy in Ethiopia, Salih Almogbil stated that he Ethiopian-Saudi Business Forum embodies the richness of the fraternal relationship between Ethiopia and Saudi Arabia.

"This business forum serves as an essential platform for the exchange of expertise and the exploration of promising new opportunities that can benefit both nations," he added.

The Charge d'affaires said this is evident in the notable growth in trade and investment that underscores the strong connections between the two countries.

"Business owners and investors have been invited to delve into the various opportunities that the Kingdom offers, encouraging the discovery of new avenues for collaboration."

Speaking to ENA on the sidelines of the Forum, Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) Board Member, Megabi Sireat Taye Leta said the main purpose of the occasion is to facilitate significant investment opportunities between Ethiopia and Saudi Arabia.

“The primary concern is to actively encourage Saudi Arabian companies to consider Ethiopia as a viable destination for their investments,” he added.

According to him, the previous forum laid the groundwork for future collaboration; "but now, we are witnessing a more substantial participation.”

The number of companies from both countries was relatively modest at the last forum.  However, this year "we are excited to have over 85 large companies from Saudi Arabia, alongside more than 120 significant Ethiopian companies coming together for the event.”