The Ethio-Saudi Arabia Business Forum convened in Addis Ababa on Tuesday (November 18), bringing together high-level government officials, diplomats, and business leaders to advance trade and investment cooperation. The event marked a significant step in expanding bilateral economic ties and creating new pathways for mutually beneficial partnerships.
In his opening remarks, Abdulhakim Mulu, State Minister of Trade and Regional Integration, stated that despite significant opportunities, the current economic cooperation between Ethiopia and Saudi Arabia remains below its potential. He emphasized that the newly established Ethio-Saudi Business Council, alongside platforms like this forum, is crucial for enhancing business-to-business engagement, uncovering new areas of collaboration, and strengthening partnerships. The State Minister highlighted Ethiopia’s strong economic performance and its attractiveness for Saudi investment in sectors such as agriculture, manufacturing, technology, and tourism.
Ambassador Dewano Kedir, Director-General for Middle East, Asia and Pacific Affairs, underscored the forum’s strategic value, describing it as a platform built on shared opportunity, trust, and long-term cooperation. He cited Ethiopia’s homegrown economic reforms, abundant natural resources, and large domestic market as key pillars that position the country as a gateway to broader regional markets.
Speaking for the Kingdom of Saudi Arabia, Salih Almogbil, Chargé d’Affaires of the Saudi Embassy, commended the organizers and participants for their commitment to bilateral engagement. He reaffirmed the growing interest of Saudi investors in Ethiopia’s evolving economy and noted that the forum provides a meaningful space for dialogue and partnership-building.
Dagato Kumbe, Deputy Commissioner of the Ethiopian Investment Commission, outlined Ethiopia’s reform-driven and increasingly competitive business environment. He highlighted progress in finance, telecommunications, and logistics, supported by reliable and affordable clean energy. Ethiopia’s strategic location, access to the 1.4 billion-person African Continental Free Trade Area (AfCFTA) market, and attractive incentives were presented as compelling reasons for Saudi investment.
Representing the Ethiopian private sector, Sebsib Abafira, President of the Ethiopian Chamber of Commerce and Sectoral Associations, welcomed the Ethio-Saudi Business Council as a significant milestone for deepening commercial ties.
Ambassador Muktar Kedir, Ethiopia’s Ambassador to Saudi Arabia, reaffirmed Ethiopia’s commitment to industrialization and encouraged Saudi partners to leverage the current momentum. He noted that the launch of the Business Council aligns with Ethiopia’s wider economic transformation under the leadership of Prime Minister Abiy Ahmed.
The forum concluded with sectoral presentations, interactive discussions, and networking sessions. Both sides expressed strong optimism that Ethiopia’s reform momentum and Saudi Arabia’s investment potential will elevate their partnership into a pillar of regional prosperity and shared growth.