May 02, 2025
The inaugural meeting of the Ethio-Saudi Business Council, the Second Ethiopia-Saudi Business Forum, and B2B discussions took place on Tuesday (April 22) in Riyadh, Saudi Arabia. The event was organized by the Ethiopian Embassy in Riyadh in collaboration with the Federation of Saudi Chambers of Commerce. It brought together leaders from the Ethiopian Chamber and sectoral associations, the Federation of Saudi Chambers, members of the Joint Business Council, and business communities from both countries.
Three separate events were held. The first was the Ethiopian and Saudi Arabian Joint Business Council (JBC) meeting, aimed at identifying business opportunities in both countries and discussing ways to enhance trade and investment relations.
This was followed by the Ethio-Saudi Business Forum, attended by over 150 participants, including government officials and business leaders from both countries. The forum featured presentations on trade and investment opportunities, policies, and incentives available in both nations. The final event was the B2B session, which facilitated closer cooperation between the business communities of both sides.
During the event, Ethiopia’s State Minister for the Ministry of Trade and Regional Integration, Abdulhakim Mulu, invited Saudi investors to explore opportunities in key sectors such as agriculture, manufacturing, mining, ICT, tourism, construction, and logistics. He highlighted Ethiopia’s rapid economic growth and the government’s commitment to creating a favorable investment climate. He also noted that the limited trade and investment between the two countries reflect untapped opportunities. Similarly, Sebsib Abafra, President of the Ethiopian Chambers and Sectoral Associations, emphasized the potential for both sides to capitalize on existing opportunities.
On the Saudi side, Hassan Al-Huwaizi, President of the Federation of Saudi Chambers of Commerce, stated that Ethiopia’s government initiatives align with Saudi Arabia’s Vision 2030 strategy, which aims to strengthen economic ties with African nations and explore new investment opportunities. He acknowledged Ethiopia’s potential as a favorable investment destination and a key trade gateway to Africa, particularly in agriculture, food industries, mining, and real estate.
Ethiopian Ambassador to Saudi Arabia, Muktar Kedir, noted that Ethiopia’s relationship with Saudi Arabia is based on centuries of shared history and mutual respect. He reaffirmed the Embassy’s commitment to supporting the strengthening of ties, particularly in business-to-business relations. He also invited the Saudi business community to participate in the upcoming “Invest in Ethiopia” International Forum, scheduled to take place at the Addis Ababa International Conference Centre.
Ambassador Negus Kebede, Director General for Middle East, Asia, and Pacific Affairs at the Ministry of Foreign Affairs of Ethiopia, presented on Ethiopia’s investment opportunities, explaining the favorable conditions for foreign investors in sectors such as agriculture, technology, mining, manufacturing, and tourism. Meleket Sahl, Vice Chief Executive Officer of Ethiopian Investment Holdings, also provided valuable insights into the government’s initiatives in these areas. Both officials invited the Saudi side to engage in trade, investment, and tourism in Ethiopia.
The Ethiopian-Saudi Business Council meeting serves as a platform to enhance economic and investment cooperation between Ethiopia and Saudi Arabia. The forum marked the first event since the establishment of the Ethio-Saudi Business Council in June 2024 in Addis Ababa. Both sides agreed to exchange business information and collaborate for mutual benefit.