17 January 2019

Ethiopia, KSA Agreed to Boost Economic, Investment Ties

Addis Ababa — Ethiopia and the Kingdom of Saudi Arabia (KSA) agreed to boost bilateral economic and investment ties.

A business delegation led by Finance and Economic Cooperation Minister, Ahmed Shide and the Governor of the National Bank of Ethiopia which left for Riyadh yesterday discussed with the Saudi counterpart Mohammed Al Geden and other higher officials of KSA.

A press release from the Office of the Spokesperson of the Ministry of Foreign Affairs disclosed that the delegates represented from the two countries have agreed to boost their economic and investment relations.

The agreement between the two countries focused on economic partnership in agriculture, infrastructure development, energy, manufacturing industries and trade.

The agreement is reportedly based on ascertaining benefits for both countries and the KSA officials had reaffirmed their commitment to support investment programs to be conducted by Saudi businesspersons.

The Ethiopian Finance Minister Ahmed Shide had also discussed with the Saudi Ministers of Agriculture, Environmental Protection and Water Resources.

Ahmed also conducted extensive discussions with the officials of Saudi Development Fund on various sectors of economic development between the two countries.

The Kingdom of Saudi Arabia is Ethiopia's third trade partner and the two countries established diplomatic relations in 1949.

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