Ethiopia Rolls Out Red Carpet for Saudi investors

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June 14, 2011 (Ezega.com) - Hailemariam Desalegn, Ethiopian deputy prime minister, has said that Ethiopia looks forward to cementing its historical bilateral ties with Saudi Arabia and that he has been involved in successful discussions with that country’s top leaders during his Saudi visit. The Ethiopian minister invited Saudi businesses to invest in his country, which has a vast resource potential.

Lauding the historical ties with Saudi Arabia, Hailemariam Desalegn, who is also the Ethiopian foreign minister, said that he had lengthy discussions on national, regional, and global issues with Saudi Foreign Affairs Minister Prince Saud Al-Faisal and Custodian of the Two Holy Mosques King Abdullah.

The Ethiopian foreign minister led a nine-member delegation to Saudi Arabia. Both sides are scheduled to attend the Joint Economic Commission Meeting in Addis Ababa in September to discuss various issues. Earlier, the meeting was held in Riyadh two years ago.

Inviting Saudi businesses to make foray in his country in agro-processing, energy, agriculture, tourism, infrastructure, and mining, the Ethiopian minister said that trade between Ethiopia and Saudi Arabia, which is about SR2 billion, had a great potential to increase and that his country was leaving no stone unturned to ensure that Saudi investors find a conducive investment environment in Ethiopia. He added that Ethiopia was initiating steps to benefit the Kingdom in its efforts to ensure food security for its fast-increasing population.

Cont'd at the link: http://www.ezega.com/News/NewsDetails.aspx?Page=heads&NewsID=2934

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