From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Feb 11 2009 - 16:03:49 EST
Saudis to invest in Ethiopia and Sudan
Ghazanfar Ali Khan |
Wednesday 11 February 2009 (16 Safar 1430)
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RIYADH: A group of Saudi businessmen have planned to invest over SR1 billion
in agricultural projects in Ethiopia and Sudan on a staggered schedule
within next few years. The investment plans got a major boost today when the
Kingdom and Ethiopia signed an agreement here to continue and expand
cooperation in different sectors, especially in the field of agriculture,
with the aim of providing food security for Saudi nationals. "The agreement
signed by Agriculture Minister Fahd Balghunaim and Ethiopian Minister of
Finance and Economic Development Sufian Ahmed will further strengthen
bilateral trade and investment links," said Abdullah Al-Obaid, deputy
minister of agriculture, here yesterday. Al-Obaid said that the accord was
signed on the sidelines of the Saudi-Ethiopian Joint Ministerial Committee
meeting, which began its deliberations yesterday. This was the second
session of the panel.
The meeting, Al-Obaid said, will help to enhance exchanges in various fields
between the Kingdom and Ethiopia. The session was co-chaired by Balghunaim
and Ahmed. On the trade and investment front, Al-Obaid said that the two
countries had forged closer relation.
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