RIYADH, 26 September — Ethiopia, which has received 75 percent of its overseas investment from Saudi Arabia, will now focus on tourism promotion by organizing package tours.
An Ethiopian trade delegation visiting Riyadh in the near future will discuss tourism promotion besides matters of trade and investment during their talks at the Riyadh Chamber of Commerce and Industry, Ethiopian President Grma Weleagyorges told Arab News in an exclusive interview held at the Royal Conference Palace.
President Weleagyorges, who will be in the capital till Saturday, has arrived here on a private visit.
During his stay, he called on Prince Abdullah, the regent, and exchanged views on bilateral relations. He described his talks as useful and constructive, as they could pave the way for future growth in these ties. He said Prince Abdullah recalled the historical relations between the two countries dating back to the time of Prophet Muhammed (PBUH) and hoped that they would continue to flourish.
Referring to the upcoming trade delegation, he said their talks at the chamber of commerce would focus on ways of boosting these relations, especially in the agricultural and trade sectors.
The Kingdom has already signed a Memorandum of Understanding with Ethiopia for the import of meat and livestock. Meat and agricultural exports (coffee being the major export item) will be among the topics of discussion between businessmen on both sides.
Another item on the agenda will be manpower supply. An estimated 100,000 Ethiopian expatriates reside in the Kingdom.
Characterizing Saudi-Ethiopian relations as excellent, the president said it was a matter of great satisfaction to his country that Saudi investment stood at $ 3.75 billion last year, or 75 percent of the total $ 5 billion. “Of course, there is a good potential for further boosting these investments.
But if you consider that we had to start from scratch because of the hangover from the country’s communist past, it’s not a bad beginning,” the president said, adding that some leading Saudi businessmen had invested in the agro-industry and tourism-related projects.
The Al-Khorayef group, he pointed out, was about to complete the expansion of the Addis Ababa airport. The expansion-cum-renovation project, which has cost more than $1 billion, will be handed over by February 2003. It represents a great example of Saudi-Ethiopian cooperation. Another major investor is the Saudi-German Hospital, which is setting up a $ 100 million hospital over a 150,000 sq.meter plot. The project will be executed in three years.
The Ethiopian president said there was good scope for investment in the tourism sector, which has been hamstrung by a lack of funding.
“Our country has a wealth of tourist attractions. But we do not have adequate hotels to cope with the tourist inflow.” He observed that since his county would like to diversify its relations with the Kingdom, tourism promotion would be another priority.
“Saudis could shoot our wildlife with their cameras,” he said adding,”Our tanning industry offers joint venture possibility, since millions of sheep and other animals are sacrificed in the Makkah area and other parts of the Kingdom during the Haj period. The animal skin could be used for the production of shoes, bags and various leather goods.”
