The president was speaking at the Saudi-Niger Business Meeting held at the Council of Saudi Chambers. Commerce and Industry Minister Tawfiq Al-Rabiah, and Council of Saudi Chambers Chairman Abdullah Al-Mobty were also present at the meeting.

Mahamadou invited Saudi entrepreneurs to visit Niger to see for themselves the wide range of investment opportunities available in his country.

Citing a 15 percent growth rate, the president said that there is a conducive climate for foreign investors to do business in various sectors.

“Foreign investments are guaranteed and well protected by the government and there are ample opportunities in the agricultural sector,” he added.

Addressing Saudi businessmen, the visiting president also said that his country is rich in natural resources such as oil, uranium, phosphate and coal. “Foreign investors can also take part in infrastructure development projects such as the construction of roads, dams and highways.”

The visiting president, who met Custodian of the Two Holy Mosques King Abdullah on Friday, also had discussions with Crown Prince Naif, deputy premier and interior minister.

The president expressed gratitude and appreciation for the crown prince’s warm welcome and generous hospitality.

Prince Naif hosted a dinner banquet in honor of the visiting president on Friday.

Following the meeting at the Council of Saudi Chambers, Mahamadou also received Health Minister Dr. Abdullah Al-Rabeeah, Agriculture Minister Fahd Balghunaim and Saudi Development Fund Chairman Yousef Al-Bassam at the Royal Conference Palace yesterday.

In January 2010, the Saudi Fund For Development approved a grant of $ 20 million for the Kandadji Dam project in Niger.

In his speech, Commerce and Industry Minister Al-Rabiah strongly stressed the need for stronger bilateral trade relations between the two countries. He said Niger is rich in natural resources, a good attraction for Saudi investors to explore investment opportunities in Niger.

He also welcomed businessmen in Niger to take advantage of the trade opportunities available in the Kingdom to promote bilateral trade.

Earlier in his opening remarks, Al-Mobty said the two countries enjoy friendly relations based on common understanding and feelings of fraternity. He recalled the historical visit of the late King Faisal, who went to open the first Arabic school in Niger in 1962. He said that the current ambassador of Niger in the Kingdom is a graduate of that school.

Al-Mobty said the Kingdom gives great importance to strengthening its economic relations with African countries including Niger. He said these countries have projected encouraging growth rates following the recovery from the global financial crisis.

He added Kingdom and Niger have several promising areas of cooperation in the economic sectors. They include, he said, areas of cooperation in the fields of petroleum, petrochemicals, maintenance of oil refineries, industrial products and mining.

“Both countries could exchange their experiences in these areas for mutual benefit,” he added.

He also pointed out the possibilities of joint investments between the two countries in the agricultural sector including animal husbandry. “This in line with the vision of Custodian of the Two Holy Mosques King Abdullah, who is keen on promoting Saudi agricultural investment abroad,” Al-Mobty concluded.

The meeting was followed by a luncheon held in honor of the visiting president. The president left for Jeddah yesterday evening.