Ethiopia, Saudi Arabia Sign Fuel, Energy Cooperation Deal

Ethiopia and Saudi Arabia signed on Thursday a cooperation agreement in the petroleum and energy sectors.

The deal was signed by Finance Minister of Ethiopia Ahmed Shide and Saudi Energy Minister Abdulaziz bin Salman Al Saud in Riyadh.

The agreement allows the two countries to collaborate in the fields of oil supply, energy technology transfer, and energy investment, according to the Ethiopian embassy in Riyadh.

It also covers partnering in joint projects in electricity, innovation, cyber-security, and artificial intelligence.

Finance Minister Ahmed is in Riyadh attending the Saudi-African Economic Conference which kicked off today. The conference brought together ministers, think tanks, and NGOs as well as development banks to discuss how to enhance trade between Saudi and Africa.

The event is part of the Kingdom’s efforts to enhance economic cooperation and seize investment opportunities with African countries.