The President of the Federation of Saudi Chambers (FSC) and the Ivorian Employers’ Association have signed a memorandum of understanding (MoU) in order to establish the Saudi-Ivorian Business Council.

This move intends to enhance trade and investment between the Kingdom of Saudi Arabia and the Republic of Côte d’Ivoire.

The agreement was signed by the President of the Federation of Saudi Chambers Mr. Hassan bin Mujib Al-Huwaizi and the Chairman of the Ivorian Employers Association, Mr. Ahmed Cisse, which coincided with the Saudi-African Summit that was held in the capital, Riyadh.

The Saudi-Ivorian Business Council will be responsible for organizing commercial activities and launching promotional campaigns to enhance investment and joint economic ventures and will provide a platform for Saudi and Ivorian business people. Furthermore, it will provide a platform for Saudi and Ivorian businesses to introduce and promote their activities and establish partnerships.

According to the statement, “It will also open new qualitative areas of economic cooperation and facilitate continuous interaction between the business sectors of the two countries, exchanging information about opportunities and markets, organizing exhibitions and conferences, and visits by trade delegations.”

Earlier this year, Saudi Arabia and Mozambique agreed on establishing a joint Saudi-Mozambican business council and forming a business delegation of Saudi businessmen to visit Mozambique in order to explore available investment opportunities.

During a meeting, they discussed opportunities for trade and investment partnerships between the Kingdom and the Republic of Mozambique in the fields of agriculture, water, electricity, tourism, infrastructure, and mining.