Equatorial Guinea is aiming to strengthen its economic relations with the Kingdom of Saudi Arabia at the first-ever Equatorial Guinea-Saudi Arabia Economic Forum.
The Forum organized by Equatorial Guinea’s Ministry of Mines and Hydrocarbons capitalizes on the success of the Forth Arab-Africa Summit which was organized by the African Union and held in the West-African nation in November 2016.
It seeks to identify investment opportunities and boost trade between Equatorial Guinea and Saudi Arabia in core sectors including mining, hydrocarbons, agriculture and fisheries. The two countries will also explore other joint areas of cooperation at the economic forum.
“There is already a strong foundation for a great relationship between Equatorial Guinea and Saudi Arabia, one that is grounded in mutual respect and admiration,” said Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons who will make a presentation on key petroleum and mining projects taking place in Equatorial Guinea.
Former Benin President Thomas Boni Yayi has served as an ambassador of relations between Equatorial Guinea and Saudi Arabia assisting the country in its continued quest to strengthen ties with the Arab world.
In October 2016, the West African nation inked a memorandum of understanding to regulate bilateral relations with the Government of Kuwait.
President Teodoro Obiang Mguema Mbasogo will lead a delegation which will also include the Centurion Law Group and Africa Oil & Power to the Equatorial Guinea-Saudi Arabia Economic Forum scheduled for 10 May 2017 in Jeddah, Saudi Arabia.