TWO agreements have been signed between Zanzibar and Saudi Arabia upon the visit of a Saudi Arabian business delegation, yesterday.

The first was a consultancy agreement linking the Saudi Arabia African Investment and Development Co. with the Zanzibar authorities, witnessed by President Dr Hussein Ali Mwinyi, a State House statement said.

A cooperation agreement between the Zanzibar National Chamber of Commerce (ZNCC) and the Federation of Saudi Chambers of Commerce was also signed, with the two agreements meant to promote strategic investments and boost Zanzibar's economic growth.

In his remarks when meeting the delegation, President Mwinyi said that Zanzibar still offers many investment opportunities in various sectors.

Urging a good turnout of investors from Saudi Arabia to invest in the archipelago, he said the visit was geared to identify areas for cooperation, investment and trade.

Sectors with substantial investment opportunities include agriculture, oil and gas, plus infrastructure, he said, satisfied that the delegation opted to visit Zanzibar.

That opens a new chapter of cooperation between Zanzibar and Saudia, he said, urging the delegation members to be good ambassadors in promoting Zanzibar's investment opportunities back home.

Hassan Alhuwayz, president of the Federation of Saudi Chambers of Commerce, expressed the delegation’s commitment to strengthen cooperation with Zanzibar in trade and investment.

Members of the delegation had already identified many opportunities and were impressed by Zanzibar's achievements and prevailing peace and stability, he added.