About 1,000 delegates from around the world are expected to head to Saskatoon next summer for the 2016 World Indigenous Business Forum.
The announcement was formally made at the English River Business Complex, just south of the city, Tuesday morning.
This will be the first time the international event has been held in Canada.
Indigenous Leadership Development Institute President Rosa Walker says the forum will provide a tremendous opportunity for Saskatchewan Aboriginal organizations to showcase their economic development projects and learn from others.
"Our whole goal is not only to create a network but to get something meaningful out of it," she says. "So, I think in Saskatoon we're pretty confident that's going to happen."
City of Saskatoon Director of Aboriginal Relations Gilles Dorval also says he believes the Saskatoon area has a lot to show the international community in terms of successful Aboriginal economic endeavours.
"In Saskatoon we've got a lot of partnerships where it's not just the city, as a municipal government, but you'll see there's a lot of partnerships in the private sector," he says.
The event costs about $600,000 to put on of which the City of Saskatoon has agreed to put in $150,000.
Walker says the remaining amount will be generated through registration fees and sponsorships.
The first World Indigenous Business Forum was held in New York City in 2011.
It has also been held in Australia, Namibia and Guatemala.
The 2015 forum will be held in Hawaii.
The Saskatoon forum will be held Aug. 24-25 next year at Teachers' Credit Union Place.
An international Indigenous music festival will also be held in conjunction with the business forum.