Ethiopia: Economic Ties Between Ethiopia, Pakistan On Upward Trajectory

Addis Ababa — The economic relationships between Ethiopia and Pakistan have been recently on an upward trajectory, State Minister of Foreign Affairs, Birtukan Ayano remarked.

The Ethio-Pakistan Business Forum that brought together more than 80 Pakistani businessmen and representatives from the Pakistan Chamber of Commerce as well as owners of renowned companies, held today in Addis Ababa.

Ethiopia's Minister of Trade and Regional Integration, Gebremeskel Chala, State Minister of Foreign Affairs, Birtukan Ayano and senior officials from various government institutions participated at the forum.

Speaking at the opening session of the forum, State Minister of Foreign Affairs, Birtukan Ayano highlighted the significant of the forum in enhancing economic partnership and strengthening relations between Ethiopia and Pakistan.

"I'm confident that this forum will be an ideal platform for promoting and deepening economic cooperation between our two nations and presenting business and investment opportunities for the business community," the state minister said.

Noting that Ethiopia and Pakistan have long-standing relationships in multifaceted spheres, Birtukan said this forum will further consolidate business to business relations.

She added that economic relationships between the two nations have been recently on an upward trajectory stating the existing cordial relation between Ethiopia and Pakistan contributes to a conducive atmosphere for the business to bloom and growth.

Moreover, she elaborated that Ethiopia remains committed in fostering and nurturing the existing relationship between the two countries and is readily available to tackle challenges as we explore new avenues of cooperation.

Explaining the conducive investment climate and the steadily growing demands of Foreign Direct Investment (FDI), she assured the delegation that there is an immense opportunity to invest in Ethiopia as investment has been prioritized in the nation's second-phase Homegrown Economy Reform program which is under implementation.

Ethiopian Minister of Trade and Regional Integration, Gebremeskel Chala said for his part the bilateral economic relations between Ethiopia and Pakistan have flourished, grounded in a mutual understanding and shaped a shared vision for the development.

Hence, "Our gathering here not only reflects the substantial economic potential before us, but also signals the onset of an era defined by strategic partnership and reciprocal prosperity between Ethiopia and Pakistan," he stated.

Moreover, the minister added that the government of Ethiopia has been undertaking deep and penetrating reforms that open up the market, address the structural problems and create a conducive environment for foreign direct investment.

He urged Pakistani companies to explore the myriad of business opportunities awaiting Ethiopia as well as the nation is rapidly emerging as an icon of investment and commerce in Africa.

"Pakistan's achievements in textiles, agriculture, pharmaceuticals, surgical, construction materials, and ICT are our particular inspiration as we chart our own course of economic diversification," the minister elaborated.

Pakistani Trade and Development Authority Chief Executive, Muhammed Zubair said on his part the delegation comprises about more than 40 percent people who have now come here again to Ethiopia, made the same visit last year to explore Ethiopia's business opportunities.

Those investors are convinced that Ethiopia is a preferable and important country for their business and investment, the chief executive underscored.

He said the delegation is here for a serious business and will be participating in all those meetings and engagements.

The delegation, comprising of 80 Pakistani investors and owners of renowned companies, are also expected to visit selected industrial parks and conduct business to business consultations with its Ethiopian counterparts during its six days of stay in Ethiopia.

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