The diplomatic relationship and business cooperation between Ethiopia and Pakistan is flourishing following the opening of Ethiopia's embassy in Islamabad, a move spurred by policy and strategic reforms undertaken by the Ministry of Foreign Affairs (MoF).
Two Pakistani business delegations have visited Ethiopia, fostering expectations of substantial investment from Pakistan into Ethiopia. Pakistan, with its industrial base, and Ethiopia, with emerging markets and strategic location in East Africa, are well-positioned to benefit from mutual business cooperation, trade and investment.
Sectors such as agriculture, textiles, pharmaceuticals, and information technology have been identified as potential areas for collaboration.
In exclusive interview with The Ethiopian Herald, Pakistan Chamber of Commerce and Industry Pakistan-Ethiopia Business Council Chairperson Ibrahim Khalid said that Ethiopia would be destination for several Pakistani businesses in the future.
The environment, energy supply and human resource are encouraging factors that he witnessed during his visit in Ethiopia.
Industrial parks in Pakistan are not equally green and environmental friendly compared to the Ethiopian parks. "We are keen to search for further opportunities that Ethiopia can offer to investors," he said.
Every country has competitive advantages and Pakistani companies have good experience in textiles, pharmaceuticals, and agro-processing, the Chairperson said, declaring that all these sectors are potentially lucrative in Ethiopia.
The Pakistani companies can bring technology to utilize the resource and to be part of the industrial revolution happeninghere in Ethiopia, he noted.
He however said that thesebusinesseswill take time to research the overall environment. "We need to have trust and build confidence on the government and on the business environment. The policy and the administration (of the Prime Minister) are very positive, so companies are optimistic to invest in Ethiopia," he underscored.
The hospitality of the Ethiopian people and infrastructural facilities also make the country attractiveto investors, the Chairmanadded.
Ethiopian Ambassador to Pakistan, Jemal Beker also expressed his optimism on the burgeoning economic and business ties between the two nations.
The government of Ethiopia took rightsizing measures on embassies and opened embassy in Islamabad. The commitment on the side of Pakistanis is also surprisingly great. "We witnessed their interests' during the past ten business forums. Now, it is our turn to give them the confidence to invest in Ethiopia," he said.
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The visits by the business delegations demonstrates the mutual interest in leveraging each other's economic strengths. Ethiopia's investment opportunities, particularly in its industrial parks, are designed with the state-of-the-art techniques and technologies to attract foreign companies. The government is also implementing friendly policies, including the homegrown economic policy, he said.
"I think, all these measures have been well-received by the Pakistani delegations, who are seeing Ethiopia as a gateway to the African market," he remarked.
Ethiopia has a promising future as its cheap energy, and large human resource would benefit not only Pakistanis, but also other countries' business, he added.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD THURSDAY 30 MAY 2024
