Ethiopia, Pakistan trade agreement to take bilateral relations to new level, Says Minister

Addis Ababa, November 29, 2023 (FBC) – The trade agreement signed between Ethiopia and Pakistan in February, 2023 would enhance the bilateral relationship between the two countries to a new level, according to Trade and Regional Integration Minister Gebremeskel Chala.

The minister made the remark at a discussion the House of People’s Representatives Trade and Tourism Affairs Standing Committee held with stakeholders.

A draft proclamation on trade agreement between Ethiopia and Pakistan is tabled to the House for approval, it was learned.

Explaining the importance of the agreement, Trade and Regional Integration Minister Gebremeskel Chala said the agreement came following a strong commitment from both sides to enhance trade and economic cooperation between the countries.

The agreement signed between the countries is based on a study conducted to see the potential market that takes into account the benefits of the countries.
The minister, who noted the growing relationship between Ethiopia and Pakistan, added that the agreement is important to further enhance cooperation in the field of economic diplomacy.

Moreover, Gebremeskel said the agreement would also correct the trade imbalance between the two countries, in addition to reducing trade barriers.
He stressed the need on Ethiopia’s part in particular to work hard to increase volume and quality of exportable products.

International Law Affairs Director-General at the Ministry of Foreign Affairs, Reta Alemu said on his part such agreements would play an important role in enhancing the export trade of Ethiopia.

According ENA, the agreement is beneficial for both countries so as to pave the way for promoting mutual trade.

Trade and Tourism Affairs Standing Committee Chairperson Asha Yahya said the necessary inputs have been collected to enrich the draft document and it will be approved soon.

The agreement is expected to create a conducive environment for the business communities of the two countries to have information on business opportunities, organize trade promotion programs, and explore trade potentials.