Ethiopia, Pakistan vow to employ untapped potential to strengthen Business ties

Addis Ababa, February 23, 20202 (FBC) –  State Minister of the Ministry of Foreign Affairs, Ambassador Redwan Hussein had a series of meetings with the Office of the Prime minister of Pakistan Board of Investment, the chamber of Commerce of Islamabad, Company CEOs in Pakistan, and representatives of The Center for Institute of Strategic Studies Islamabad (ISSI).

Islamabad’s Chamber of Commerce and Industry expressed the interest of its members to do business with Ethiopian businesspeople and cooperate with the Ethiopian Chamber of Commerce and Sectoral Associations.

The chamber has shown great interest to work with the Ethiopian Business community to import and export different products and on Joint ventures while requesting for options for the issuance of visas on arrival to Pakistan’s businesspeople.

Ambassador Redwan, on his part, said a visa on arrival would be considered and a direct flight of Ethiopian Airlines to Karachi was also under process.

Ambassador Redwan further described the investment opportunities in Ethiopia, among others in agriculture, pharmaceutical, manufacturing, Agro-processing, textiles and leather sectors.

He also explained the development of industrial parks by the government to make investing in Ethiopia more attractive to foreign investors.

Ethiopia imports mainly sugar products, rice, packaging bags, and medical supplies from Pakistan while exporting cereals, tea leaves, spices, and textiles to Pakistan.

During the discussion with members of the Board of Investment (BOI), the Chairman, Muhammad Azfar Ahsan stressed that Pakistan considers Ethiopia to be one of the centerpieces of its Engage-Africa initiative, while Ethiopia can come to rely on Pakistan as a trusted all-weather partner in the Global South.

Ambassador Redwan pointed out that Ethiopia is set to establish its permanent Mission in Pakistan soon and underscored the need to set a regular mechanism of interaction between business associations and chambers of the two countries.

The Chairman of BOI finally invited Ethiopian investors to participate in Pakistan Investment Summit scheduled to be held on 30th – 31st March 2022.

In related news, the Ethiopian delegation had also a meeting with the leaders of the Centre for Institute of Strategic Studies Islamabad (ISSI).

The meeting noted that Ethiopia and Pakistan have a mutual interest to develop economic and trade ties by employing the untapped potentials of the two countries.

Their discussion included the need to create academic and institutional collaboration with think tanks and academia in the two countries.