Envoy Urges Pakistani Businesses To Seize Investment Opportunities In Ethiopia

Jemal Beker Abdula, Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan, on Friday, urged the Pakistani business community to invest in Ethiopia offered a comparative advantage in the form of important geographical location, cheap and clean energy and skilled human resource.

Addressing a Business Forum on Ethiopia-Pakistan Bilateral Trade at the Federation of Pakistan Chambers of Commerce & Industry, Lahore, the ambassador said his country was hosting the Invest Ethiopia Conference from April 28-30 in Addis Ababa to showcase extraordinary investment opportunities in Ethiopia.

According to Ambassador Jemal Beker, it was high time for the business community of Pakistan to explore the lucrative market of Ethiopia which was a gateway to the African continent of more than 1.4 billion people.

He said Ethiopia was a signatory to the African Continental Free Trade Area Agreement which means that whatever was produced in Ethiopia could easily be traded to all entire Africa.

The Ambassador highlighted the economic reforms carried out by the reformist Government of Ethiopia to build a homegrown economy to achieve robust and sustainable economic growth by creating an enabling environment for the business community and foreign investors.

He said under its economic reforms, Ethiopia had laid a major focus on its five economic sectors including agriculture and agro-processing, manufacturing, mining, Information and Communication Technology (ICT), and tourism.

He said Abiy Ahmed (PhD), Prime Minister of Ethiopia, had charted the country on the path of progress and prosperity with his visionary reforms paving the way for Ethiopia to become a manufacturing hub of Africa.

The Ambassador said Ethiopia was producing cheap, clean, and green energy close to 98 percent from hydro and geothermal sources. “We are exporting energy to Kenya, Djibouti, Sudan, and other neighboring countries since our prime focus is to foster regional integration by sharing our resources.”

As regards the efforts to boost trade volume between Ethiopia and Pakistan, he said the Embassy of Ethiopia in Islamabad last year in March mobilized a 75-member trade delegation to Ethiopia that helped connect both countries’ business communities.

“Now, we are planning Hijra Trip II to Ethiopia for the traders and investors of Pakistan this year in May,” the ambassador said, exhorting the participants to register themselves for the delegation before the end of April.

The Ambassador also briefed the Pakistani business community about the export potential of different products to Ethiopia including rice, pharmaceutical products, medical equipment, sports items, and construction material.

Likewise, Pakistan could import agricultural products such as coffee, tea, pulses, oilseeds, and vegetables from Ethiopia.

Vice President of FPCCI and Regional Chairman Zaki Aijaz also informed the business community about Ethiopia’s business, trade, and investment potential while recalling his visit to Ethiopia as part of the 75-member business delegation that went to Addis Ababa last year.

He also lauded the role played by Ambassador Jemal Beker Abdula for advancing bilateral relations including trade ties between the two countries.

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