Pakistani business delegation to explore investment opportunities in Ethiopia

The historic Pakistani business delegation visit to Ethiopia to explore investment opportunities in the country is crucial to strengthen the bilateral relations between the two countries and attract investors to Ethiopia, Deputy Prime Minister and Foreign Affairs Minister Demeke Mekonnen said.

Ethiopian Investment Commission has organized a welcoming event to the Pakistani investment and trade delegation comprised of 71 business personalities.

On the occasion, Demeke said the delegation’s historic visit to Ethiopia is very important to strengthen the bilateral relations of the two countries and attract investors to Ethiopia.

“This high-level visit is really another important step to strengthen our bilateral relations,” Demeke said, adding that the relations are expected to diversify relations between governments, businesses, people-to-people levels and other actors among the two countries.

The visit is crucial to strengthen bilateral ties of the two countries in addition to attracting investment to Ethiopia, he added.

Pointing out that Ethiopia’s national and economic plans focus includes agriculture, manufacturing, mining and tourism, technology and innovation and the social sector, Demeke urged the delegation to visit various sectors and actors in the country in order to create business connection.

“It is very historic time to uplift our bilateral relations and to open up to all Pakistani investors, company owners, to invest here in Ethiopia,” he stressed.

Ethio-Pakistan relations have been strengthening in the past few years in different sectors, including political, economic, trade and investment, it was learned.

Pakistan Ambassador to Ethiopia, Shazab Abbas on his part said the relations between Ethiopia and Pakistan have been improving.

Abbas stated that he has been working hard to accelerate the existing level of economic relation between the countries and commence direct Addis Ababa-Karachi flights, and also to push Ethiopia to open diplomatic mission in Pakistan, and was successful in all.

According to him, the bilateral economic value which was about 30 million USD 2 and half years ago has risen to 75 million USD.

“When I come, it stood at about 30 million USD bilaterally, and now in 2 years and half time frame, it has rose up to 75 million USD,” Abbas said.

Ethiopian Airlines will begin its Addis Ababa- Karachi direct flight on May 2, 2023, the ambassador disclosed.

He also stated that Ethiopia has investment potentials for Pakistani investors in different sectors and urged the members of the delegation to explore the opportunities.

The ambassador mainly pointed out agriculture, energy, mines sectors in Ethiopia as great investment potentials for Pakistani investors taking into consideration the experiences of his country.

Members of the visiting delegation are engaged in agriculture, manufacturing, pharmaceutical, minerals, technology, health care and others.

The delegation is expected to visit investment projects and exchange views with pertinent government officials and members of the Ethiopian business community in the course of their five days visit in Ethiopia from Mach 5-10, 2023.

Source: ENA