Lahore: H.E. 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, which offers a comparative advantage in terms of important geographical location, cheap and clean energy and skilled workers. Human Resources.
Addressing a business forum on bilateral trade between Ethiopia and Pakistan at the Federation of Pakistan Chambers of Commerce and Industry in Lahore, the ambassador said his country is hosting the Invest Ethiopia conference from April 28 to 30 in Addis Ababa to showcase extraordinary investment opportunities. in Ethiopia.
According to H.E. Mr. Ambassador Jemal Beker, it was high time that the business community of Pakistan explored the lucrative market of Ethiopia, which was the gateway to the African continent of over 1.4 billion people.
He said Ethiopia is a signatory to the African Continental Free Trade Area Agreement, which means anything made in Ethiopia can be easily traded with the whole of Africa.
The ambassador highlighted the economic reforms implemented by the reforming government of Ethiopia to build the domestic economy to achieve robust and sustainable economic growth by creating an enabling environment for the business community and foreign investors.
He said as part of its economic reforms, Ethiopia has focused primarily on its five economic sectors, including agriculture and agro-processing, manufacturing, mining, information and communication technology (ICT) and tourism.
The government has set up a one-stop shop and introduced several incentives to attract foreign direct investment, he said, adding: “Don’t get your place wrong, Africa is a trade, business and investment destination in the 21st century.
Said H.E. Dr. Abiy Ahmed, the Prime Minister of Ethiopia, has charted the country on the path of progress and prosperity with his visionary reforms that have paved the way for Ethiopia to become the manufacturing hub of Africa.
The ambassador said Ethiopia produces cheap, clean and green energy, almost 98 percent of which comes from hydro and geothermal sources. “We export energy to Kenya, Djibouti, Sudan and other neighboring countries because our main objective is to promote regional integration by sharing our resources.”
Regarding efforts to increase the volume of trade between Ethiopia and Pakistan, he said the Ethiopian Embassy in Islamabad mobilized a 75-member trade delegation to Ethiopia last March to help connect the business community of the two countries.
“We are now planning a Hijra II trip to Ethiopia for businessmen and investors from Pakistan this May,” the ambassador said, urging the participants to register for the delegation by the end of April.
The ambassador also briefed the Pakistani business community on the export potential of various products to Ethiopia, including rice, pharmaceutical products, medical equipment, sporting goods and construction materials.
Likewise, Pakistan could import agricultural products such as coffee, tea, pulses, oilseeds and vegetables from Ethiopia.
FPCCI Vice President and Regional Chairman Zaki Aijaz also briefed the business community on Ethiopia’s business, trade and investment potential and recalled his visit to Ethiopia as part of a 75-member business delegation that went to Addis Ababa last year.
He also appreciated the role played by Ambassador Jemal Beker Abdula in promoting bilateral relations, including trade ties between the two countries.
