Daily Times

Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan H.E. Jemal Beker Abdula on Thursday said Pakistan needed to increase its footprint in Africa especially Ethiopia which is a gateway to the continent of 1.4 billion people.

“To assist Pakistan in this regard, we have organised a 5-day trade delegation to Ethiopia which will fly to Addis Ababa on March 5,” the ambassador said during a breifing to members of the Faisalabad Chamber of Commerce and Industry on the political, economic and security situation of his country.

He said the trade delegation would include subsidized airfares and accommodation, business-to-busines and government-to-business meetings as well as grand receptions and cultural nights hosted by the country’s leadership.

“Donot mislocate yourself as this is right time to enter in Ethiopia which will connect you with the entire Africa ,” he remarked.

The ambassador also informed the business community of Faisalabad that a delegation of the major group of companies–Arif Habib Ltd had visited Ethiopia recently and expressed keen interest in investing its fertilizer sector.

He explained them about the bilateral trade potential between Ethiopia and Pakistan in diverse sectors of economy including manufacturing, agriculture, construction, textile, technology, fertilizer, steel and pharmaceutical sectors.

The ambassador said Ethiopia was the fastest growing ecconomy in the world offering lucrative business, trade and investment opportunities with cheap cost of production including clean energy and skilled labour.

“We have almost completed the largest Grand Ethiopian Renaissance Dam with 6,500 MW capacity,” he said, adding his country had already been exporting energy to South Sudan, Djibouti and others.

H. E. Jemal Beker said the government of Ethiopia was supportive of the foreign investors as it has opened up its economy and encourageing private sector to take lead for development of the country.

Multiple incentives and one-window services were among the other initiatives to attract Foreign Direct Investment, he added.

“We are heading to become an icon of Africa under the leadership of Prime Minister H.E. Dr Abiy Ahmed,” he maintained.

Deputy Commissioner for Investment Commission of Ethiopia Daniel Teressa said the government of Ethiopia was fully committed to facilitate the foreign investors and looked forward to investment from Pakistan in public and private sector. FCCI Senior Vice President Sajjad Arshad said Pakistan and Ethiopia could flourish together through strong bilateral relations.