Daily Times

Pakistan and Ethiopia agreed to strengthen bilateral relations and explore new collaborations in trade, finance, education and economic reforms, acknowledging the mutual benefits that could be derived from such initiatives.

According to press release issued by finance ministry, Ambassador of the Federal Democratic Republic of Ethiopia to Pakistan, Jemal Beker Abdula on Minister for Finance and Revenue Senator Muhammad Aurangzeb.

The Finance Minister extended a warm welcome to Ambassador Abdula and provided an overview of the economic reforms currently underway in Pakistan. These reforms are part of a broader home-grown agenda aimed at achieving economic stability. The Minister highlighted recent positive developments, including improvements in foreign exchange reserves, state-owned enterprise (SOE) reforms, and advancements in the power sector.

International Rating agencies have started acknowledging the economic stability as a result of government’s economic decisions, he said adding country’s economic outlook has improved as confirmed by recent Fitch reports and now government aims at achieving economic sustainability. On the occasion, the ambassador appreciated Pakistan’s macroeconomic stability and shared insights on Ethiopia’s similar approach to home-grown economic reforms.

He detailed Ethiopia’s initiatives inspired by Pakistan’s experience, particularly in stabilizing its currency and fostering economic resilience. The discussion also encompassed the potential for enhanced bilateral trade and financial collaborations to foster mutual prosperity.

Ambassador Abdula proposed the exploration of educational cooperation, specifically the promotion of student exchange and scholarship programs. This initiative aims at providing Ethiopian students with opportunities to study in Pakistan, fostering educational and cultural ties between the two nations. Senator Muhammad Aurangzeb agreed on the importance of fostering deeper ties between the two nations and welcomed the proposed collaborations. They acknowledged the mutual benefits that can be derived from such partnerships and expressed commitment to further strengthening the bilateral relationship.