Ethiopia’s state minister for foreign affairs, Redwan Hussain Rameto, announced that an ambassador has been appointed to Pakistan, and an embassy would be opened here soon, in order to strengthen commercial and economic ties between the two nations.
He said this, according to a news release issued on Friday while addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI). Ethiopia is considering offering visa-on-arrival services to Pakistani businesspeople so they can explore business opportunities in Ethiopia, according to Redwan Hussain Rameto.
He says that resuming flight services between Ethiopia and Pakistan was being considered in order to improve people-to-people ties and trade links. Ethiopia imports 80% of pharmaceutical products, according to him, and Pakistani pharma enterprises should form joint ventures in Ethiopia to suit its market demands and sell goods to African countries.
He says that Ethiopia is offering a 10-year tax holiday to investors in its special economic zones and that Pakistani investors should take advantage of the opportunity. He highlighted that pharmaceuticals, garments, textiles, cement, and ICT are among the primary areas of cooperation between Ethiopia and Pakistan.
At the ceremony, ICCI President Muhammad Shakeel Munir stated that Pakistan has adopted a Look Africa Policy to explore Africa for trade and exports and that close cooperation between Pakistan and Ethiopia will assist the country in gaining better access to the African market.
During his speech, he said that Pakistan manufactures high-quality surgical and pharmaceutical products, urging Ethiopia to reduce registration prices so that Pakistani pharmaceutical businesses might register in its market and sell their products to Ethiopia and other African countries more easily.
In addition, he said Pakistan could export many other commodities to Ethiopia, including marble & granite, cement, leather products, rice, and sports goods, he stressed that the opening of an Ethiopian embassy in Pakistan was essential for the advancement of trade and economic relations between the two countries.
According to Senior Vice President Jamshaid Akhtar Sheikh and Vice President ICCI Muhammad Faheem Khan, Pakistan and Ethiopia should explore negotiating a preferential or free trade agreement to boost trade relations to their actual potential.
Both countries should support regular trade delegation exchanges to examine all potential areas of mutual collaboration, they stated. Khalid Iqbal Malik, Chairman Founder Group, Mian Shaukat Masud, Zafar Bakhtawari, Zahid Maqbool, and Fatima Azim all spoke during the event and gave helpful suggestions to improve trade and economic relations between Pakistan and Ethiopia.