ADDIS ABABA- Ethiopia’s business relations and economic cooperation with Pakistan is on an upward trajectory, signaling promising future prospects, according to Ministry of Foreign Affairs (MoFA).
During the discussion with Pakistani business delegation yesterday, MoFA State Minister, Ambassador Birtukan Ayano highlighted the strengthening diplomatic relationship between Ethiopia and Pakistan.
Ethiopia is among the world countries that have top performance in enduring sustainable economic development and has been one of the fastest growing economies for the past two decades, she said.
The national foreign policy reform has helped the country to attract more foreign direct investment, experience growing tourist flow, and speedy financial and technological development, according to the State Minister.
“The foreign direct investment is growing at the highest rate. I can assure you that Ethiopia is a land of opportunities,” she stressed.
Ambassador Birtukan emphasized that Ethiopia, with its significant investment and economic opportunities can greatly benefit Pakistani businesses.
The homegrown economic reform which is now on the second implementation phase is further encouraging foreign investors to participate in sectors such as manufacturing, construction, and agriculture, she stated.
The government unveiled the ten-year plan to make Ethiopia beacon of Africa’s prosperity, she said, adding that new frontier economic sectors have also been redefined having digital economy, tourism, science and technology amongst priorities that foreign businesses can make investments.
Trade and Regional Integration Minister, Gebremeskel Chala has reiterated Ethiopia’s commitment to expanding trade cooperation.
He mentioned that the recent ratification of the bilateral business and economic agreement by the parliament is a clear testament to this commitment.
Gebremeskel further stated that the government will continue providing incentives for foreign and domestic investors engaging in agriculture and agro-processing, manufacturing, tourism, mining, and ICT. The government needs to rewrite the trade and investment relation with countries through making new relations with countries like Pakistan, according to him.
Pakistani Trade and Development Authority Chief and leader of the delegation, ZubairMotiwala expressed appreciation for the Ethiopia’s dedication to strengthening the bilateral relationship.
Ethiopia is a green country with 95 percent renewable energy. Pakistan is also on the right position to invest in different sectors including agriculture, he stated.
Government officials and ministers from MoFA, Ministry of Trade and Regional Integration, Industrial Parks Development Corporation, and the Investment Commission have discussed onopportunities of economic cooperation with the Pakistani delegation.
BY YESUF ENDRIS
The Ethiopian Herald May 28/2024
