ISLAMABAD: Federal Minister for Commerce Syed Naveed Qamar has said that Pakistan is going to launch a B2B Barter Trade Policy and Ethiopian entrepreneurs should take advantage of it to improve trade with Pakistan
Federal Minister for Commerce Syed Naveed Qamar said that Pakistan is a potential market for foreign sectors and urged that the Ethiopian business delegation should explore Pakistan for JVs and investment. He said that Pakistan’s Look Africa policy would cover the whole of Africa to improve business relations with it. He stressed that private sectors of both countries should finalize business contracts and sign business deals. He stressed that the embassies of both countries should focus on easy business visa policies to strengthen bilateral trade ties.
He was addressing at the Pakistan Ethiopian Business Forum organized by the Islamabad Chamber of Commerce and Industries. Syed Naveed Qamar, Federal Minister for Commerce, and Misganu Arega, Minister of State for Foreign Affairs of Ethiopia, were the chief guests. Fauzia Amin, Minister of State for Innovation & Technology, and other dignitaries were also present on the occasion.
During his address, the federal minister commended the initiative of establishing a direct flight from Addis Ababa to Karachi, as it would greatly contribute to enhancing connectivity and fostering stronger relations between the two nations. Additionally, he praised the operations of Ethiopian Airlines, which currently serves around 117 destinations. He acknowledged the dynamic role played by the Ethiopian ambassador in bridging the business communities of both countries. Federal Minister highlighted Pakistan’s potential as a market for foreign sectors and encouraged the Ethiopian business delegation to explore joint ventures and investments in Pakistan.
Misganu Arega, Minister of State for Foreign Affairs of Ethiopia, said that Ethiopia attaches great importance to promoting business relations with Pakistan. He said that Ethiopia is the fastest growing economy in Africa and has made a 10 years economic development plan. He emphasized that Pakistani investors should explore his country for investment. He said that the direct flights of Ethiopian airline with Pakistan would contribute to improve B2B and P2P relations between both countries. He said that the delegation has found Pakistan a heaven for commercial and manufacturing activities.
Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce & Industry, said that the bilateral trade between Pakistan and Ethiopia is less than $100 million, which is negligible given the actual potential of both countries. He said that Pakistan can export many products to Ethiopia including textiles, rice, pharmaceuticals, chemicals, surgical & medical equipment, sports goods and construction material. Similarly, Pakistan can import many edibles from Ethiopia. He hoped that the visit of the Ethiopian delegation to Pakistan as a follow up of the Pakistan delegation to Ethiopia in March this year would open up many new avenues of bilateral cooperation between both countries.
Jemal Beker Abdula, Ambassador of Ethiopia to Pakistan, reiterated that they would continue to play a role for further improving business relations between both countries. Ibrahim Khalid Tawab, Ethiopia’s Honorary Consul General to Pakistan, also highlighted the importance of promoting bilateral trade between both countries. Faad Waheed, Senior Vice President ICCI, said that Pakistan and Ethiopic should increase industrial cooperation for mutual benefit.
Engr. Azhar ul Islam Zafar, Vice President ICCI, highlighted the investment potential in the real estate and construction sector of Pakistan for Ethiopian investors. Khalid Iqbal Malik, Group Leader, informed the delegation about the export potential of Pakistani mangoes, citrus and investment potential in Pakistan’s special economic zones. Zafar Bakhtawari, former President and Secretary General UBG, said that Ethiopia is the second largest country in terms of population and third largest economy in Africa while its airline is the second largest airline, so Pakistan would achieve beneficial results for its economy by developing close cooperation with it
