Pakistan is keen on expanding its trade relations with Ethiopia and Africa in the coming few years, says Zubair Motiwata, Chief Executive of the Trade and Development Authority of Pakistan.
The Chief Executive made the remark during a side event discussion at the Ethiopia-Pakistan Business Forum between the Ethiopian government’s high-level business delegation and Pakistani counterparts.
Ethiopia is a gateway, said Zubair, to Pakistan’s vision of strengthening its existing trade and investment relations with Africa.
He assured that Pakistan, with better-quality products at a competitive price, will expand its trade with Ethiopia in the coming few years.
The start of Ethiopian Airlines’ direct flight to Karachi marked today as a historic day between the two countries’ diplomatic relations, he pointed out.
State Minister of foreign affairs of Ethiopia, Mesganu Arga explains the policy and practices of doing business in Ethiopia and the comparative advantages of the country for investment.
He remarks that the Federal Government of Ethiopia has undertaken a number of policy reforms in the past five years to increase foreign direct investment inflows.
Ethiopia is looking for more investment from Pakistan and wants to boost its trade volume, added the State Minister.
During the occasion, the chambers of commerce of the two countries signed a memorandum of understanding to work together in trade and investment, according to Ministry of Foreign Affairs.
After a hiatus of nearly two decades, Ethiopian Airlines restarted service to Pakistan this week. With 110 passengers on board, the flight arrived in Karachi on Monday.
It is to be recalled that more that 80 Pakistani investors had conducted a visit last March to explore business and investment opportunities in Ethiopia.
Source: Ethiopian News Agency