Pakistan needs to increase its footprint in Africa, especially Ethiopia

“To assist Pakistan in this regard, we have organised a 5-day trade delegation to Ethiopia which will fly to Addis Ababa on March 5,” the ambassador said during a briefing to members of the Faisalabad Chamber of Commerce and Industry on the political, economic and security situation of his country.  He said the trade delegation would include subsidized airfares and accommodation, business-to-business and government-to-business meetings as well as grand receptions and cultural nights hosted by the country’s leadership. The ambassador also informed the business community of Faisalabad that a delegation of the major group of companies-Arif Habib Ltd had visited Ethiopia recently and expressed keen interest in investing its fertilizer sector. 

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He explained them about the bilateral trade potential between Ethiopia and Pakistan in diverse sectors of economy including manufacturing, agriculture, construction, textile, technology, fertilizer, steel and pharmaceutical sectors. The ambassador said Ethiopia was the fastest growing economy in the world offering lucrative business, trade and investment opportunities with cheap cost of production including clean energy and skilled labour. “We have almost completed the largest Grand Ethiopian Renaissance Dam with 6,500MW capacity,” he said, adding his country had already been exporting energy to South Sudan, Djibouti and others.  Jemal Beker said the government of Ethiopia was supportive of the foreign investors as it has opened up its economy and encouraging private sector to take lead for development of the country. Multiple incentives and one-window services were among the other initiatives to attract foreign direct investment, he added.