Addis Ababa, Ethiopia (12 May 2023)
Pakistan’s Federal Minister for Commerce Syed Naveed Qamar has announced the launch of a B2B Barter Trade Policy and encouraged Ethiopian entrepreneurs to take advantage of it.
He addressed the Pakistan Ethiopian Business Forum, urging both private sectors to finalize business contracts and sign deals, while embassies should focus on easy business visa policies to strengthen bilateral trade ties.
The bilateral trade between Pakistan and Ethiopia is currently less than $100 million, which is negligible given the actual potential of both countries. According to The Nation, there is an opportunity for Pakistan to export textiles, rice, pharmaceuticals, chemicals, surgical & medical equipment, sports goods, and construction material to Ethiopia while importing many edibles from Ethiopia.
The federal minister praised the operations of Ethiopian Airlines and the initiative of establishing a direct flight from Addis Ababa to Karachi, which would improve connectivity and foster stronger relations between the two nations. Ethiopia’s Minister of State for Foreign Affairs, Misganu Arega, emphasized that Pakistani investors should explore Ethiopia for investment, as it is one of the fastest-growing economies in Africa.
The visit of the Ethiopian delegation to Pakistan as a follow-up to the Pakistan delegation to Ethiopia earlier this year is expected to open up new avenues of bilateral cooperation between the two countries.
Source: The Nation
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