Pakistani investors who are engaged in the pharmaceutical industry express their interest to invest in Ethiopia. A delegation of representatives of companies based in Pakistan led by the President of Islamabad Chamber of Commerce and Industry Ahsan Zafar Bakhatawari held a meeting with Ethiopia’s Ambassador to Pakistan, Jemal Beker Abdula.

Ambassador Jemal Beker briefed the delegation about the pharmaceutical sector in Ethiopia. He also revealed that a business delegation from Pakistan would visit Ethiopia for five days between March 05 and March 10, 2023.

Business ties between Ethiopia and Pakistan have been growing in the past years. In February, 2022, Islamabad’s Chamber of Commerce and Industry expressed its interest to conduct business with Ethiopian investors and collaborate with the Ethiopian Chamber of Commerce and Sectoral Associations during a meeting with Ambassador Redwan Hussein who was the State Minister of the Ethiopian Ministry of Foreign Affairs at the time.

As an indication of the increased engagement between the two countries, Ethiopia established its Embassy in Pakistan in 2022. Ethiopia and Pakistan have also agreed to strengthen their relationships in several sectors. In this regard, Ethiopian Airlines started operating direct flights between Addis Ababa and Karachi in December 2022.

Ethiopia exports cereals, tea leaves, spices, and textiles to Pakistan while importing sugar products, rice, packaging bag, and medical supplies from Pakistan. The current annual trade value between Pakistan and Ethiopia is estimated to be between USD 7 million and USD 8 million. The countries have set a target to increase this trade value to USD 300 million per year.

Source: Ethiopian News Agency, Walta Media and Communication Corporate, Fana BC

Image source: Ethiopian News Agency