LAHORE: Ambassador Extraordinary and Plenipotentiary of Ethiopia to Pakistan, Jemal Beker Abdula has called upon the Pakistani business community to invest in Ethiopia.
He made the remarks while addressing a Business Forum on Ethiopia-Pakistan Bilateral Trade at Federation of Pakistan Chambers of Commerce & Industry in Lahore on Friday.
The ambassador said his country was hosting the Invest Ethiopia Conference from April 28-30 in Addis Ababa to showcase investment opportunities in Ethiopia.
He said Ethiopia offers comparative advantage in form of important geographical location, skilled human resource and cheap and clean energy.
Jemal Beker strongly believed it was a high time for the Pakistani business community to explore the market of Ethiopia which is a gateway to Africa.
He noted that Ethiopia was a signatory to the African Continental Free Trade Area Agreement which means anything produced in Ethiopia could be easily traded to the entire African continent.
The Ambassador emphasized the economic reforms carried out by the reformist Government of Ethiopia to strengthen a home-grown economy.
He said Ethiopia had laid a major focus on its five economic sectors including agriculture and agro-processing, manufacturing, tourism, mining and Information and Communication Technology (ICT).
Africa an investment destination of 21st century
Jemal Beker went on to say the government of Ethiopia had set up a one-window facility to attract direct foreign investment, adding that Africa is the business, trade and investment destination of the 21st century.
He said Prime Minister of Ethiopia. Dr. Abiy Ahmed, had charted the country on the path of progress and prosperity with his visionary reforms easing the way for Ethiopia to become an investment hub of Africa.
The Ambassador said Ethiopia was producing cheap, clean and green energy close to 98% from hydro and geothermal sources. He added that the country is exporting energy to Kenya, Djibouti, Sudan and other neighboring nations.
He noted the Embassy of Ethiopia last year in mobilized a 75-member trade delegation to Ethiopia that helped to connect business community of both the countries.
Jemal Beker said that country is now planning Hijra Trip II to Ethiopia for the traders and investors of Pakistan this year in May.
The Ambassador also briefed Pakistani businessmen about export potential of different products to Ethiopia including rice, sports items, pharmaceutical products, medical equipment, and construction material.
He said Pakistan could import pulses, oilseeds, tea, coffee, and vegetables from Ethiopia.
Vice President of FPCCI and Regional Chairman Zaki Aijaz also briefed the Pakistani business community about trade, business and investment potential of Ethiopia.
He also praised the role played by Ambassador Jemal Beker Abdula for advancing ties between the two countries.
