ISLAMABAD (Agencies): Federal Minister for Commerce, Syed Naveed Qamar, emphasized the significance of barter trade systems to enhance bilateral trade volume between Pakistan and Ethiopia.
He was addressed at the Pakistan Ethiopian Business Forum organized by the Islamabad Chamber of Commerce and Industries.
Minister Commerce, alongside Misganu Arega, the Minister of State for Foreign Affairs of Ethiopia, graced the event as chief guest. Fauzia Amin, the Minister of State for Innovation & Technology, and other distinguished dignitaries were also present.
During his address, the Federal Minister commended the initiative of establishing a direct flight from Addis Ababa to Karachi, as it would greatly contribute to enhancing connectivity and fostering stronger relations between the two nations. Additionally, he praised the operations of Ethiopian Airlines, which currently serves around 117 destinations. He acknowledged the dynamic role played by the Ethiopian Ambassador in bridging the business communities of both countries.
The Federal Minister highlighted Pakistan’s potential as a market for foreign sectors and encouraged the Ethiopian business delegation to explore joint ventures and investments in Pakistan.
He emphasized Pakistan’s Look Africa policy aimed to strengthen business relations with the entire African continent. Minister Qamar announced that Pakistan is set to launch a B2B Barter Trade Policy and encouraged Ethiopian entrepreneurs to take advantage of this opportunity to enhance trade ties with Pakistan.
Syed Naveed emphasized the importance of the private sector of both countries finalizing business contracts and signing deals. Furthermore, Minister Qamar stressed the need for easy business visa policies and urged the embassies of Pakistan and Ethiopia to focus on facilitating such measures, which would further strengthen bilateral trade ties.
Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce & Industry, expressed his concern over the bilateral trade volume between Pakistan and Ethiopia, which currently stands at less than $100 million.
He stated that this amount is negligible considering the true potential of both countries.
Bakhtawari identified various products, including mangoes, textiles, rice, pharmaceuticals, chemicals, surgical and medical equipment, sports goods, and construction materials, that Pakistan could export to Ethiopia.
Bakhtawari expressed optimism that the visit of the Ethiopian delegation to Pakistan, following Pakistan’s delegation to Ethiopia in March of the same year, would open up new avenues of bilateral cooperation between the two nations.
Ambassador Jemal Beker Abdula of Ethiopia and Ambassador Shozab Abbas, Pakistan’s Ambassador to Ethiopia, reiterated their commitment to enhancing business relations and continuing their roles in further strengthening ties between the two countries.