Ethiopia invites pharma sector to form JVs

Envoy asks industry to meet African nation’s needs, export surplus to others

ISLAMABAD:

Ethiopian Ambassador Jemal Beker has expressed his country’s keen interest in promoting trade ties with Pakistan and invited Pakistani businessmen to explore the untapped Ethiopian markets to improve trade and exports.

“Ethiopia is keen to promote trade ties with Pakistan as increasing commerce will be very beneficial to the people and economies of both countries,” he said.

The envoy was speaking in a meeting with Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir during the latter’s visit to the Ethiopian embassy.

As Ethiopia was importing many products from China and India, it was an opportunity for Pakistan to focus on the Ethiopian market and improve its exports, he pointed out.

“Ethiopia is importing 80% of pharmaceutical products and Pakistani pharma sector investors should form joint ventures in Ethiopia to meet its market requirement and export the surplus to other African countries,” he suggested.

The envoy highlighted marble, pharmaceutical, textile and construction as potential areas of bilateral cooperation and invited ICCI to take a business delegation to Ethiopia in order to promote connectivity with the Ethiopian counterparts and explore avenues of business collaboration.

He proposed that ICCI should sign a memorandum of understanding (MoU) with the Ethiopian Chamber of Commerce to forge business linkages between private sectors of both countries.

Published in The Express Tribune, September 8^th, 2022.

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