Banking links sought with Ethiopia

FinMin, Ethiopian envoy also discuss energy, fertiliser risks and air connectivity

ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and Ethiopia's Ambassador Extraordinary and Plenipotentiary to Pakistan Dr Oumer Hussein Oba discussed improving financial and banking connectivity between the two countries to support greater trade and investment flows, at a meeting that also covered energy and fertiliser supply risks and air links.

The ambassador highlighted the importance of closer cooperation between the banking sectors, according to a statement issued on Monday. He was accompanied by Minister Counsellor Melaw Getachew and Political Diplomacy In-charge Kalkidan Tadesse.

The minister briefed him on reforms under way in Pakistan aimed at lasting economic stability and investment-led growth, and both sides discussed sharing development experience given similarities in their economic structures.

Discussions covered bilateral trade and investment, regional and global economic developments, and the implications of ongoing conflicts for energy supplies, fertiliser availability and food security, including risks to agricultural production and economic activity. The two sides also discussed air connectivity between Pakistan and Ethiopia and its role in strengthening commercial and people-to-people links.

The minister reaffirmed Pakistan's interest in strengthening economic relations with Ethiopia, and both sides expressed commitment to continued engagement on trade, investment, financial cooperation and connectivity. They underscored the potential for sharing experiences and strengthening cooperation to support economic growth. Matters of mutual interest, including connectivity and trade, were also discussed.