Financial institutions urged to explore Ethiopia’s lucrative markets

ISLAMABAD: Jemal Beker Abdula, Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia, called on Caretaker Federal Minister for Finance, Revenue, and Economic Affairs Dr Shamshad Akhtar at Finance Division, Tuesday, said a press release issued on Tuesday.

During the meeting, both the dignitaries discussed matters of mutual interest i.e., connectivity, economic, financial and social cooperation.

Finance Minister Dr Shamshad Akhtar welcomed Jemal Beker Abdula and appreciated his expertise and knowledge about Pakistan. She said that there are multiple avenues for both countries to explore markets and investment opportunities. The finance minister reiterated the need for the early establishment of Joint Ministerial Commission between two countries. JCM would be a platform where a wide range of investment options and issues can be discussed to enhance bilateral relations and economic cooperation.

Jemal Beker Abdula stated that Ethiopia is an attractive market for Pakistani financial sector, agricultural, pharmaceutical and technological products.

He urged Pakistani financial institutions to explore Ethiopia’s potentially lucrative markets.

He extended an invitation to Pakistani banks to open their branches in Ethiopia to improve confidence among investors. He said that Ethiopia would like to replicate Islamic banking system of Pakistan through learning and financial exchange program. He said that confidence-building measures would be taken for Pakistani traders to enhance bilateral trade between the two countries.

The finance minister thanked Jemal Beker Abdula and said that Ethiopian financial experts can visit Pakistan to interact with the financial sector of Pakistan.

She also expressed the desire to further deepen bilateral trade and investment ties with Ethiopia.

Copyright Business Recorder, 2023