Islamabad: Ethiopian Investment Commission (EIC) and Sialkot Chamber of Commerce and Industry have signed a Memorandum of Understanding to establish a consortium of companies related to sports goods, sportswear, leather goods in Ethiopia. Surgical instruments, gloves and work clothes.
The agreement was signed by the President of Sialkot Chamber, Mr. Abdul Gafur Malik, and H. E. Hanna Arayaselassie, Ethiopian Investment Commissioner.
H.E. Jamal Baker Abdullah, Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan and H.E. The signing ceremony was witnessed by Atif Sherif Mian, Ambassador of the Islamic Republic of Pakistan to Ethiopia.
This landmark agreement paves the way for the development of bilateral trade cooperation between the business communities of Pakistan and Ethiopia through joint ventures. The signing ceremony is an important step in developing stronger economic ties and exploring new investment opportunities between the two countries.
Speaking at the event, Ethiopia’s Investment Commissioner, Mrs Hanna Arayaselassi, said Ethiopia offers a favorable environment for investors as its government aims to attract foreign direct investment.
He assured the Sialkot chamber president that the Ethiopian government protects foreign investment and also facilitates foreign investors as much as possible.
Mr. Malik expressed enthusiasm for the partnership and said, “This agreement is an important step for deeper economic cooperation between Pakistan and Ethiopia. Strong economic growth, strategic location and favorable investment climate make it an attractive market for Pakistani businesses.
“The Ethiopian market is not only rich in natural resources, but also offers a growing labor force and a growing consumer market, making it an attractive hub for trade and investment,” said Malik.
The presence of the delegation of the Sialkot Chamber in Ethiopia is marked by several productive activities aimed at exploring various avenues of investment and strengthening economic relations.
The delegation attended several meetings with key stakeholders, including Ethiopia’s Ministry of Mines, where they experienced the Ethiopian Mineral Gallery and gained valuable insight into the country’s mineral resources and mining sector.
