FAISALABAD: Pakistani banks should establish their branches in Addis Ababa to handle business related transactions, said Jemal Beker Abdula, ambassador of the Federal Democratic Republic of Ethiopia.
Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), he assured that the Ethiopian government would provide all facilities to facilitate businesses and give a quantum jump to bilateral trade.
He said that establishing a banking channel is a challenge for him as this instrument would prove a game changer for the promotion of bilateral trade in addition to helping Pakistani exporters to sneak into the virgin African markets.
He said that Karachi and Lahore have been linked with Addis Ababa through Ethiopian Airlines; while flights from Faisalabad and Sialkot would also be started very soon.
He said that Ethiopia is producing 98% green energy which is also being exported to the three neighboring countries. He said that the literacy rate in Ethiopia is 75-80% while women are also contributing their productive role in almost all segments of life. He said that special arrangements have been made at the university level to produce educated and skilled human resources. He said that for the subject of engineering 70% of the syllabus is related to this topic while the remaining 30% cover all remaining subjects.
He said that a separate ministry of labor and skill was created in 2018 and 1500 vocational institutes are also operating to provide sector specific skills to cater to the immediate needs of the industry. He said that the land of Ethiopia is directly linked with the humans of prehistoric age while the Nile River also originates from this country.
Jemal appreciated the role of FCCI in promoting bilateral trade between Pakistan and Ethiopia. He said that Ethiopia was never colonized and its economy is most resilient with a growth rate of 10%.
He said that Ethiopia has ten industrial parks where all types of industry could be established. He termed Ethiopia as the mother of Africa and said that there was no discrimination between the white and black. He said that Ethiopia is also a land of quality coffee which is consumed all over the world. He said that Ethiopia is actually a gateway to Africa as all other African countries could be easily accessed through Addis Ababa.
He also mentioned Hazrat Bilal Habshi. He said that through Ethiopian Airlines any destination is just at a distance of a few hours. He said that the air flight from Pakistan to Addis Ababa takes only four hours. He particularly mentioned the trade delegation of last year and said that another delegation was in the pipeline in which Faisalabad would have maximum representation.
He said that investors from Faisalabad could establish any type of industry including textile as abundance of cotton was available there. He said that the surplus products could be exported from Ethiopia to the EU and other countries without any duties or taxes.
About the delegation, he said that its visit is scheduled from May 26-31 and during this visit participants could not only interact with their Ethiopian counterparts but also discuss issues with the concerned government officials.
He said that a Bilateral Trade Agreement (BTA) has already been signed and businessmen should avail from it. Two documentaries were also screened about the investment opportunities in Ethiopia.
Copyright Business Recorder, 2024