President SCCI Emphasizing The Potential For Enhanced Trade And Investment Between Pakistan And Ethiopia

SIALKOT, (UrduPoint / Pakistan Point News - 28th May, 2024) President Sialkot Chamber of Commerce and Industry (SCCI), Abdul Ghafoor Malik addressed the Ethio-Pakistan business Forum, emphasizing the potential for enhanced trade and investment between Pakistan and Ethiopia.

According to SCCI,the event was held in Addis Ababa attended by prominent figures including Minister for Trade and Regional Integration Gebremeskel Chala, Minister of State for Foreign Affairs Birtukan Ayano, Ethiopian Investment Commissioner Hanna Arayaselassie,President ECCSA Eng. Melaku Ezezew, Chairman Trade Development Authority of Pakistan Zubair Motivala, Ambassador of Ethiopia to Pakistan Jemal Beker and Ambassador of Pakistan to Ethiopia Atif Sharif.

President SCCI Abdul Ghafoor Malik highlighted Ethiopia's attractiveness as an investment destination due to its robust economic growth, strategic location and favorable investment climate.

President SCCI noted,"Ethiopia, with its rich history and large population, offers vast opportunities for Pakistani businesses seeking to explore new markets.

Boasting one of the fastest-growing economies in Africa,Ethiopia has sustained an impressive average GDP growth rate of around 10% over the past decade."

Malik also stressed the importance of addressing trade barriers and building closer business-to-business linkages to capitalize on the untapped potential.

He acknowledged significant steps such as the 2023 trade agreement offering a 10-years tax break to Pakistani investors,the initiation of direct flights and the establishment of the Ethiopian Embassy in Pakistan.

President Malik further remarked on the industrial prowess and vibrant SME culture of Sialkot,Pakistan known for high-quality products like sports goods,surgical instruments,workwear,gloves and leather products which hold considerable demand in Ethiopia and the African region.

The forum set the stage for fruitful B2B meetings, fostering a new era of collaboration and mutual growth. "I am confident that today’s forum will lead to long-term partnerships that benefit both our countries,"he concluded.