Investors will have more comfort and confidence in Ethiopian market for the investment climate will improve with the macroeconomic reforms, said Pakistan’s Ambassador to Ethiopia, Atif Sharif Mian.
Mentioning the relationship between Ethiopia and Pakistan as “cordial and friendly,” he said “Our relations are progressing well, with a positive momentum.”
He stated that the Ethiopia’s macroeconomic reforms facilitate better trade between the countries.
“I think now, with these reforms and with this market-based exchange rate and the IMF program; I think things will get better. The investors will have more comfort and more confidence in Ethiopian market.”
Amb. Sharif is hopeful that the recent macroeconomic reform of Ethiopia backed by IMF and other financial institutions as well as Pakistan’s anticipated IMF agreement, would improve liquidity and alleviate Forex deficit in their respective countries.
Ethiopia is one of the fastest-growing economies in Africa, and the Ethiopian government is taking commendable steps to reform its economy, he said, adding “I am optimistic that this growth will continue.”
Over the past two years, “I have witnessed a significant increase in Ethiopian business delegations visiting Pakistan for trade and exhibitions across various sectors, such as textiles, healthcare, food, engineering,” according to the ambassador.
Similarly, many Pakistani business delegations have come to Ethiopia to explore investment opportunities and this growing connection and knowing each other’s potential is promising, he elaborated, suggesting he would “inform Pakistani businesses about the investment opportunities in Ethiopia.”