Pakistan and Ethiopia are seeking to create official financial channels, increase commerce to at least $300 million, and otherwise expand their bilateral connections.
Ethiopia inaugurated its full-fledged embassy in Islamabad earlier this year, despite the fact that the two nations had established diplomatic ties 64 years earlier, in 1958.
Ethiopian Ambassador Jemal Beker Abdula declared during a press conference on Wednesday at the Karachi Press Club that “Ethiopian Airlines, the largest airline in Africa, is prepared to launch direct flights between Addis Ababa and Karachi.”
From late December 2022 or early January 2023, the airline is expected to begin direct flights between the two cities on two days each week.
At present, the bilateral trade value is nominal at $7 million to $8 million a year. “We have set a very ambitious target to increase trade to $300 million in the first year,” Abdula said. He revealed that Pakistan’s pharmaceutical products and medical equipment would be the two major import goods for Ethiopia. Besides, Pakistan can also export its textile products.
On the other hand, Ethiopia produces the best coffee in the world, which keeps “people very active throughout the day”, the envoy said. “It also produces high-quality tea, while Pakistan is one of the top tea importers in the world.”
Pakistan could also import agricultural products from Ethiopia, he pointed out. “We aim to produce clean energy equipment as well as Ethiopia produces 90.4% of clean energy, mostly from hydel projects.” The two nations’ main shared interests were in the fields of technology and innovation as well as the fight against climate change. He emphasized that they should work together to advance in those areas.
“Pakistan is set to open a bank branch in Ethiopia in the next two to three months,” announced Ethiopia Consul General Ibrahim Khalid Tawab. “We are holding meetings with Pakistani private banks these days,” he said.