Ethiopia-Pakistan Financial Collaboration: Ambassador Jemal Beker Meets Finance Minister Aurangzeb

Islamabad - 1st August 2024 (Adnan Hameed): Ambassador Jemal Beker Discusses Financial Sector Collaboration with Finance Minister Jemal Beker Abdula, Special Envoy, Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan on Thursday called on Senator Muhammad Aurangzeb at his office. During the meeting, both sides discussed matters of mutual interest including bilateral cooperation in financial and banking sector in order to attract foreign direct investment from Pakistani side. On the occasion, Ambassador Jemal Beker briefed the Minister about home grown economic reforms undertaken by the Government of the FDR Ethiopia to attract foreign direct investment, increase its productivity and boost job creation in the country. The Ambassador said the Government of FDR Ethiopia had liberalized its economy allowing foreign investors to open businesses and take joint ventures which would eventually help build a robust economy. He informed the Minister that the Embassy of Ethiopia had mobilized, coordinated and organized two big business and trade delegation in last two years with participation of 75 and 80 members, respectively. Ambassador Jemal Beker said the two trade delegation to Ethiopia and one Ethiopian business delegation to Pakistan had given a major boost to the bilateral trade. However, the collaboration in financial and banking sector was crucial to further increase the volume of bilateral trade, he added. He informed the minister about recent visit of the State Minister of Finance of Ethiopia to Pakistan and his meeting with his predecessor for prospective collaboration in the financial sector of the two countries. On the other hand, the Minister welcomed the Ambassador at his office and appreciated the recently adopted second phase Home grown macroeconomic reform policy of the Government of Ethiopia under the leadership of Dr. Abiy Ahmed, Prime Minister of Ethiopia that will address macroeconomic imbalance, attract FDI, increase domestic productivity and job creation. The Minister said the Government of Pakistan had also initiated its home grown economic reforms stressing the need for learning from each other experiences in financial sector. He assured full support of the Government of Pakistan for promoting bilateral trade between the two countries by enhancing collaboration economic areas particularly in financial sector. The Minister called the Ethiopia Airlines a success story and a major instrument to connect Pakistan not only with Ethiopia but the entire Africa.