ISLAMABAD-The Embassy of the Federal Democratic Republic of Ethiopia (FDRE) in Pakistan has announced that the House of the Peoples Representatives of FDRE has unanimously approved the bilateral trade agreement signed by the two countries on February 14, 2023 to boost bilateral trade.
The trade agreement was submitted by the Standing Committee of the House on Trade and Tourism to the Ethiopian Parliament for approval on the 8th regular meeting of the 3rd year of the House of the Peoples Representatives held the other day.
The bilateral trade agreement is aimed at boosting trade cooperation between the two countries for further strengthening the economic and commercial relations between Ethiopia and Pakistan.
Jemal Beker Abdula, Ambassador Extraordinary and Plenipotentiary of the FDRE in Pakistan, described approval of the agreement a major breakthrough in the bilateral relations of the two countries.
He said the landmark agreement would give a major boost to the bilateral trade that currently stands at over 80 million USD. It would pave the way for establishment of joint action committee on trade and establishment of strong institutional linkages between the two countries, he added. He congratulated the business community of Ethiopia and Pakistan over the signing of the agreement.
The ambassador said it was a welcoming news for business community of both the countries who had already explored each other lucrative markets through delegation exchange in the current year.
The new year will open a new chapter in the history of bilateral trade and hopefully, bolster business and trade activity between the two countries, he said, while recalling visit of over 70 businessmen and investors to Ethiopia in March and trip of over 50 Ethiopian businessmen to Pakistan in May this year. These developments coupled with commencement of the Ethiopian Airlines set the stage for the bilateral relations of Ethiopia and Pakistan to flourish and thrive in the changing global dynamism, the ambassador noted.