EIC Makes Pitch For Pakistani Investors

EIC Makes Pitch For Pakistani Investors

• Business
• February 27, 2023

A delegation of the Ethiopian Investment Commission (EIC) made an official visit to Pakistan to promote opportunities as the two countries take steps to boost their trade and economic ties.

The visit comes after a growing number of Pakistani companies expressed their keen interest to engage in Ethiopia’s manufacturing sector.

Last month, officials of Pakistan’s Arif Habib Group and EIC discussed prospects of investing in the East African nation in Addis Ababa. Officials say the group, with $2.5 billion in net assets and a diverse range of investments, showed a strong interest in fertilizer, cement, and steel manufacturing in Ethiopia.

The agreement paves the way for the establishment of a joint trade committee and a joint business council in a bid to facilitate frequent and structured business-to-business interaction between the two countries.

The annual average trade exchange value of the countries in the past five years was about $71.8 million, of which Ethiopia’s export and import constituted $14.3 million and $57.5 million respectively.

Referance: Ethiopian Monitor (February 18)