Fostering economic ties between Pakistan and Ethiopia, Ambassador Jemal Beker Abdula unveiled an enticing offer for Pakistani industrialists during his visit to the Korangi Association of Trade and Industry (KATI).
According to KATI information on Thursday, Abdula declared a 10-year tax holiday for Pakistani investors venturing into Ethiopia, coupled with the liberty for manufacturers to not only export but also sell their goods in the local Ethiopian market.
Attended by a distinguished gathering including KATI President Johar Qandhari, Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim Mohamedi, Honorary Consul General of Ethiopia Ibrahim Tawab, Economic Counselor of Ethiopia Kakidan Tadesse Tizazu and former Presidents Gulzar Firoz, Masood Naqi, and Ehtishamuddin, the event highlighted the burgeoning potential for bilateral trade.
Abdula underscored Ethiopia’s strategic positioning as a gateway to Africa, presenting lucrative opportunities for Pakistani industrialists to expand their reach across the continent. With Ethiopia boasting 98% renewable and affordable energy, investors stand to benefit from minimized production costs and access to a market of 1.4 billion Africans.
Furthermore, Abdula announced an upcoming exhibition on May 26, set to convene Africa’s major manufacturers under one roof, offering investors in Ethiopia access to cost-effective electricity.
Expressing optimism about the prospects of enhanced trade relations, President KATI Johar Qandhari lauded Ethiopia’s warm reception of Pakistani trade delegations and urged the government to facilitate bilateral trade initiatives. Qandhari emphasized the need for direct flights between the two countries to bolster commercial exchanges.
KATI Deputy Patron-in-Chief Zubair Chhaya highlighted the favorable conditions for Pakistani investors in Ethiopia, including low-cost renewable energy and potential tax exemptions.
Honorary Consul General of Ethiopia Ibrahim Tawab echoed the sentiment, stressing the untapped opportunities in Ethiopia’s market of 130 million people and advocating for duty-free facilities and tax incentives for Pakistani industrialists.