Pakistan and Ethiopia have expressed commitment to further strengthening the bilateral relationship for enhancing bilateral trade and financial collaborations.

The understanding to this effect reached during a meeting between Minister for Finance and Revenue Senator Muhammad Aurangzeb and Ambassador of the Federal Democratic Republic of Ethiopia to Pakistan Jemal Beker Abdula here in Islamabad on Thursday.

The Finance Minister extended a warm welcome to the Ambassador and provided an overview of the economic reforms currently underway in Pakistan. He said these reforms are part of a broader home-grown agenda aimed at achieving economic stability.

The Minister highlighted recent positive developments, including improvements in foreign exchange reserves, state-owned enterprise (SOE) reforms and advancements in the power sector.

He said international rating agencies have started acknowledging the economic stability as a result of Government’s economic decisions.

The Minister also highlighted that country’s economic outlook has improved as confirmed by recent Fitch reports and now government aims at achieving economic sustainability.

The Ethiopian Ambassador praised and appreciated Pakistan’s macroeconomic stability and shared insights on Ethiopia’s similar approach to home-grown economic reforms.

He detailed Ethiopia’s initiatives inspired by Pakistan’s experience, particularly in stabilizing its currency and fostering economic resilience.

He also proposed the exploration of educational cooperation, specifically the promotion of student exchange and scholarship programs.

This initiative aims at providing Ethiopian students with opportunities to study in Pakistan, fostering educational and cultural ties between the two nations.

On the occasion, the Minister agreed on the importance of fostering deeper ties between the two nations and welcomed the proposed collaborations.