Latest news with #SingleCountryExhibition
Express Tribune
28-04-2025
- Business
- Express Tribune
Ethiopia seeks strong trade ties
A recent study ranks Pakistan as having the second-highest tariff cascading structure globally, after Egypt. photo: file Ambassador of the Federal Democratic Republic of Ethiopia, Dr Jemal Beker Abdula, while emphasising the need to further strengthen trade and investment ties between Ethiopia and Pakistan, invited Karachi's business community to use Ethiopia as a gateway to the vast African market of 1.5 billion people. Businesses operating in Ethiopia also enjoy duty-free and quota-free access to the European Union and the United States of America, which is an additional lucrative opportunity for foreign investors. Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the envoy invited KCCI members to participate in "Invest in Ethiopia 2025," scheduled for May 1213, 2025, followed by Pakistan's Single Country Exhibition from May 1517, 2025. Ethiopian Airlines will offer a 12% discount to visitors attending these events, while affordable hotel accommodations are also available, he revealed. Highlighting the importance of the upcoming events, Dr Abdula said the "Invest in Ethiopia" conference will attract investors, policymakers, and supply chain stakeholders from across the globe, providing an ideal platform for partnerships, connectivity, and networking. He elaborated that a large number of participants have already confirmed their attendance at the Single Country Exhibition as well, which will showcase a wide range of Pakistani products to Ethiopian and African markets. The ambassador said Ethiopia has become one of Africa's leading tourist destinations. Post-Covid, Ethiopia recorded a 40% increase in tourist arrivals, thanks to its peaceful environment and rich historical attractions. Dr Abdula said Ethiopia and Pakistan have enjoyed nearly 70 years of diplomatic relations. "We highly appreciate the government of Pakistan's 'Look Africa and Engage Africa' policy, encouraging businesses to enter and operate in Africa which can be done through Ethiopia, the true gateway to Africa." He highlighted that Ethiopia is no longer a landlocked nation but a land-linked country, with 95% of its imports and exports channelled through the Djibouti rail network, with a transit distance of six hours. The country is among the world's fastest-growing economies, with a current GDP of $400 billion and having recorded an 8.2% GDP growth last year, the envoy said. Highway network disruption Meanwhile, industry leaders have called for ending prolonged protest sit-ins and road blockages on national highways and main roads against new and controversial canals on the Indus River. Business leaders, including Ismail Suttar, Founder Salt Manufacturers Association of Pakistan (SMAP) have fretted about the worst situation on roads in Sindh. The disruption of transportation routes is devastating, especially during Pakistan's ongoing economic crisis. Karachi's port operations have been severely affected, with thousands of trucks and lorries stranded along main transportation routes. This standoff is causing mounting holding and transportation costs for manufacturers, while fears grow that tonnes of edible supplies may spoil, further straining the supply chain. "Our industries are always the first to suffer during unrest. Sindh and Punjab are industrial powerhouses, heavily reliant on each other for raw materials and market supply. Disrupting their link is not just a regional problem - it's a national economic threat," Suttar said.
Business Recorder
25-04-2025
- Business
- Business Recorder
Ethiopian Airlines: Pakistan's ‘Look Africa Vision' can be advanced: envoy
KARACHI: Ethiopia's Ambassador to Pakistan, Jemal Beker Abdula has said that global conditions are rapidly changing, which will have a direct impact on trade and economic relations. He said that Ethiopia is now at a significant economic turning point, with its GDP growing rapidly. However, challenges related to currency and the black market still exist. "We are providing sustainable energy at a rate of just 0.03 cents per unit," the ambassador noted, adding that the Pakistani media has played a vital role in promoting bilateral relations between Pakistan and Ethiopia. He emphasized that Ethiopia is the land to which the first migration in Islam was made on the instruction of the Holy Prophet Muhammad (PBUH). He made these remarks while addressing members at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) on Thursday. The Ethiopian Ambassador highlighted that Pakistan's "Look Africa Vision" can be advanced through Ethiopian Airlines. He shared that after launching flights from Karachi, the airline will soon begin operations from Lahore and Islamabad as well. He added that Ethiopia offers some of the best tourist destinations in the world. FPCCI Senior Vice President Saqib Fayyaz Magoon said that both Pakistan and Ethiopia are geographically important countries, and they must capitalize on their strategic locations. He pointed out that the current trade volume between the two nations stands at only $71.4 million, but it has the potential to increase tenfold. He further said that Pakistan can export textiles, leather, pharmaceuticals, and other products to Ethiopia, but challenges remain in terms of banking channels. He emphasized the importance of business meetings to foster trade and announced that FPCCI and TDAP are organizing a Single Country Exhibition in Ethiopia. He also called for the need to sign Free Trade Agreements (FTAs) with Ethiopia. Honorary Consul General of Ethiopia Ibrahim Tawab said that recent financial reforms in Ethiopia have significantly changed the country's economic landscape. 'We must realize that Africa is becoming a vital market,' he said. Ethiopia has an import bill of $17 billion, and Pakistan has the opportunity to export everything from textiles to pharmaceuticals. He also noted that the media has often portrayed Ethiopia negatively; however, Ambassador Jemal Beker Abdula has successfully transformed this perception. Direct flights are now operating from Karachi to Addis Ababa. Copyright Business Recorder, 2025
Express Tribune
21-04-2025
- Business
- Express Tribune
Pakistan, Rwanda sign MoUs to boost bilateral cooperation, trade
Listen to article Pakistan and Rwanda on Monday reaffirmed their commitment to enhancing bilateral cooperation across multiple sectors, including trade, defense, technology, and diplomacy. The pledge followed a delegation-level meeting between Deputy Prime Minister and Foreign Minister, Senator Ishaq Dar, and Rwanda's Minister of Foreign Affairs and International Cooperation, Ambassador Olivier Jean Patrick Nduhungirehe. The Rwandan foreign minister was on his first official visit to Pakistan from April 21 to 22. During their discussions, both sides expressed satisfaction with the progress in bilateral relations and signed a Memorandum of Understanding (MoU) in the field of diplomatic training. The ministers highlighted the potential for further collaboration in priority areas such as trade, investment, defense, diplomacy, and people-to-people exchanges. Deputy Prime Minister Dar emphasised the importance Pakistan places on its relationship with Rwanda, noting that Pakistan established its High Commission in Kigali in 2021, and that the inauguration of Rwanda's High Commission in Islamabad was expected during the current visit. Ishaq Dar said Pakistan was a key importer of Rwandan tea and was exploring increased imports of other products, including coffee, avocados, pulses, and horticultural goods. He also noted the potential for Pakistan to expand its exports to Rwanda in pharmaceuticals, textiles, rice, surgical instruments, agri-tech, and sports equipment. Highlighting the digital sector, FM Dar said Pakistan was interested in partnering with Rwanda in areas like e-governance, fintech, digital innovation, and youth-focused technology platforms. He welcomed Rwanda's participation in the upcoming Pakistan-Africa Trade Development Conference and Single Country Exhibition in Addis Ababa in May 2025. Both ministers acknowledged the importance of high-level exchanges and collaboration in multilateral forums, with mutual support for candidatures at the United Nations and other international bodies. Foreign Minister Nduhungirehe noted that the signing of the MoU was part of broader efforts to deepen cooperation, with additional agreements under consideration. He said his delegation, which included representatives from Rwanda's Development Board and trade ministry, reflected Rwanda's interest in expanding business ties with Pakistan. Rwanda's exports to Pakistan currently stand at approximately $26 million, while Pakistan's exports to Rwanda total around $100 million, according to the Rwandan foreign minister. He expressed interest in exploring joint projects in sectors such as education, health, trade, and defense. Nduhungirehe also emphasised the potential for collaboration in tourism and sports, including cricket, which is widely followed in both countries. He commended Pakistan's contributions to UN peacekeeping and conflict resolution in Africa, especially in the context of Pakistan's current non-permanent seat on the UN Security Council. He reaffirmed Rwanda's commitment to ongoing peace efforts in the eastern Democratic Republic of Congo (DRC) and expressed hope for progress in the months ahead.
Express Tribune
07-02-2025
- Business
- Express Tribune
Exhibition strengthens economic ties with Riyadh
Listen to article ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan engaged in high-level meetings with Saudi officials to enhance economic cooperation and expand trade and investment opportunities between Pakistan and Saudi Arabia. The discussions took place on the sidelines of the 'Made in Pakistan' Exhibition and Business Forum in Jeddah. During a meeting with Abdul Aziz Alsakran, Deputy Governor of the General Authority of Foreign Trade, both sides underscored the importance of increasing bilateral trade and investment. Alsakran congratulated the Pakistani government on organising a successful trade event, recognising its role in promoting Pakistani products and fostering stronger business ties between the two countries. In another key discussion, Kamal Khan met with Hassan Moejeb Al-Huwaizy, Chairman of the Federation of Saudi Chambers, to explore institutional collaboration. The minister reaffirmed Pakistan's commitment to strengthening economic partnerships and the role of business chambers in driving bilateral trade. He proposed structured Business-to-Business (B2B) networking activities to unlock new trade and investment prospects. The 'Made in Pakistan' Exhibition and Business Forum, held from February 5-7 at the Jeddah International Exhibition and Convention Centre, brought together top Pakistani companies and Saudi investors. The event provided a platform to showcase Pakistan's industrial potential and explore collaboration in key sectors. The commerce minister inaugurated Pakistan's first-ever Single Country Exhibition in Saudi Arabia, marking a significant milestone in Pak-Saudi trade relations. Addressing Saudi officials, business leaders, and diplomats, he stressed the importance of strengthening economic ties and showcasing Pakistan's diverse industrial base. "This event is a testament to the enduring relationship between Pakistan and Saudi Arabia, rooted in shared faith, cultural ties, and strategic partnership," he stated. He highlighted Pakistan's expertise in textiles, sports goods, light engineering, food, and construction materials, stressing the government's commitment to expanding trade through strategic initiatives. The minister noted Pakistan's evolving industrial base and its potential for collaboration, particularly in food security, energy, mining, and human resource development. He underscored the role of the Special Investment Facilitation Council in prioritising Saudi investments in Pakistan. Kamal Khan also acknowledged the significant contributions of the 2.7 million-strong Pakistani diaspora in Saudi Arabia. He pointed out that over 1.7 million Pakistani workers have migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants. Highlighting Pakistan's globally renowned football manufacturing industry, the minister congratulated Saudi Arabia on securing the bid to host the 2034 FIFA World Cup. He expressed confidence that Pakistan would continue producing FIFA footballs, following its legacy of manufacturing for past tournaments. "From Brazuca to Telstar to Al-Rihla, Pakistani footballs have a rich history with FIFA. We look forward to contributing to FIFA 2034," he stated. The minister also called for deeper collaborations between Pakistani and Saudi businesses, under scoring joint ventures targeting markets in Africa, Central Asia, and the Far East. "Together, we can explore new markets and create successful trilateral partnerships, leveraging the vast experience of Pakistani entrepreneurs," he remarked. The 'Made in Pakistan' exhibition featured 137 Pakistani companies and was attended by prominent Saudi officials, diplomats, and business leaders.
