ISLAMABAD: Pakistan and Ethiopia have expressed their commitment to further strengthening their bilateral relationship, focusing on enhancing trade and financial collaborations. This understanding was reached during a meeting between Pakistan’s Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and the Ethiopian Ambassador to Pakistan, Jemal Beker Abdula, in Islamabad.
During the meeting, the Finance Minister warmly welcomed the Ambassador and provided an overview of Pakistan’s ongoing economic reforms. 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, reforms in state-owned enterprises (SOEs), and advancements in the power sector. He noted that international rating agencies have started acknowledging Pakistan’s economic stability, with recent reports from Fitch confirming an improved economic outlook. The government’s current focus is on achieving long-term economic sustainability.
The Ethiopian Ambassador praised Pakistan’s macroeconomic stability and shared insights into Ethiopia’s similar approach to home-grown economic reforms. He detailed Ethiopia’s initiatives inspired by Pakistan’s experiences, particularly in stabilizing its currency and fostering economic resilience. Additionally, the Ambassador proposed exploring educational cooperation, including student exchange and scholarship programs, to provide Ethiopian students with opportunities to study in Pakistan and strengthen educational and cultural ties between the two nations.
The Finance Minister agreed on the importance of fostering deeper ties and welcomed the proposed collaborations. Both parties emphasized the mutual benefits of increased cooperation and committed to working together to enhance bilateral trade and financial collaborations.
