Islamabad: The Ambassador of the Federal Democratic Republic of Ethiopia to Pakistan, H.E. Mr. Jemal Beker Abdula, met with Minister for Finance and Revenue Senator Muhammad Aurangzeb to discuss economic reforms and potential bilateral cooperation.
According to Ministry of Finance announcement issued on 01 August 2024, the Finance Minister welcomed Ambassador Abdula and provided an overview of Pakistan’s ongoing economic reforms, which are part of a broader agenda aimed at achieving economic stability. The Minister highlighted 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, as reflected in recent Fitch reports, and emphasized the government’s aim of achieving economic sustainability.
Ambassador Abdula praised Pakistan’s macroeconomic stability and shared insights on Ethiopia’s similar approach to home-grown economic reforms. He discussed Ethiopia’s initiatives inspired by Pakistan’s experience, particularly in currency stabilization and economic resilience. The conversation included potential areas for enhanced bilateral trade and financial collaborations to promote mutual prosperity. Ambassador Abdula also proposed exploring educational cooperation, such as promoting student exchange and scholarship programs to provide Ethiopian students with opportunities to study in Pakistan, thereby fostering educational and cultural ties between the two countries.
Senator Aurangzeb agreed on the importance of deepening ties between Pakistan and Ethiopia and welcomed the proposed collaborations. Both parties acknowledged the mutual benefits of such partnerships and expressed a commitment to further strengthen the bilateral relationship.