Roving Ambassador to sub-Saharan Africa, Hameed A Kidwai, stated that in Ethiopia till 1998, not a single Pakistani company functioned and neither did he come across any Pakistani financier in the past seven years.
Since the two countries never had any bilateral trade relations, Dr Safdar A Sohail, commercial counselor at the High Commission for the Islamic Republic of Pakistan, who is based in Nairobi, has been trying to bring Pakistani investors to Ethiopia.
A Pakistani company signed an agreement with EFFORT to govern the Messobe Cement Factory in Tigray, soon there after Pakistani firms took over the management of other three companies under EFFORT.
Sibhat Nega, board chairman of EFFORT and a senior TPLF official, as the technocrat and Kidwai played an important role in bringing proficiency and direct foreign investment from Pakistan.
Thereafter, 20 companies from Pakistan have invested in textile, pharmaceuticals and in other sectors, their investment capital reaching US $300 million, and the bilateral trade relations that started from scratch, thrived to almost $11 million.
Unpredictably, the trade balance between the two countries was in favour of Ethiopia as Pakistan imported cotton, skins - hides and other agricultural products worth $7 million, whereas Pakistan's export to Ethiopia was only $4 million.
Ethiopia has the capability to export more coffee and tea to Pakistan, informed Kidwai.
Kidwai said that his country manufactures cheaper aircraft, tractors, and machineries that could be used for modern farming in Ethiopia.
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