Pakistani pharma firms keen to invest in Ethiopia

Addis Ababa, February 10, 2023 (FBC) – The pharmaceutical companies in Pakistan have expressed keenness to produce raw material drugs by investing in health sector in Ethiopia.

The interest was shown by a delegation of the pharmaceutical industry during a meeting with Ambassador Ethiopia Jemal Beker Abdula at his office on Wednesday, according to Pakistan Observer.

The delegation, led by President of the Islamabad Chamber of Commerce and Industry Ahsan Zafar Bakhtawari, included former president of ICCI Zafar Bakhtawari, ICCI Executive Member Shaukat Hayat Khan, ICCI Defence Sub Committee Convener Zahid maqbool and representative of different pharmaceutical companies.

Pakistan can offer best quality medicines to Ethiopia at par with the international standards as well as on affordable rates, the representatives of the companies said.

A representative of another company based in the twin cities said there was a big cluster of pharmaceutical manufacturers in the twin cities of Rawalpindi and Islamabad. “Our company is producing more than 150 lifesaving drugs and also interested in doing business in Africa especially, Ethiopia.”

Ethiopian ambassador to Pakistan, Jemal Beker said the products produced by Pakistan’s pharmaceutical industry had a good reputation in the world, but unfortunately could not get access to the market of Ethiopia due to absence of institutional linkages.

“The first thing we did after opening our embassy in Islamabad is to establish institutional linkages between the two countries,” he said, adding a lot of work had already been done in this regard in collaboration with the authorities concerned in Pakistan.

Moreover, the ambassador added that the health sector of Ethiopia offered lucrative opportunities for the Pakistani businessmen as currently Ethiopia has been importing around 80 per cent of pharmaceutical products from the other countries.

He also briefed them on a Pakistani business delegation flying to Ethiopia on March 5-10 for exploring business, trade and investment opportunities in the land of origins.

“It is high time for Pakistani businessmen to enter in the market of Ethiopia which will eventually give them access to the entire African continent,” ambassador Jemal added.

He urged the business community to join in the delegation which would advance the bilateral relations between the two countries.

ICCI President Ahsan Bakhtawari lauded the efforts of the ambassador for mobilizing a high-profile Pakistani delegation to Ethiopia in a short span of time, which showed his commitment and dedication to promote trade and economic relations between Pakistan and Ethiopia.