ISLAMABAD, Pakistan: The Ambassador of the Federal Democratic Republic of Ethiopia to Pakistan Jemal Beker Abdula to Pakistan called on the Minister for Finance & Revenue Senator Muhammad Aurangzeb at the Finance Division in Islamabad on Thursday.
Talking to the Ethiopian ambassador, the finance minister provided an overview of the economic reforms currently underway in Pakistan as part of a broader home-grown agenda aimed at achieving economic stability.
The minister highlighted recent positive developments including improvements in foreign exchange reserves, state-owned enterprise (SOE) reforms, and advancements in the power sector.
Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb was called on by the Ambassador of the Federal Democratic Republic of Ethiopia to Pakistan H.E. Mr. Jemal Beker Abdula. pic.twitter.com/EzjIpnUfUD
— Ministry of Finance, Government of Pakistan (@Financegovpk) August 1, 2024
Muhammad Aurangzeb said that International Rating agencies have started acknowledging the economic stability as a result of government’s economic decisions. Country’s economic outlook has improved as confirmed by recent Fitch reports and now government aims at achieving economic sustainability, he added.
The Ethiopian ambassador praised and appreciated Pakistan’s macroeconomic stability and shared insights on Ethiopia’s similar approach to home-grown economic reforms. He detailed Ethiopia’s initiatives inspired by Pakistan’s experience, particularly in stabilizing its currency and fostering economic resilience.
The discussion also encompassed the potential for enhanced bilateral trade and financial collaborations to foster mutual prosperity.
Ambassador Jemal Beker Abdula proposed the exploration of educational cooperation, specifically the promotion of student exchange and scholarship programs.
This initiative aims at providing Ethiopian students with opportunities to study in Pakistan, fostering educational and cultural ties between the two nations.
Senator Muhammad Aurangzeb agreed on the importance of fostering deeper ties between the two nations and welcomed the proposed collaborations.
Both parties acknowledged the mutual benefits that can be derived from such partnerships and expressed commitment to further strengthening the bilateral relationship.
