Pakistani Pharma Companies EagerTo Invest In Ethiopia

News Desk

Islamabad: Pakistani pharmaceutical firms have indicated a strong desire for to supply the raw materials for a variety of life-saving medications for Federal Democratic Republic of Ethiopia (FDRE)by investing in its healthcare system.

A group from the pharmaceutical business expressed interest when they met with FDRE Ambassador Extraordinary and Plenipotentiary to the Islamic Republic of Pakistan Jemal Beker Abdula at his office in Islamabad.

A pharmaceutical company head said, “Pakistan can provide Ethiopia with the highest-quality medications that meet international standards and are also reasonably priced.” He noted that his company produces 300 distinct brands of life-saving medications.

According to him, Pakistan is a $3.2 billion market for medicines with an 18 per cent annual growth rate. “Despite all the odds, the size of the market for our sector is expanding since we export (our products) to 65 nations, including states in Africa and Central Asia, among others.”

Ambassador Jemal Beker stated that the products made by Pakistan’s pharmaceutical industry have a solid reputation throughout the world but, regrettably, was unable to penetrate the Ethiopian market due to a lack of institutional connections.

“The establishment of institutional relations between the two nations was the first thing we did after opening our embassy in Islamabad,” he said, adding that much work had already been done in this area in coordination with the relevant authorities in Pakistan.

Jemal Beker claimed that because Ethiopia now imports over 80 per cent of its pharmaceutical goods from other nations, the country’s health industry presents lucrative potential for Pakistani firms.

Islamabad Chamber of Commerce and Industry (ICCI) President Ahsan Bakhtawari praised the ambassador’s efforts for quickly organising a prominent Pakistani team to visit Ethiopia, demonstrating his commitment to fostering trade and economic ties between Pakistan and Ethiopia.

Ahsan Bakhtawari also praised the Ethiopian Ambassador’s efforts to secure the launch of Ethiopian Airlines’ direct flights between Addis Ababa and Karachi in March, which would aid in fostering business and person-to-person ties between the two nations.