From: Biniam Tekle (biniamt@dehai.org)
Date: Tue Jul 08 2008 - 08:55:32 EDT
Pak-Eritrea enhanced cooperation in economic field stressed
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ISLAMABAD, Jul 8 (APP): Pakistan and Eritrea have had close ties before and
during the colonial days while Pakistan has always been supportive of
Eritrea's freedom and it was also one of the first countries to support
Eritrea's independence from Italian colonialism.
This was stated by Muhammad Ijaz Abbasi, President Islamabad Chamber of
Commerce and Industry while talking to Wolde. G. Habte, Counsellor of
Embassy of the State of Eritrea who called on him here at ICCI Tuesday.
He said Pakistan feels proud on establishing close bilateral ties with
Eritrea in different fields of economy and wants to further increase these
relations to exploit full business potential exists between the two
countries.
Ijaz Abbasi said that frequent exchange of business delegations between
Pakistan and Eritrea will go a long way in enhancing and cementing bilateral
relations.
He said Pakistan is eager to pursue an aggressive economic diplomacy so as
to reap the abundant financial benefits as well as investment opportunities
that exist in Eritrea.
President ICCI said Pakistani businessmen and investors are also keen to
penetrate the Eritrea's markets to exploit the business opportunities in
potential areas of investment and expressed his optimism that Eritrea's
embassy will play its due role in facilitating business trips of Pakistani
entrepreneurs to Eritrea.
Muhammad Ijaz Abbasi said that regular mutual contacts of our business
people would play a key role in taking the historic relationship between the
two countries towards more substantive economic and commercial ties.
He laid special emphasis on increasing cooperation in economic,
agricultural, education and health fields and stressed for institutionalized
contacts between the business communities of two countries.
Speaking on the occasion, Wolde. G. Habte, said that like Pakistan, Eritrea
has also an agricultural economy as some 80% of our population is involved
in farming and herding which offers great trade potential in this sector
between the two countries.
He said Eritrea's agricultural products include sorghum,lentils, vegetables,
corn, cotton, tobacco, and sisal while cattle like sheep, goats, and camels
are raised and hides are produced.
He said that potentials of investment opportunity in Eritrea is unlimited
being still a virgin land, particularly in mining, tourism and the Free Zone
on the ports of Massawa and Assab on the costs of the Red Sea.
He said Eritrea's natural resources include gold, potash, zinc, copper, and
salt but they have not yet been fully exploited and Pakistani businessmen
and investors can earn huge returns by venturing into these areas.
He said Eritrea's oil and gas reserves, agriculture and other sectors are
also potential areas of investment for foreign investors.
He informed that Eritrea's main imports include machinery, petroleum
products, food and manufactured goods while exports comprise livestock,
sorghum and textiles and called upon the entrepreneurs and investors of
Pakistan to explore further business opportunities in these sectors which
will benefit the economies of the two countries.
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