Djibouti: Ethio-Djibouti Corridor to Boost Investment Inflows, Competitiveness

19 September 2024
The Ethiopian Herald (Addis Ababa)

Joint corridor management authority on right track

- Effectuating the Ethio- Djibouti Corridor Management Authority would have a great contribution on promoting the country's investment inflows and enhancing competitiveness of export trade, Ministry of Transport and Logistics (MoTL) said.

During the recent meeting on Ethio-Djibouti Corridor Management Authority establishment, MoTL Minister Alemu Simie (PhD) highlighted that port agreement between the two countries would be a significant milestone to advance the entire port logistics services efficiency which would boost nation's overall economy.

In addition to importing commodities for manufacturing industry and agricultural inputs, the minister underscored that this corridor advancement would have a great positive impact on expediting export volumes and global market competitiveness.

Over 95% of Ethiopia's import-export trade is mainly carried out through the Ethio-Djibouti corridor, it was learnt.

So far, the two countries have been convening chains of discussions to establish common management in a bid to modernize the port service delivery.

Recognizing the overall significance of establishing the corridor authority, various development partners have supported the corridor development to improve regional connectivity and logistics efficiency and inclusive growth and regional integration.

Djibouti Trade and Tourism Minister Alidawud Abdu on his part stated that the two countries have been engaging in bilateral cooperation in many areas such as logistics, trade and other notable services through their bilateral commission.

In line with this advanced corridor partnership, Alidawud said that, "We have to diversify our port accessibility and competitiveness in all sectors in East Africa and across the continent."

It is also indicated that this corridor project is highly believed to enhance regional integration and generate spillover benefits for the entire community and region in general.

BY ASHENAFI ANIMUT

THE ETHIOPIAN HERALD THURSDAY 19 SEPTEMBER 2024

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