Araweelo News Network.

Addis Ababa (ANN)-DP World says it is pleased to sign a $ 1 billion investment agreement with the Federal Government of Ethiopia today, which is related to the Corridor project that connects Somaliland trade in the Port of Berbera and landlocked Ethiopia.

DP World Chairman Sultan Ahmed Bin Sulayem wrote on Twitter that the agreement between Ethiopia and DP World, which operates the strategic port of Berbera in Somaliland, is important for trade in the Horn of Africa region.

READ: “Berbera port reaches another milestone in Development” by statement DP world

“We strongly believe that developing the Berbera Corridor into one of the major trade and logistics corridors will unlock huge economic benefits for Ethiopia.” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.

For his part, DImawit Moges, Minister of Transport of the Federal Government of Ethiopia, today signed a memorandum of understanding (MoU) with DP World for the development of the Ethiopian side of the road linking Ethiopia and Somaliland at the regional port of Berbera. a major trade route and supply.

The development of this road will not only meet the growing demand for international trade in Ethiopia, but will also enhance our nation’s ability to capitalize on our current major trade volume and efficiency, said Digmawit, talking about the Agreement.

READ: Somaliland: DP World Completes 400 Meter Expansion Of Berbera Port

Ethiopia aims to diversify its port access facilities & services to improve its trade corridor access routes; utilizing the Berbera corridor will have a potential to make Ethiopia a front-runner in logistics operations, boosting competitive advantage of delivering our products to the world. He added.

DImawit Moges, Minister of Transport of the Federal Government of Ethiopia, said the agreement DP World UAE will invest up to US$1bn in developing supply chain infrastructure along the corridor. This MOU explores the potentials for developing logistics infrastructure & provision of end to end logistics services along the corridor to unlock major economic benefits for.

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By Arraale M Jama Freelance Journalist and Human Rights activist.

Araweelo News Network.

Araweelo News Network.