Somaliland: Administration in Pursuit of Establishing Trade Balance with Ethiopia

Somalilandsun- “This is a very important project that will address some of the problems facing Somaliland concerning employment and investment.

This is per the Somaliland minister of foreign affairs and international cooperation Dr Saad Ali Shire following the signing of an addendum to the contract awarded DP World an Emirati firm to manage and develop the country’s main port of Berbera

According to the Foreign minister who led the Somaliland delegation to the signing in Dubai held on the 1^st march 2018 “It is a welcome development that will benefit the region as a whole. The economies of the region are growing at a pace that necessitates the development of multiple ports and outlets. The extension of the port will increase capacity of the region to accommodate the increase in trade.”

At the same breath Dr Saad Ali revealed that subsequent developments that grant Ethiopia a 19% stake in Berbera port among them improved service provision through acquisition and introduction of modern port operations equipment and techniques shall also result in realization of a trade balance between the two neighbouring countries.

Currently Ethiopia enjoys massive benefits from Somaliland where it exports in the millions of dollars annually devoid of any reciprocation

According to the federal authorities in Addis Ababa “The agreement will help Ethiopia secure an additional logistical gateway for its ever increasing import and export trade driven by its growing population and economy,”

This was stated by the Ethiopian Transport Minister Ahmad Shide who revealed that the deal had been a year in the making.

“In addition, Ethiopian participation in the development of port of Berbera and the Berbera Corridor will help bring increased economic development and opportunity to the people of Somaliland. Ethiopia will continue to further invest in and develop the Djibouti corridor and further consolidate the use of existing ports in Djibouti. It will also look for other opportunities to develop additional ports and logistics corridors in the region.” Said the minister