Horndiplomat-The President of Somaliland Muse Bihi Abdi,Somali region of Ethiopia Preisdent Mustafa Muhumed Omar and Khalifa Al Qubaisi, Deputy Director General of ADFD inaugurated the 245km road construction linking Berbera port to Ethiopia on Thursday.
Construction of Berbera corridor was part of a broader deal which gave UAE’s DP World a 30-year concession to develop and manage Berbera port.
The agreement created new company that manages Berbera Port; the ownership shares of the company has been allocated with DP World taking 51% ownership of the company, Somaliland will own 30% of the shares, and Ethiopia will own 19% of the shares.
The agreement calls for infrastructure investment of $442 million dollars to upgrade the existing Berbera Port and to build a new adjacent Container Port.
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It includes millions of dollars more to build a new road from Berbera to the Ethiopian border town of Wajale.
The President of Somaliland Muse Bihi Abdi stressed the Importance of Economic integration between Somaliland and Ethiopia.
“Somaliland ready to serve “Ethiopia” one of the fastest growing countries in the world with forecast GDP growth of 8.2 per cent in 2018. “Said Somaliland President Muse Bihi
Development of the Berbera corridor is expected to address some of the region’s most pressing employment and investment issues.
“We promotes the Economic Integration between Somaliland and Somali region of Ethiopia because the Somaliland’s largest market is The Somali Region of Ethiopia-Said President Mustafe Cagjar
The expanded Berbera port and the new road will provide Ethiopian government and Ethiopian business community to have increased capacity to import and export merchandize to support continues growth of the Ethiopian economy.
Meanwhile, Somaliland President Muse Bihi Abdi receives large delegation from Somali region of Ethiopia Led by President Mustafa Muhumed Omar.
During the meeting,The two sides Discussed issues pertaining to Economic integration between Somaliland and Somali region of Ethiopia.