Djibouti revealed ongoing efforts with Saudi Arabia to complete the navigation link between the two countries. This is to facilitate the flow of commercial and investment traffic.
It said both sides are preparing to hold a joint economic forum. It is to target third markets. Both countries also agreed to launch of a Saudi free trade zone in the Horn of Africa. This is in light of the 25 agreements and memoranda of understanding (MoUs) to bolster economic partnership.
According to Djibouti's Ambassador to Saudi Arabia, Minister of Trade Hasan Hamad Ibrahim signed on Saturday with his Saudi counterpart, Dr. Majed al-Qasabi, in Riyadh, trade cooperation program, as part of the bilateral economic integration.
Dya-Eddin Said Bamakhrama said that more than 25 agreements and MoUs were signed between the two countries to boost comprehensive cooperation and enhance joint work.
He explained that the leadership of the two countries coordinate and hold consultative meetings regularly, noting that the recent discussions included more than one government agency concerned with investment, trade, and economy.
Bamakhrama pointed out that discussions included launching a Saudi free trade zone in Djibouti. This is to increase exports of Saudi products to the African continent and other world countries, increase trade exchange, and launch new investments.
Ibrahim discussed with the Saudi Minister of Transport, Eng. Saleh bin Nasser al-Jasser, means of bolstering cooperation in the transport sector and all that is related to maritime navigation and free trade.
The discussions were attended by Chairman of the Public Transport Authority (PTA) Rumaih bin Mohammed al-Rumaih, President of Saudi Ports Authority (Mawani) Saad al-Khalb, and Deputy Governor for Trade Facilitation at Saudi Customs Faisal Albedah.
Both sides also discussed means of facilitating cargo transportation and logistics. Besides the opening of a direct air line linking both countries.
Their meeting tackled opening a direct maritime shipping line between the Kingdom and Djibouti. It will also be through the Jizan Port and Jeddah Islamic Port to enhance bilateral trade exchange.
