Ethiopia diversifies trade access with Sudan and Kenya port investments
Ethiopia will take a stake in Port Sudan in its latest deal to boost and diversify its maritime business.
The deal was reached at a meeting between Ethiopia’s Prime Minister Abiy Ahmed and Sudan President Omar al-Bashir.
“The leaders of both countries agreed to develop Port Sudan together,” said Meles Alem, spokesman for Ethiopia’s Foreign Ministry, reported The Sundanese Media Center.
Mr Alem added: “This deal entails that Ethiopia will be a shareholder of the port as well.”
No financial details of the agreement were disclosed.
Ethiopian diplomats and Kenyan leaders have also announced an agreement to give Ethiopia a lease at Kenya's new Lamu Port for logistics purposes, according to the Maritime Executive.
The agreement comes with a joint commitment to improve the road and rail links between Addis Ababa and the Kenyan border.
Last month Ethiopia also reached a deal to take a share in Djibouti’s Port of Djibouti under an agreement reached by both countries — though the size of the stake has not been confirmed.
In February DP World stated Ethiopia would take a 19% stake in the Port of Berbera in Somaliland, however Somalia later said the deal was unlawful, sparking ongoing pressure on DP World to scrap the deal.
Ethiopia, which is a landlocked country and Africa’s second-biggest in terms of population, currently sees Djibouti handle roughly 95% of all inbound trade for it.
LATEST PRESS RELEASES
Our new office in Spain is not even a year old and we already celebrate two successfully completed i... Read more
Montreal, QC, June 20, 2018 — At TOC Europe 2018 (Stand D40), CM Labs Simulations, the world leader ... Read more
ShibataFenderTeam has a new welding supervisor for the steel fabrication at our production facility ... Read more
Since 2012 ShibataFenderTeam fenders support the smooth berthing operations from VABI in Surinam. Read more
Exis Technologies, with the support of leading shipping and freight insurers, TT Club and UK P&I Clu... Read more
The exhibition series ‘Intermodal Africa’ organized by Transport Events is always a good possibility... Read more