Tuesday, 22 August 2017 03:39

Ethiopia wants to transfer 50% of its trade through Sudan, as an alternative to Djibouti

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Visiting neighboring Sudan, Hailemariam Dessalegn, the Ethiopian Prime Minister announced that his country plans to transport 50% of its foreign trade through Port Sudan, the main port of the host country.Located between Eritrea, Somalia, Sudan and the Republic of Djibouti, Ethiopia satisfies 95% of its trade with the rest of the world via the main port of the Horn of Africa.

With a population of 100 million, Africa's second most populous country, is one of the fastest growing countries in the world. Specifically, over the past five years, the Ethiopian economy has experienced an average annual increase of more than 10%. If trade is the driving force behind this dynamic, since the country does not have a coastline, it faces enormous logistical problems that profoundly affect its revenues.According to the minister, this very practical measure for the northern regions of the country could considerably reduce transport costs, which represent heavy burdens for economic agents. In addition, Ethiopia's access to Port Sudan should relieve congestion in the port of Djibouti and facilitate the transit of goods to the country.

Boramanews Agency

Boramanews.com

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