Ethiopia and Djibouti Preparing Economic Integration Strategic Plan

ethio djiboutiEthiopian Ambassador to Djibouti, Suleiman Dedefo, announced in a bid to build economic integration, preparation for mutual strategic plan is being carried out by Ethiopia and Djibouti.

The Ambassador noted the economic integration is a phenomenon that came following the strong trade relation as well as the trust between the two countries. He added a team of experts will be formed in the near future for the purpose of monitoring implementation of the strategic plan.

Suleiman also said the trade relation between the two countries is a complementary one which intends ensuring mutual benefits rather than one filled with competition. He reminded Djibouti has provided over U.S $ 1 Million for the construction of the Grand Ethiopian Renaissance Dam.

The Djiboutian Ambassador to Ethiopia, Mohammed Idriss Farah, on his part said Ethiopia is a strategic ally to his country. He furthered the two countries have reached the stage where they enter into economic integration for the people to people and economic ties have been strengthened.

The Djiboutian Ambassador also noted the strong relations of Ethiopia and Djibouti is manifested by the Ethio-Djibouti railway network, electricity supply, road and other infrastructure developments which connect the two nations.

According to Ethiopian News Agency Djibouti is one of the major export destinations for Ethiopia. The country has imported goods that are worth U.S $ 138 Million during the first six months of the current fiscal year.

As to Ethiopia, the Agency states some 90 percent of Ethiopia’s trade activity is carried out through the port of Djibouti.

Source: Ethiopian News Agency

Exchange Rates

Selling
Buying
USD 33.4691  32.8128 
GBP 39.6820  38.9039 
EUR 36.9064  36.1827 
CHF 33.3607  32.7066 
CAD 21.4333  21.0130 
AED 8.2454  8.0837