The UAE has rendered a great service to Ethiopia, through the port of Berbera in Somaliland, by allowing the Ethiopian ship “Phoebe” for the first time in 20 years to provide shipping services in the port of Berbera. Dubai port dealDP World had signed a $442 million agreement with the Somaliland government to operate a regional trade and logistics center in Berbera port in May 2016. On 1 March 2018, Ethiopia became a major shareholder after an agreement with DP World and Somaliland Ports Authority. DP World owns 51% of the project, Somaliland 30% and Ethiopia the remaining 19%. road network dealLast May, the UAE signed a $1 billion deal with Ethiopia aimed at developing an infrastructure for a road network to link Addis Ababa to the port of Berbera in Somalia.

Source: Ethiopian News July 07, 2021 17:03 UTC