International trade fair highlights Djibouti’s role in regional trade

Trade

With the aim of strengthening the role of Djibouti in the regional trade, the 110 years old Chamber of Commerce of Djibouti hosted ‘Djibouti the gateway to Africa’, its first international trade fair.

The trade fair has attracted international businesses from across the world, including from Canada, Yemen, Kenya, United Arab Emirates, Uganda and Ethiopia among others.

In addition a delegation of business from Japan with 52 members is also participated. The event has brought together suppliers, customers and service providers in Djibouti and its sub-region and all their partners around the world.

Through the trade fair Djibouti has promoted its commercial position in the region that enables the country to be a supply and redistribution platform of regional trade. During the week-long event the country has also promoted its promising businesses for investors such as transport, ports, free zones and banks, among others.

Djibouti enjoys economic and financial stability, with an average GDP growth rate of 6%. A sustained growth reflecting the strength and dynamism of its economy, driven mainly by the services sector, to almost 75%, and which is beginning to diversify, especially through the inflow of foreign direct investment, according to…

Cultural shows such as, dances and songs were also part of the daily events at the sidelines of the week-long trade fair held from December 3-7, 2017. The event also incorporated panel discussions and forums on regional integration and investment highlighting the completed and ongoing cross border infrastructure projects between Djibouti and Ethiopia. Forums on investment potentials of Djibouti and its tourism attractions have also been part of the trade fair.

A delegation of business community from Ethiopia engaged in tourism sector have also held discussions on how jointly can promote the two countries as one tourism destination.  With its unusual landscapes, from its mountain chain and the millennial forest of Day to the north, to the sandy coasts of the East, passing by the lunar and volcanic panoramas of the center, Djibouti has exceptional natural assets and a rich cultural and archaeological heritage that deserve to be explored.

Strategic position

Located in the eastern part of the Horn of Africa, the Republic of Djibouti shares its borders with Ethiopia in the North West, Somalia in the Southeast, Eritrea in the Northwest, and the Gulf of Aden in the East. With 300 km of coastline at the entrance of the Red Sea and at the exit of the Indian Ocean, it covers an area of 23 000 km² and has a population of close to 914,000 inhabitants.

Due to this position on the second most used sea route in the world, Djibouti has focused its economic development on multilateral and regional trade through its membership of various regional or international entities such as the World Trade Organization (WTO), Africa, Caribbean and Pacific (ACP) countries, Common Market for Eastern and Southern Africa (COMESA) and Organization of Islamic Council (OIC), among others.

The existence of Ports with modern facilities, a road corridor linking it with Ethiopia and its 105 million inhabitants, an efficient international airport and a telecommunication network contribute to the development of trade , banking, insurance and transport-related services, making the country the natural platform of global trade in East Africa.