Djibouti To Boost Ties With UAE

ABU DHABI, June 25, 2007 – Djibouti, which enjoys strategic partnership with the UAE, is looking forward to further strengthen its relations with more investments flowing in from the UAE into sectors like infrastructure, tourism and real estate.

This was stated by Idriss Ahmed Chirwa, Ambassador of the Republic of Djibouti to the UAE, in an exclusive interview with Khaleej Times yesterday on the occasion of his country’s Independence Day on June 27. The embassy is celebrating the day with an official reception in the capital tomorrow.

“ Djibouti is considered to be the gateway to the Sub Saharan African continent and the UAE, particularly Dubai, is the gateway to the Gulf region and beyond. A sustained growth in our relations can be mutually beneficial to the people of the two countries in the long run,” he said. Chirwa said that Djibouti’s geographic location on the crossroads of Africa, Asia and Europe, its investment friendly policies such as, property ownership rights for foreigners, and its membership of COMESA (Common Market for Eastern and Southern Africa) an economic community of 19 countries as its members with a population of 380 million, all point to a bright future for the country.

“We invite UAE companies to make Djibouti the gateway to COMESA,” he said. “The strong ties between the two countries reflect the excellent relations between Djibouti’s forward looking leader, President Ismail Omar Guelleh and the UAE President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Constant contacts are maintained at the highest level,” the ambassador said.

Chirwa said that Dubai was the single largest investor in Djibouti. DP World and its subsidiaries are making a huge investment of $800 million in Djibouti. DP World has taken over the management of the port of Djibouti. It has invested $130 million in an oil terminal. It is investing $400 million in a new under-construction project of container terminal on a build and operate basis. Investments have also been made in a new free zone, while Nakheel, a DP World subsidiary, has opened a five-star hotel and resort, the Kempinski Djibouti Palace. In addition, other UAE businesses have invested $100 million in tourism, leisure and entertainment projects in Djibouti, he said. Companies from Djibouti have invested in the real estate in Dubai and many more companies from his country are operating from Dubai. Chirwa said that bilateral trade surged by 58 per cent from $110 million in 2005 to $180 million in 2006 and is forecast to be over $250 million in 2007. Djibouti’s major exports to the UAE include fish, livestock, salt, and hides and skin.

The UAE mostly exports a large variety of consumer products, foodstuff, and pharmaceuticals. “There are not many Djibouti nationals residing in the UAE. They number less than 1,000. But there is a significant number of visitors from Djibouti for trade and business. We practically shop all our needs from Dubai,” he said.

Source: Khaleej Times