Dubai International Chamber Board Meets To Discusses New Plans To Boost Foreign Trade
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Dubai International Chamber board discusses plans to boost foreign trade
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Dubai-based ports operator DP World and Ethiopia’s Ministry of Transport signed an agreement to develop the road linking Ethiopia to Berbera in Somaliland into a trade and logistics corridor.
DP World and its partners plan to invest up to $1 billion over the next 10 years to develop supply chain infrastructure along the corridor, the company said in a statement on Thursday. This will include dry ports, silos, warehouses, container yards, cool and cold chain depots, freight forwarding and clearing activities, the company said.
The agreement was signed in Addis Ababa on Thursday by Dagmawit Moges, Ethiopia’s Minister of Transport and Sultan Bin Sulayem, DP World s chairman and chief executive.