Keep Up with Addis Insight
Add us to your Google Preferred Sources to see updates first.
Today, the Ministry of Finance and Development of Somaliland announced the inauguration of the Ethiopian Transit Clearinghouse at Berbera Port, marking a significant milestone in the economic partnership between Somaliland and Ethiopia.
Abdiresheed Ibrahim, Director General of the Somaliland Ministry of Trade and Tourism, emphasized the importance of this development. “This is a big milestone in elevating the trade and investment ties between our two countries,” he stated. “This agreement demonstrates Somaliland’s commitment to strengthening regional and economic partnerships.”
The new clearinghouse is tasked with managing the transportation of cargo unloaded at Berbera Port to various destinations across Ethiopia, thereby streamlining logistics and enhancing trade efficiency between the two nations.
Ethiopian National Television reported that Spachi Watanvarachi, Chief Executive Officer of DP World Berbera— the company managing the port from the United Arab Emirates—was present at the official launch. Watanvarachi highlighted the clearinghouse’s role, saying, “This office is responsible for the transport of various cargoes unloaded at the port to Ethiopia.”
Adding to the significance of the event, Somaliland Finance and Development Minister Dr. Saad remarked, “Ethiopia and Somaliland have a strong relationship. Ethiopia, with its population of 120 million, can utilize alternative ports, which will further strengthen our economic collaboration.”
This initiative underscores Somaliland’s dedication to enhancing regional connectivity and economic growth, fostering a mutually beneficial relationship with Ethiopia. By facilitating smoother trade operations, the Ethiopian Transit Clearinghouse is set to play a pivotal role in boosting commerce and investment between the two countries.
