A major new marine project is being formed by Saudi Arabia and Djibouti with the goal of enhancing trade and commercial relations between the two nations.
The foundation of this partnership is the creation of shipping lines intended to improve trade connectivity with markets in East Africa, which together account for over 500 million consumers, according to the Saudi Press Agency.
The Saudi Logistics City, which will be built inside the Djibouti Free Zone, is the focal point of this cooperation. This ambitious project is an attempt to support business relations and facilitate the sale of Saudi products. It was formalized through a contract signed in June.
The 92-year deal, which starts at 120,000 square meters, is anticipated to have a revolutionary effect on the economies of both countries.
On August 7, a workshop named “Activating Maritime Routes Between Jazan City and Djibouti Republic” was held in support of this endeavor.
Jazan Chamber Chairman Ahmed Abu Hadi was among the attendees at the event, which was arranged by the Federation of Saudi Chambers, the Jazan Chamber of Commerce, and the Ministry of Transport and Logistic Services.
The workshop’s objectives were to examine business potential, talk about existing incentives, and address the difficulties Saudi investors encounter when trying to access the Horn of Africa.
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