First Djibouti International Trade Fair Invites Participants from around the World

Djibouti

In celebration of the 110th anniversary, the Chamber of Commerce of Djibouti (CCD) is to host the first international trade fair and economic integration forum in the coming month. The international trade fair that will be held from December 3 to 7 has already secured several participants across the world, according to the organizers that came to visit Addis Ababa last week. On their visit and participation of the Ethiopian Chamber of Commerce and Sectorial Associations annual trade fair the CCD officials met with trade fair participants that come from various part of the world. On Sunday October 29, the CCD organized a luncheon at Saro Maria Hotel to meet potential participants from Ethiopia and other countries on the upcoming event in Djibouti, the major logistics hub in east Africa located on one of the busiest sea routes in the world. The economic growth of Djibouti in the recent few years has registered massive achievements that attracted heavy investor interested in various fields including logistics and light industries. So far over 50 participants have registered to attend the first trade fair in Djibouti, while companies from China, India, Turkey, and Morocco are some that will come from abroad, according to Youssef Dawaleh, President of CCD. He further said that the fair will bring a long term and unparalleled commercial lead for businesses and investors as Djibouti, thanks to its geostrategic position occupies a central place in the world trade. Not only is it the natural gateway to the East African market, but it is also Common Market in broader level for Eastern and Southern Africa (COMESA) region. On the discussions that were held at Saro Maria Hotel, Ethiopian and Moroccan investors have taken part showing interest to learn more about Djibouti and its attraction both for investment as well as for tourism. Kebour Ghenna, Executive director of the Pan African Chamber of Commerce & Industry (PACCI) promised to provide all the necessary support for the success of the fair and forum. He also said that the Djibouti port is promoting and contributing significantly to the integration of the region. Endalkachew Sime, Secretary General of Ethiopian Chamber of Commerce and Sectorial Associations, told Capital that the association has encouraged the private sector to take part on the Djibouti trade fair and forum. Besides the trade fair a forum will be hosted, according to the plan. The forum entitled ‘Investing in Infrastructure for a Regional Integration in East Africa’ will also take place in parallel with the international fair. The two days forum, which aims to stimulate investment in East Africa, is based on the principle that more private investment in various priority sectors increase commercial transactions and generate sustainable and inclusive growth as well as creates new employment and reduce poverty rate in the countries concerned. The forum that will bring together over 150 participants is meant to increase and promote responsible and partnership investments from the world in East Africa, especially in the sectors to transport infrastructure, light industries and energy. CCD that celebrates its 110 anniversary is one of the oldest private sector associations in the eastern Africa region. The country enjoys economic and financial stability with an average GDP growth rate of 6 percent.

[capitalethiopia.com]