ADDIS ABABA, Sept. 24 (Xinhua) -- Djiboutian President Ismail Omar Guelleh and Ethiopian Prime Minister Abiy Ahmed have announced a joint pipeline development project to strengthen bilateral economic ties.
This came as part of Abiy's visit to the Red Sea country on Thursday, where the two countries' leaders announced "a major strategic investment," connecting Damerjog in Djibouti to Dewele in Ethiopia through a new refined petroleum products pipeline, the Ethiopian prime minister said on social media platform X.
According to Abiy, the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group.
"More than a pipeline, this is an investment in future growth, regional integration, and a more secure shared economic future, with African investment at its center," Abiy said, adding that the landmark infrastructure will reduce logistics costs and delays, strengthen energy security, and enhance the efficiency and resilience of the Ethiopia-Djibouti corridor.
Ethiopia, a landlocked country in the Horn of Africa, accesses international maritime trade through ports in neighboring countries. The Ethiopia-Djibouti trade corridor is the nation's main gateway for global trade, with estimates showing that more than 90 percent of its imports and exports pass through ports in Djibouti.
The East African country, the second most populous nation in Africa after Nigeria, with a population of about 130 million, is one of the fastest-growing economies on the continent. ■