Djibouti and Oman have signed an agreement to establish a strategic cooperation in jointly developing, investing, operating and managing ports and other important logistical facilities.
The State General Reserve Fund (SGRF) has signed a Memorandum of Agreement (MoA) with Djibouti Ports and Free Zones Authority, in the presence of, President Ismail Omar Guelleh.
The agreement constitutes an important milestone in the relation between the two countries.
Oman’s State General Reserve Fund (SGRF) Executive President, Abdulsalam bin Mohammed Al Murshidi signed the deal while Abu Baker Omar Hadi, Chairman of Ports & Free Zones Authority, signed on behalf of the Djibouti government.
The main objective of this MoA is to set the framework that will enable the two institutions to further discussion on ways to make the cooperation more concrete.
The two sides also agreed to conduct opportunities assessment in the area of new ports in Djibouti with the objective of undertaking joint investments in the future, and further enhance the spirit of good cooperation.
The Fund has invested in a number of strategic ports around the world, such as Kumport in Turkey, Bharat Mumbai Container Terminals in India, in addition to the Bagamoyo Port development in Tanzania.