French minister highlights ‘immense potential’ of collaboration between France, Gulf states

Saudi Arabia is establishing a logistics zone in Djibouti to expand its economic presence in Africa

RIYADH: Saudi Arabia has signed an agreement to establish a logistics zone at the port of Djibouti, leveraging Africa’s gateway to drive the Kingdom’s products and exports and promote economic interaction.

Hassan Al-Huwaizi, president of the Federation of Saudi Chambers, and Aboubaker Omar Hadi, president of the Djibouti Ports and Free Zones Authority, signed the contract during the visit of a delegation of Saudi investors to the capital of this East African country.

Led by Al-Huwaizi, a delegation including more than 100 entrepreneurs and government representatives gathered to accelerate this transformative initiative.

A 92-year contract for a logistics zone spanning a vast area of ​​120,000 square meters. in its opening phase, it highlights a key milestone in the economic relations between Saudi Arabia and Djibouti.

The Saudi logistics city, which serves as a nexus for trade and innovation, is set to strengthen the kingdom’s economic presence across the African continent, as reported by the Saudi Press Agency.

Strategically located as a gateway to Africa, the port of Djibouti enables the expansion of Saudi products and exports to new markets and promotes strong economic interaction.

At the same time, the Saudi-Djibouti Business Forum, attended by more than 300 stakeholders, revealed a range of investment opportunities and highlighted Djibouti’s attractiveness as a free zone.

In return, Djibouti authorities promised Saudi investors equal treatment and guaranteed fair opportunities in all sectors, from renewable energy to technology.

These joint efforts underscore the firm commitment to fostering lasting economic cooperation between the two nations.

In February, the President of Djibouti reaffirmed his country’s commitment to promoting maritime security in the Red Sea.

Ismail Omar Guelleh noted that the East African country is working with major powers, including Saudi Arabia, to ensure safe passage for international shipping in Bab El-Mandeb and the Gulf of Aden.

He stressed that Djibouti’s strategic location has made it a key player in promoting global trade, noting cooperation with countries such as the United States, France, the United Kingdom and the Red Sea littoral countries, especially Saudi Arabia, in efforts to combat terrorism and maritime security.

Guelleh highlighted Djibouti’s long-standing ties with Saudi Arabia, dating back to 1977, when his country gained independence.

The President added that Djibouti is working to further strengthen cooperation with Saudi Arabia, particularly in the areas of maritime transport, logistics and port services, building on significant progress in port development.

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