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Egypt and Djibouti Move to Strengthen Business Cooperation

Egypt and Djibouti have taken steps to expand economic cooperation and strengthen trade and investment ties across the Horn of Africa, with the signing of a memorandum of understanding between the Federation of Egyptian Chambers of Commerce and the Djibouti Chamber of Commerce.

The agreement was signed at the headquarters of the Federation of Egyptian Chambers of Commerce in Cairo in the presence of Orbis Ilaf Orbis, Djibouti’s Minister of Trade and Tourism.

Hany Mahmoud, First Vice President of the Federation of Egyptian Chambers of Commerce, and Youssef Moussa Dawaleh, President of the Djibouti Chamber of Commerce, signed the memorandum.

Joint Chamber to Connect Egyptian and Djiboutian Businesses

Ahmed El-Wakil, President of the Federation of Egyptian Chambers of Commerce, said the agreement aims to strengthen economic relations between the two countries and expand bilateral trade and investment across various sectors.

The cooperation will seek to maximize the benefits of existing bilateral and regional agreements, protocols and programs while giving the private sector and chambers a greater role in turning available opportunities into actual partnerships and investments.

Under the memorandum, Egypt and Djibouti will establish a joint chamber bringing together representatives of the business communities in priority sectors in both countries.

The chamber will exchange commercial and investment information, promote available opportunities and organize reciprocal visits for business delegations and sector-specific missions. It will also participate in exhibitions and conferences and work to include major Djiboutian companies in buyer missions attending Egyptian trade fairs.

The two sides also plan to organize an Egyptian-Djiboutian business forum in Djibouti in cooperation between the two chambers.

Logistics and Solar Energy Projects Under Discussion

Hany Mahmoud said the memorandum represents a practical step toward creating direct communication channels between businesses in Egypt and Djibouti and translating the strong relations between the two countries into commercially viable opportunities.

The Egyptian Federation of Chambers of Commerce will work with the Djibouti Chamber to connect Egyptian companies with their Djiboutian counterparts, identify priority sectors and arrange joint business meetings and delegations.

The initiative is also expected to support higher trade volumes and encourage joint projects and investments, while taking advantage of Djibouti’s strategic position as an important gateway to East African and Horn of Africa markets.

Alaa Ezz, Secretary-General of the Federation of African Chambers, said discussions with Djibouti’s Minister of Trade and Tourism covered several priority projects and programs.

Among the proposals are accelerating the development of a solar power plant at the Port of Djibouti and establishing an Egyptian logistics zone at the port.

Egypt and Djibouti Explore Fisheries and Tourism Opportunities

The talks also addressed potential cooperation and investment in marine fishing, fish farming and fish processing and freezing, in addition to opportunities in the hotel and tourism sectors.

Ezz said the two sides also discussed ways to increase trade flows between Egypt and Djibouti, supported by three weekly shipping lines, a direct air route and the presence of a Banque Misr branch.

These links are expected to provide infrastructure that can facilitate faster trade and investment between the two countries.

Egypt Targets Greater Imports From Djibouti

The two sides agreed to prioritize increasing Egyptian imports from Djibouti and surrounding markets, particularly camels, cattle and gum arabic.

They are also studying the establishment of an Egyptian slaughterhouse in Djibouti to benefit from the relatively short distance and faster maritime transportation, which takes no more than around five days.

At the same time, discussions covered opportunities to increase Egyptian exports to the Djiboutian market and replace products currently imported from other markets.

Targeted sectors include household appliances and engineering goods, electronics, light commercial vehicles, food and pharmaceutical products, cosmetics and construction materials.

Djibouti Positioned as Gateway to East Africa

Both sides said the memorandum represents another step toward building a sustainable partnership between the Egyptian and Djiboutian business communities.

The cooperation is also intended to capitalize on Djibouti’s strategic location and its role as a gateway to markets across the Horn of Africa and East Africa.