Somalia declares DP World Berbera Port deal illegal

Press Releases
ByStaff reporter , Garowe Online
Ethiopia Acquires 19% Stake in DP World Berbera Port

MOGADISHU, Somalia - The Federal Government of Somalia has declared that Berbera Port deal signed between Somaliland and UAE's DP World illegal and detrimental to the sovereignty of the country, Garowe Online reports.

Somalia's Ministry of Ports and Marine Transport said in a statement that the new Investment agreement which the DP world would hold 51% stake where Ethiopia would acquire 19% is "invalid, null and void".

"The Federal Government of Somalia welcomes investment and development of trade and infrastructure, but always with strict adherence to the rule of law and procedures set by the government’s institutions, and with oversight from the federal parliament," read the statement in part.

Ethiopia will become a shareholder of the Port of Berbera following the signing of an agreement with DP World and the Somaliland Port Authority in Dubai on Thursday, March 1, 2018.

The controversial deal was inked while Somali PM Hassan Ali Khaire was in the UAE for a two-day visit. The northern breakaway state of Somaliland is yet to comment on the Federal Government's decision. 

GAROWE ONLINE