Rwanda has 60 hectares of land acquired far away in Djibouti at the shores of the Indian Ocean- this part has been idle for some time.
However, government said it has started receiving bids from local investors to develop this land which is considered Rwanda’s window for export and import goods handling in the Arab World.
President Paul Kagame has today arrived in Djibouti at the invitation of President Ismail Oguelleh for the inauguration of Djibouti International Free Trade Zone.
After attending the inauguration of this Free trade zone, President Kagame will also take part in the Africa-China Economic Forum and exhibition that continues up to Saturday.
This free trade zone is considered Africa’s largest sitting on 48 sq km (19 sq mile) worth of land.
According to Aboubaker Omar Hadi, chairman of the Djibouti Ports and Free Zone Authority, “(Djibouti) aims to become a gateway not only to Ethiopia but to South Sudan, Somalia and the Great Lakes region.”
Once fully utilized, the new free trade zone will be Djibouti’s first employment reservoir, with more than 15,000 direct and indirect jobs created. The country has a population of less than a million people.
This Free trade zone is scheduled to handle $7 billion in trade within two years.