Analyst: Ethiopia -Somaliland Deal Fetches Bonanza to Economic Dev't

4 Mons Ago 1800
Analyst: Ethiopia -Somaliland Deal Fetches Bonanza to Economic Dev't

By Ahmed Mohammed

Ethiopia’s landmark deal with Somaliland to gain access to ports on the Red Sea is a move that could significantly unlock huge opportunities for Africa entirely as well, says Laurence Freeman, a political & economic analyst.

His remark came days after the signing of a historic memorandum of understanding for the leasing of 20km (12 miles) of Somaliland’s sea coast to landlocked Ethiopia. In exchange, Somaliland will receive shares in its neighbour’s flagship carrier, Ethiopian Airlines.

The agreement was made between Prime Minister Abiy Ahmed of Ethiopia and Muse Bihi Abdi of Somaliland.

The deal, which is receiving wide acclaims and has since then been catching headlines, is mutually beneficial, and Ethiopia will share military and intelligence experience with Somaliland

The American political analyst, best known for his in-depth thoughts on African affairs, hailed the move, noting that the significance the agreement would introduce to integrate the region.

While expounding the significance of the landmark agreement, Freeman told the Ethiopian News Agency  that it would pave suitable platforms for Ethiopia to diversify its access to the sea.

The expert recalled that the nation endured economic stress for being landlocked, an event that engulfed the nation after the breakaway of Eritrea in 1993.

Freeman believes the agreement is a breakthrough that could accelerate regional and global trade.

However, there are political forces within the Horn of Africa and around the world who would like to continue destabilizing the region, the American analyst noted.

He particularly pointed out that there are manipulators and political forces screaming war constantly.

When the prime minister talked about the port in October 2023, dozens of articles were published predicting war. But, there was no indication of war, he stated.//