Djibouti could become a promising new destination for Bangladesh's export sector: Ambassador

Djibouti could emerge as a promising new destination for Bangladesh's export sector, said Djibouti's Ambassador to Bangladesh Abdillahi Assoweh Isse. 

Speaking at a press conference on trade and investment opportunities in Djibouti, held at a hotel in Dhaka today (2 December), Ambassador Isse said the world is increasingly using Djibouti as a gateway to African markets, as the continent offers a huge population base, abundant resources, and fast-return opportunities.

"Instability in many African countries often makes investors hesitant. However, Djibouti is the most peaceful, secure, and investment-friendly country in the region," he said, adding that China, the United States, and European nations have already chosen Djibouti as a strategic hub. 

Its location near the Bab-el-Mandeb Strait places the country at the crossroads of Asia, Europe, and Africa, he added. 

Photo: TBS

Highlighting investment incentives, he said Djibouti hosts Africa's largest free zone, where foreign investors enjoy full tax exemptions. Products with the 'Made in Djibouti' tag can also enter the Common Market for Eastern and Southern Africa (COMESA) – home to 600 million people – at zero duty. 

He further mentioned that Djibouti's banking system is highly modern, allowing letters of credit (LCs) to be opened in less than two hours.

He added that Djibouti has become a telecom and logistics hub due to its fast and expansive port facilities – home to Africa's second-fastest-growing port – and its sea-air-land connectivity. 

"Bangladesh can easily enter Africa's vast market by using Djibouti as a gateway," the ambassador said.

The event also announced that a Bangladeshi trade delegation will visit Djibouti from 11-14 January.

Leading figures from the country's export and investment sectors attended the press conference.