Tiryaki Agro and Djibouti Sign Memorandum of Understanding for the Development of Tadjourah Port

en.Wedoany.com Reported - Tiryaki Agro and the Djibouti Ports and Free Zones Authority (DPFZA) have signed a Memorandum of Understanding (MoU) to jointly assess long-term development, modernization, and operational plans for the Port of Tadjourah in Djibouti.

The agreement aims to strengthen Djibouti's position as a regional trade and logistics hub and support agricultural trade, supply chain resilience, and food security in the Horn of Africa. Under the MoU, Tiryaki Agro and DPFZA will collaborate to evaluate the technical, commercial, and operational frameworks for the future development of Tadjourah Port. Subject to positive outcomes from subsequent studies and negotiations, and the signing of a final agreement, the project plans to modernize the port's infrastructure, enhance logistics and storage capacity, and improve the handling of agricultural products and bulk cargo, which is expected to promote regional economic development. The MoU also lays the groundwork for negotiations between the two parties on a long-term concession contract for port management and operations.

This agreement builds on the partnership between the International Finance Corporation (IFC) and Tiryaki Agro, with feasibility studies, planning work, and stakeholder mobilization provided by IFC in the early stages laying the foundation for this progress. Tiryaki Agro General Manager Süleyman Tiryakioğlu stated that the signing of the MoU marks a key milestone in the company's long-term commitment to Djibouti, reflecting its determination to drive the country's emergence as a regional trade and logistics hub, and expressed gratitude for the support from the Djiboutian government, DPFZA, and partner IFC.

The initiative aligns with Djibouti's long-term vision of consolidating its role as a strategic logistics hub connecting Africa, the Middle East, and global markets. Through continued collaboration between the Djiboutian government, DPFZA, IFC, and Tiryaki Agro, the project aims to create favorable conditions for future investment in Tadjourah Port, facilitating more efficient agricultural trade, enhancing supply chain resilience, and supporting private sector-driven sustainable growth in the Horn of Africa.