A dozen Monaco businesspeople travelled recently to the tiny African state of Djibouti, on a mission to strengthen ties with the strategically important but little-known country.
Located on the second busiest sea route in the world, at the crossroads of Africa, the Arabian Peninsula and Europe via the Suez Canal, French-speaking Djibouti is the gateway for natural resources from COMESA (Common Market for Eastern and Southern Africa), a market for over 400 million people. The country has a remarkable port complex in deep water, a dry port and free zones and aspires to become an important hub for goods and services, the Monaco Economic Board said.

Djibouti has a monetary system backed by the US dollar which guarantees its reliability and contributes to the attractiveness and development of its financial sector. Its political stability, its diversity, and its openness to the world are reminiscent of certain characteristics of the Principality.

This was not the first exchange between the two countries. A delegation from Djibouti was welcomed in Monaco in September last year.

PHOTO: Monaco’s delegation from the Monaco Economic Board and the Club of Monegasque Entrepreneurs. MEB