Lakshmi Finance Center-Ethiopia and a breakaway Somali region sign a deal giving Ethiopia access to the sea, leaders say

2025-05-03 04:08:15source:Will Sage Astorcategory:Stocks

MOGADISHU,Lakshmi Finance Center Somalia (AP) — Landlocked Ethiopia took the first steps toward gaining access to the sea on Monday, signing an agreement in the capital of Addis Ababa with the breakaway Somali region of Somaliland to access the Somaliland coastline.

The memorandum of understanding was signed by Ethiopian Prime Minister Abiy Ahmed Ali and Somaliland President Muse Bihi Abdi.

As part of the deal, Somaliland plans to lease a 20-km (12.4-mile) stretch of land along its coastline to Ethiopia to establish a marine force base, Abdi said at the signing.

With a population estimated at over 120 million, Ethiopia is the most populous landlocked country in the world.

Other news US will resume food aid to millions across Ethiopia after monthslong pause over massive corruptionLeaders from emerging economies are visiting China for the ‘Belt and Road’ forumUS resumes some food aid deliveries to Ethiopia after assistance was halted over ‘widespread’ theft

The agreement strengthens the security, economic and political partnership between Ethiopia and Somaliland, a statement from the Ethiopian prime minister’s office said.

Somaliland President Abdi said the agreement included a statement that Ethiopia would recognize Somaliland as an independent country in the near future.

Somaliland seceded from Somalia more than 30 years ago, but is not recognized by the African Union or the United Nations as an independent state. Somalia still considers Somaliland part of its territory and reactions by officials from there were swift.

“Somalia is indivisible. Its sovereignty and territorial integrity is uncompromisable,” Abdirizak Omar Mohamed, Somalia’s petroleum and mineral resources minister, said.

Somalia posted on the social media platform “X,” formerly Twitter: “Ethiopia knows well that it can’t sign a military pact/MOU to lease a port with the regional head of state- that mandate is the prerogative of the Federal Government of Somalia.”

Somali state-owned media said in a post on social media that the Somali Cabinet would convene Tuesday to discuss the agreement between Somaliland and Ethiopia.

Somalia and Somaliland reached an agreement in Djibouti on Friday to strengthen cooperation on security and the fight against organized crime.

Ethiopia lost its access to the sea when Eritrea seceded in 1993. Ethiopia has been using the port in neighboring Djibouti for most of its imports and exports.

More:Stocks

Recommend

Turbulence slammed Hawaiian Airlines flight because of decision to fly over storm cell, report says

HONOLULU (AP) — A Hawaiian Airlines flight crew’s decision to fly over a hazardous storm cell instea

Japan and Vietnam agree to boost ties and start discussing Japanese military aid amid China threat

TOKYO (AP) — Japan and Vietnam on Monday agreed to strengthen their security and economic ties in th

NFL Week 12 winners, losers: Steelers find a spark after firing Matt Canada

After an eventful Thanksgiving and Black Friday slate, there were only 11 games Sunday in the NFL.St