April 15, 2006 (HARGEYSA) — The first transit, forwarding and customs clearance agent, Ethio-Somland Trading Plc has been opened by Ethiopian and Somaliland nationals to service Ethiopian goods that come through the Port of Berbera.
The Republic of Somaliland, which has not been given recognition as a state by world governments, is now home to the first-ever commercial company opened by Ethiopian and Somaliland citizens, according to the head of the Somaliland Commercial Office in Ethiopia.
Established by Farhan Haj Muhammad and Abdullahi Gamadid from Somaliland, and Al-Staz Plc from Ethiopia, the company has a capital of 3m Ethiopian birr [about 359,161 dollars]. It received its trade licence from the government of Somaliland.
Al-Staz Plc, established in 2004, imports vehicles and spare parts into Ethiopia. The company is also active in the transport sector.
Courtesy of Haatuf News