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President Obama touts trade over protectionism in address to Congress

In his first address to a joint session of Congress on Tuesday night, President Obama committed to work with G-20 nations to “restore confidence in our financial system, avoid the possibility of escalating protectionism, and spur demand for American goods in markets across the globe.” This was certainly good news for Dubai World, which recently invested $400 million to construct east Africa’s ”most modern, highest capacity container port” in Djibouti. The Doraleh Container Terminal is expected to serve the undeserved and expanding markets of east Africa, including Kenya, Tanzania, and Ethiopia. Its strategic location will permit products to flow more efficiently from all corners of the earth, creating a new Middle East-Africa corridor of trade and opportunity.