In 2011 Djibouti was hit by three unfavourable factors that weighed on its economic growth. The country continued to record a slow-down in growth caused by the effects of the financial crisis on its two main economic drivers: port activities and foreign direct investment (FDI). Its economy was also affected by a severe drought, and the presidential election led to a period of wait-and-see in the private sector. In 2012 and 2013 port activities and FDI should record growth linked to the implementation of investment delayed since the start of the financial crisis, the extension of the container terminal at Doraleh and the exploitation of the country’s geothermal resources. In February 2012 the country also signed a historic tripartite co-operation agreement with Ethiopia and South Sudan. The agreement targets infrastructure construction for telecommunications, roads, railways and oil transport in the three countries, to link South Sudan via Ethiopia to Djibouti, which has access to the sea. This will bring new investment to Djibouti and an increase in business, especially port activities, and enable the country to decouple its economic performance from Ethiopian trade.