New trade deal on Somali fishery products, considered as the first agreement of its kind was signed yesterday in Mogadishu between the governments of Somalia and Ethiopia, in which Ethiopian khat will be exchanged for Somali fish.
Speaking at the signing of the agreement today at the airport in the capital, Federal Minister of Fisheries and Aquatic Resources Abdullahi Bidhaan Warsame and Minister of Road and Air Transport Duran Ahmed Farah , Ethiopian Ambassador in Somalia, officials, Businessmen and other markets.
The formal trade agreement between Somalia and Ethiopia has enabled Somali fish to gain international market share in neighboring countries and beyond.
The first 20,000 tonnes of Somali fish were also shipped to Ethiopia yesterday on two Ethiopian Airlines planes that landed at Mogadishu airport.
The new deal comes just a week after federal ministers and a group of Ethiopian and Turkish fishermen paid a working visit to the former district of Warsheikh in the Middle Shabelle region, inspecting and exploring investment opportunities and of trade in our country.
Also, the agreement signed today in Mogadishu will boost our country’s exports, reduce excessive khat imports to our country, and open a new chapter for Ethiopian economic resources and commodity trade.
Last year, at the height of the COVID pandemic, the Somali government stopped Khat imports from Kenya to stem the flow of movement of people and non essential goods but was maintained even after international flights resumed due to a growing diplomatic row between the two neighbours.
President Farmajo welcomed the deal
On the same day, President Mohamed Abdullahi Farmajo, after hearing a briefing by the Minister of Fisheries and the Minister of Transport, Mr. Warsame and Mr. Farah, underlined the importance trade with our neighboring countries based on balance and cooperation. Somalis will enjoy the same economic benefits as their imported goods.
The CEO of the fish export company, Mohamed Ibrahim Ali, who attended the meeting, thanked the country’s leaders for their priority in resolving the challenges facing Somali traders, primarily marketing. at the regional level and the management of opportunities.
Minister Warsame and Minister Farah said the opportunities for trade cooperation with neighboring countries go hand in hand with rebuilding infrastructure, balancing exchanges with neighboring countries and the strengthening of production, which makes it possible that the country’s crops and products are visible in the markets of the countries of the Region.
President Farmajo hailed the growing commercial market for Somali fishermen and reaffirmed that it is time for us to compete with countries in the region for our national production.
He concluded by stressing that empowering Somali businesses and securing regional markets for our products will boost the country’s economy, youth employment opportunities and the level life of our people.
Source: SONNA
