AGP Executive Report
Last update: 3 hours agoResource Partnerships: Somalia and Türkiye discussed cooperation in oil and minerals, with both sides pointing to the potential for joint projects to support economic development. Fisheries Investment: Somalia produces about 30,000 tonnes of fish annually, just 5% of estimated capacity, and is seeking investment in vessels, cold storage, processing and export infrastructure. The sector could generate up to $3 billion a year and 210,000 jobs, according to government estimates. Trade Links: Somalia’s parliamentary speaker toured Djibouti’s ports and free zone to explore logistics and port-management cooperation. Somalia has also gained duty-free access to the EU market, widening potential export opportunities. Currency and Shipping: Somalia remains heavily reliant on the U.S. dollar, with no firm timetable for restoring a credible shilling. Renewed piracy off Puntland, including the hijacking of an Iranian fishing vessel, has also highlighted risks to regional maritime trade.
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