The Ministry of Fisheries and Blue Economy of the Somali Federal Gov’t and Turkish based firm OYAK signed a crucial agreement which is aimed to develop the fish resources in Somalia.
The objective behind the deal is to exploit the fish resources in the country. The agreement which was termed as a strategic, focuses on crucial points which include the development of the economy, creation of employment opportunities, and the protection of the country’s natural resources.
The points that the two sides agreed upon include:-
- Direct investment will be made to ports, fish storage facilities and fishermen equipment.
- To upgrade fish production in order to cover the needs at home and abroad.
- To enhance the quality of fish in order to reach foreign int’l markets while in consideration of fish quality control.
- Establishing modern fish processing facilities which will enhance fish exports, and will create jobs for the Somali youth.
- Improving the mechanism in which to combat illegal fishing through supervision, formulating laws and establishing int’l working cooperation.
The agreement was signed by the Minister of Fisheries and the Blue Economy of the Somali Federal Gov’t, Hon. Ahmed Hassan Adan while Hon. Sermaye Yatırımları Anonim Şirketi signed on behalf of OYAK Turkish based firm, and is one of top leaders of the company.
The Somali Minister of fisheries has said that the agreement was a huge step taken in order to spur economic growth in the country, and will pave the way for employment opportunities for the Somali Youth.
