President Mohamud Meets Somali Business Leaders in Egypt to Discuss Trade Challenges

GOOBJOOG NEWS | EL-ALAMEIN: President Hassan Sheikh Mohamud met with business leaders Monday to discuss reforms within the country’s Chamber of Commerce and Industry, challenges facing traders and ways to strengthen cooperation between the government and private sector.

The talks in the Egyptian coastal city of El-Alamein brought together the president and a delegation led by Yasin Mahmoud Ibar, chairman of the Somali Chamber of Commerce and Industry.

Somalia’s Minister of Commerce and Industry Gamal Mohamed Hassan and the country’s ambassador to Egypt, Ali Abdi Aware, also attended the meeting.

The discussions focused on reform efforts at the chamber, the broader difficulties facing Somali traders and ways the government and business community could work more closely together, according to SONNA.

The meeting comes as Somalia seeks to expand economic activity and create a stronger environment for private-sector investment. Businesses remain central to the country’s trade and economy, while traders continue to operate in an environment shaped by infrastructure, financing, regulation and security challenges.

The chamber serves as a link between Somalia’s business community and government institutions on matters affecting commerce and investment. No specific agreements or new measures were announced following the meeting.

The talks took place in El-Alamein as Somali officials engage with business and economic stakeholders in Egypt, where Somalia has been seeking to promote trade and investment opportunities.

Closer engagement with the private sector is part of wider efforts by the federal government of Somalia to strengthen domestic economic activity and attract investment, while business groups have continued to call for reforms that can make trade and investment easier.

The meeting provided an opportunity for the government and representatives of Somali businesses to discuss those challenges directly, but it was not immediately clear whether the talks would lead to specific policy changes or new initiatives.