Somalia, China Seek To Deepen Trade and Investment Ties

GOOBJOOG NEWS | MOGADISHU: Somalia has urged Chinese companies and investors to explore opportunities in the country as Mogadishu seeks to expand trade, investment and private-sector cooperation with Beijing.

Deputy Prime Minister Salah Ahmed Jama opened the Somalia-China Business Networking Forum in Mogadishu, bringing together government officials, diplomats, business associations and companies from both countries.

The forum was organised by Somalia’s Ministry of Commerce and Industry and brought together representatives of the Somali and Chinese chambers of commerce, as well as business leaders and investors.

Jama encouraged Chinese companies to invest in Somalia’s infrastructure, manufacturing, fisheries, agriculture, energy, transport and logistics sectors.

He said stronger commercial ties should go beyond trade and investment to generate jobs, increase domestic production and create wider economic opportunities for Somalis.

The meeting comes as Somalia seeks to use its growing economic and diplomatic ties with China to attract investment into sectors considered important to the country’s development, including its largely untapped blue economy and agricultural resources.

Somalia offers Chinese investors opportunities in infrastructure, logistics, fisheries and other sectors, while Mogadishu is seeking greater foreign investment to support economic growth and reduce reliance on external assistance.

The forum provides a platform for businesses from the two countries to identify investment opportunities and develop partnerships as Somalia works to strengthen its integration into regional and international markets.