Somalia Seeks To Boost Trade with China at Beijing Investment Forum

GOOBJOOG NEWS | BEIJING: Somalia has stepped up efforts to attract Chinese investment and expand its exports, hosting a high-level business forum in Beijing aimed at strengthening trade and supporting the country’s industrial growth.

More than 300 Somali and Chinese business leaders, investors and representatives of chambers of commerce attended the Somalia Industrialization and Special Economic Zones Forum, where officials promoted investment opportunities across key sectors of the economy.

The event, held alongside celebrations marking the 66th anniversary of Somalia’s independence, focused on how China’s zero-tariff policy for many African exports could help accelerate Somalia’s industrialisation and improve access to one of the world’s largest consumer markets.

Opening the forum, Somalia’s Ambassador to China, Dr Hodan Osman Abdi, said the tariff-free access offered a significant opportunity for Somali businesses to increase exports while attracting investment into manufacturing and value-added industries.

She said Somalia’s strategic location on the Horn of Africa, its long coastline, abundant natural resources and youthful workforce positioned the country as an emerging destination for trade and investment.

Commerce and Industry Minister Gamal Mohamed Hassan called on Chinese companies to explore opportunities in fisheries, agriculture, livestock, renewable energy and manufacturing, saying the government was implementing reforms designed to improve the investment climate and support private sector growth.

The Somalia Investment Promotion Office (SOMINVEST) presented several flagship projects under the government’s National Transformation Plan, including the proposed New Mogadishu Special Economic Zone, which officials said is intended to expand industrial production, improve logistics and attract foreign investment.

The forum also featured business-to-business meetings between Somali and Chinese companies seeking commercial partnerships, reflecting growing economic ties between the two countries.

China has become an increasingly important development and trading partner for Somalia, supporting infrastructure, education and economic cooperation. Somali officials hope Beijing’s expanded market access for African exports will help diversify the country’s economy, create jobs and reduce its dependence on imported goods as it pursues long-term economic recovery.