Somalia Signs Financial Cooperation Pact with Türkiye

GOOBJOOG NEWS|ANKARA: Somalia and Türkiye have signed a Financial Cooperation Agreement marking yet another step in relations between the two countries.

Somalia’s Defence Minister Abdulkadir Nur signed the pact with his Turkish counterpart Yaşar Güler Monday.

According to the agreement, Türkiye will provide financial assistance aimed at key military developmental projects in Somalia. This includes investments in critical infrastructure which are essential for enhancing the quality of life for the Somali National Armed Forces.

In February this year, the two countries signed a Defence Cooperation Agreement which will see Türkiye develop Somalia’s maritime capabilities ‘to combat illegal and irregular activities in its territorial waters.’

Following the signing of this pact, the Turkish parliament in July approved a motion to authorise the deployment of its navy to Somalia ahead of the oil exploration mission.

The Turkish vesse, Oruc Reisc arrived in Somalia last week in to conduct three-dimensional seismic studies in Somali waters, gathering data for oil and natural gas exploration over a period of approximately six to seven months.

The survey will cover an estimate 5,000 square kilometers in line with the agreement which granted Turkish Petroleum licenses for three offshore areas.