Egypt and Somalia seek bilateral economic cooperation

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Prime Minister Sherif Ismail met Somali Minister of Trade and Industry Abdul Rashid Mohamed Ahmed on Thursday.

Ismail confirmed the importance of enhancing bilateral cooperation between Egypt and Somalia in various fields to contribute to achieve common interests between the two countries, according to a statement issued by Egypt’s cabinet on Thursday.

Cabinet spokesperson Hossam Qawesh stated the two countries intend to cooperate in industrial production and livestock, while also taking advantage of Somalia’s marine resources to promote trade in the fishery sector. Egypt will found a trade center for goods in Somalia.

“The prime minister instructed the cabinet to send a government trade delegation in partnership with the private sector to visit Somalia to study the implementation of the proposed cooperation initiatives and work to meet Somali’s commodity needs, particularly in relation to medicine supplies,” Qawesh said.

For his part, Somali Minister of Trade and Industry noted that a MoU was signed to cooperate between the two countries to promote trade exchange.

The minister highlighted fisheries, arable lands and livestock as sectors prime for Egyptian investment.

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