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A strategic cooperation and service agreement signed with Türkiye’s OYAK pension fund will contribute to Somalia’s economy and help establish a regular economic cooperation mechanism between the two countries, Somalia’s Minister of Fisheries and Blue Economy Ahmed Hassan Aden said.
Aden said the agreement is highly significant for both sides within the framework of developing bilateral economic relations and emphasized that it represents a mutually beneficial partnership.
Aden said the cooperation in the fisheries sector will be carried out through the company SOMTURK and will benefit both the Somali and Turkish people.
He said revenues generated under the agreement will be shared through SOMTURK, ensuring that economic gains are reflected for both countries.
Aden added that the partnership is based on a win-win model and will provide direct benefits to the public.
The agreement is also expected to create employment opportunities for the Somali population, he said.
Aden said the agreement includes a component aimed at protecting Somalia’s marine resources in cooperation with Türkiye.
He said the partnership will contribute to maritime security while ensuring the sustainable protection of Somalia’s sea resources.
He added that Turkish companies benefiting from fishing activities in Somali waters will significantly increase Türkiye’s fisheries production and efficiency, while the cooperation will help safeguard Somalia’s maritime resources.
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