Economic partnership with Somalia

Turkey and Somalia on Friday signed a pact to boost their strategic economic partnership.
Turkish Prime Minister Akdag said that Turkey invested $100 million in Somalia and this is the start of igure a prompt bigger cooperation. According to Akdag, the bilateral trade volume would rise from about 120$ million in 2016 to $200 million. Akdag added that both countries should carry through 2016 memorandums of understanding in such areas as energy, mines, electricity, higher education, agriculture, and maritime affairs. The countries signed a memorandum of understanding on fishing and fisheries, which contemplates the possibility for Turkish fishermen to fish in Somalia’s territorial waters. Turkey and Somalia have long enjoyed friendly relations, as Turkey has invested in many areas to help modernize Mogadishu, where Turkey opened its largest military training academy abroad.