Egypt and Somalia are seeking bilateral economic cooperation.
On Thursday 21st April 2016, Egypt’s Prime Minister Sherif Ismail met Somali Minister of Trade and Industry Abdul Rashid Mohamed Ahmed where they discussed the importance of enhancing bilateral cooperation between the two nations.
Ismail confirmed importance of identifying various fields of interest in which the two countries can cooperate to achieve common interests.
Cabinet spokesperson Hossam Qawesh state that the two countries identified to cooperate in industrial production and livestock. Egypt also noted Somalia’s marine resources that can promote trade in fishery sector. Egypt also said it will find a trade center for goods from Somalia.
Egypt’s 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.
On his part, Somali Minister of Trade and Industry noted that a Memorandum of Understanding (MoU) was signed to promote trade exchange and cooperation between the two countries.