Friday May 24, 2024
Mogadishu (HOL) – Somalia and Oman have signed a Memorandum of Understanding (MoU) to develop Somalia’s fisheries sector, officials announced. The agreement, signed by Somalia’s Fisheries Minister Ahmed Hassan Adan and Oman’s Agriculture and Fisheries Minister Saud bin Hamoud Al Habsi, aims to strengthen economic ties and promote sustainable fishing practices.
Minister Adan believes that the partnership will stimulate Somalia's fishing industry by improving infrastructure and capacity building. Somali policymakers believe this MoU will attract foreign investment and foster a sustainable economic ecosystem, ultimately leading to economic self-sufficiency by harnessing Somalia’s abundant marine resources.
The MoU aligns with Somalia's strategic focus on its "blue economy"—which includes economic activities in the ocean and coastal areas such as fisheries, aquaculture, tourism, shipping, and offshore energy extraction. This sector is seen as a crucial engine for future economic prosperity.
Somalia has the longest coastline in continental Africa, approximately 3,333 kilometres, and a substantial Exclusive Economic Zone. Despite this, the country's marine resources are largely untapped. Key fish resources include large migratory species like tuna and smaller fish, crustaceans, and reef species.
The country has the potential to harvest over 200,000 metric tons of fish annually, yet current figures from the Ministry show that local artisanal fishers caught about 6,000 metric tons in 2022, while industrial foreign vessels harvested an estimated 13,000 metric tons, which is likely underreported.
However, Somalia’s fisheries sector also faces significant challenges. Illegal, unreported, and unregulated (IUU) fishing is a major issue, with commercial foreign vessels often exploiting Somali waters without proper authorization. This not only depletes fish stocks but also undermines the efforts of local fishers and the country's economic potential.
The partnership with Oman could improve responsible fishing practices, post-harvest management, and job creation in the sector. Industry experts believe that this collaboration will benefit Somalia's export capabilities and overall economic health, serving as a model for future deals. In recent years, Somalia has taken steps to regulate its fisheries sector, including issuing licenses to major fishing companies.
The MoU with Oman is Somalia's first partnership since signing a 10-year maritime security pact with Turkey, which officials say will strengthen Somalia's naval capabilities and reinforce its efforts to protect its territorial integrity.