Somalia’s Ministry of Fisheries Signs Agreement with Turkish Company

By A Yusuf 

MOGADISHU, Somalia — June 17, 2025 — The Federal Government of Somalia has taken a significant step toward revitalizing its blue economy, signing a major cooperation agreement with Turkish conglomerate OYAK to boost the development of the country’s fisheries sector.

The agreement, signed by Somalia’s Minister of Fisheries and Blue Economy, Mr. Ahmed Hassan Aden, and Mr. Sermaye Yatırımları Anonim Şirketi representing OYAK, marks a new era of foreign investment aimed at unlocking the economic potential of Somalia’s vast marine resources.

Under the terms of the agreement, OYAK will engage in direct investment across multiple areas of Somalia’s fisheries sector. Key focus areas include:

• Development of modern fisheries infrastructure.
• Expansion of fish production capacity,
• Improvement of fish quality to meet global market standards.
• Establishment of fish processing and export industries.
• Strengthening the fight against illegal, unreported, and unregulated (IUU) fishing.

The partnership is seen as a vital opportunity to not only increase revenue from Somalia’s maritime resources but also to address unemployment by creating new job opportunities for Somali youth.

Officials say the deal reflects growing international confidence in Somalia’s economic future and highlights the government’s commitment to sustainable development in the marine sector.

The Ministry emphasized that this is part of broader efforts to rebuild key industries that can drive inclusive economic growth and long-term stability in the country.

Despite this agreements signed between Turkey and Somalia, political and economical analysts say Turkey holds deeper and long-term strategic interests in the country — particularly focused on the extraction of Somalia’s untapped natural resources, especially oil and gas, which the Somali people have long been unable to benefit from.