Regional economic integration advanced significantly in Mogadishu as Somalia courts EAC investors for fisheries and manufacturing growth during a high-level trade roundtable organized with regional business leaders. The joint forum, held in collaboration with the East African Business Council, focused on maximizing market access across the East African Community, a regional trade bloc representing more than 331 million consumers and an aggregate economy exceeding 357 billion dollars. Officials and private sector representatives emphasized that full participation in the single market is vital for attracting capital, expanding infrastructure, and boosting national production.
Speaking at the trade gathering, Yasin Mohamud Ibar, chairman of the Somali Chamber of Commerce and Industry, highlighted the country’s vast untapped marine resources and industrial potential. Ibar urged regional business executives to direct direct investments into coastal infrastructure, modern boat building, deep-sea fishing ventures, and cold-chain logistics to capture the commercial value of continental Africa’s longest coastline. Furthermore, commercial leadership called for established regional firms to partner with domestic enterprises to establish local value-addition factories, ensuring that raw agricultural, livestock, and marine commodities are processed domestically prior to regional export.
Government representatives reinforced the structural advantages of deepening economic ties across East Africa. Commerce Minister Gamal Mohamed Hassan noted that institutional membership must transcend administrative agreements to deliver practical cross-border investment and trade opportunities. Minister Hassan underscored that the nation’s strategic position along the Red Sea and the Indian Ocean serves as a natural maritime gateway, connecting landlocked East African economies to major commercial lanes across Asia and the Middle East. To maximize these geographical advantages, public officials advocated for harmonized customs procedures, simplified cross-border travel regulations, and integrated digital payment networks.
Economists view the business dialogue as a critical step in structural economic transformation and job creation. Transitioning from raw resource extraction toward domestic manufacturing and commercial aquaculture is expected to generate sustainable employment for young demographics while expanding the national tax base. As Somalia courts EAC investors for fisheries and manufacturing growth, business associations and policymakers continue to work on aligning national trade regulations with community standards to foster an inviting environment for long-term regional capital.
Black News 
