News

Somalia and Uganda Officially Signed MOU for Bilateral Trade Cooperation

Summary

The newly appointed Minister of Commerce and Industry of Federal Republic of Somalia H.E. Hon. Jibril Abdirashid Haji Abdi as part of the president Hassan Sheikh Mohamoud’s state visit to Uganda on 9th August 2022 has officially signed a MOU of bilateral trade cooperation between Somalia & Uganda with his counterpart Hon. Mwebesa Francis in Kampala.

Updated on : 20-10-2022

The newly appointed Minister of Commerce and Industry of Federal Republic of Somalia H.E. Hon. Jibril Abdirashid Haji Abdi as part of the president Hassan Sheikh Mohamoud’s state visit to Uganda on 9^th August 2022 has officially signed a MOU of bilateral trade cooperation between Somalia & Uganda with his counterpart Hon. Mwebesa Francis in Kampala.

The main objective of this Memorandum of Understanding is to galvanize relations of the two Parties through purposeful promotion of bilateral economic and commercial activities, and promote bilateral trade relations between the parties on the basis of mutual benefit.

Under the framework of this MOU, Somalia will provide Uganda an opportunity for being a conduit through which Commerce and Trade with neighbouring countries such as Yemen, Ethiopia, Djibouti, and access to the Indian Ocean and commercial contacts in the Middle East and Asia may be fostered. In the same way, Uganda will provide the same opportunity to Somalia to access such opportunities in the Great Lakes region, and the interior of East and Central Africa.