Somalia signs fishing deal with Chinese company

Somali leaders both at Federal and regional levels often disagree on issues related to the share of the country's resources, mainly the oil and fishing deals signed by the Somali government.

News Keydmedia Online
16 November 2022

MOGADISHU, Somalia - The government of Somalia has signed a fishing deal with the head of the China Beijing Chaoyang Holding company Mr. JZhuang Liang amid illegal fishing off the coast.

According to the multi-million dollar agreement seen by Keydmedia Online, the Chinese company will be investing in the country's fishing sector for a period of one year which could be extended.

The company will implement fish processing facilities in the country, to invest heavily in the production of Tuna fish that is abundant along the waters of the Indian Ocean, mainly in Somalia sea.

The fishing vessels of the Chinese firm are also granted fishing licenses through the country's fisheries laws. This agreement was signed by the Minister of Fisheries and Marine Resources of the Federal Government of Somalia Ahmed Hassan Aaden.

The utilization of the sea resources of our country is one of the first pillars of the plan of the government led by President Hassan Sheikh Mohamud," said the minister.

The minister called for a joint fight against illegal fishing and sent a warning message to the foreign countries whose vessels illegally enter the waters of Somalia, especially small vessels that cause great damage to the marine environment.

In 2018, the Somali government under Farmajo leadership granted 31 fishing licenses to China. The China Overseas Fisheries Association, which represents 150 companies, was allowed to fish for tuna in Somali waters.

A 2020 report released by the Heritage Institute for Policy Studies based in Mogadishu says that Somalia is losing $300 million per year in fishing revenue.

Somali leaders both at Federal and regional levels often disagree on issues related to the share of the country's resources, mainly the oil and fishing deals signed by the Somali government.

KEYDMEDIA English