Turkish warships and fishing vessels arrived in Djibouti on Sunday and are expected to proceed to Mogadishu, as Somalia and Türkiye prepare to announce the implementation of a bilateral fisheries cooperation agreement.
The agreement focuses on cooperation in exploring, developing and utilising Somalia’s marine resources, particularly the country’s vast fishing potential.
The joint company SOMTURK has been tasked with overseeing the development and regulation of Somalia’s fisheries sector, including the licensing process for foreign fishing vessels, monitoring fishing activities, protecting marine resources and attracting investment.
The company is also expected to play a role in fish processing, exports and the broader management of Somalia’s fisheries resources.
The initiative is projected to generate up to $1 billion annually, although the financial target and its implementation details remain to be clarified.
