By David Musyoka
Friday, March 21, 2014
NAIROBI (Xinhua) -- The UN, the EU and Somalia have called on countries and businesses in the Middle East to invest in the Horn of Africa nation to help contribute to her economic recovery.
According to the UN Food and Agriculture Organization, Somalia exports 4.7 million head of livestock to Gulf states in a trade boom that has grown since 2009 when Saudi Arabia lifted a nine- year disease related ban.
Officials told participants at the just concluded Somali Producers' Conference and Exhibition 2014 (SOPEC), which ended in the United Arab Emirates (UAE) commercial capital Dubai to invest in farming, fisheries and livestock sectors.
FAO's head of office in Somalia Luca Alinovi said in a statement released here Friday that the three-day international conference targeting foreign investors to boost recovery brought to light a crucial debate about the role of the Somali economy in the peace process.
"This element has been missing for quite some time in the economic foundation of the country and Somalia's policy and development debate. The country's entrepreneurial capacity is and will remain a critical inroad in the peace process and the country's future," Alinovi said in a statement received in Nairobi.
FAO Somalia, under its commercialization concept of agro- economic development and value addition, designed the program aimed at rekindling Somalia's trade links with the Middle East.
Substantive efforts from the Somali producers over the past four years with the increased support from FAO and other development partners has increased and sustained investment in Somali livestock, agriculture and fisheries sectors with a major objective of reducing the country's food insecurity but also revamp the collapsed economies as well as the export potential.
The statement said this week's event recommended a continuation to such efforts by the private sector in Somalia and Middle East governments to enhance and grow the three productive sectors and removal of trade impeding barriers to facilitate free movement of goods and people.
SOPEC is a unique industry-led event linking Somali businesses in farming, fisheries and livestock to international markets under the technical support of FAO with funding from the EU.
With a new political dispensation in Somalia and existing stability in Somaliland and Puntland as well as the increasing peace and infrastructure in the Ethiopian Somali region and economic growth in the other Somali regions in Kenya and Djibouti; officials say there are already credible signs of recovery and potential economic growth.
Somalia's Minister for Trade and Industry Adan Mohamed Nur hailed the event as unique and pioneering and pledged his government's support.
"The Somali government is ready to do everything to promote our producers in order to link them to markets like in the UAE and other countries and I would like to thank FAO and the EU for this effort," said Adan.
Somali producers of agriculture, fishery and livestock were once Africa's best and most competitive economic drivers leading in the trade and substantive export of millions of livestock, hundreds of thousands of tons of banana, seafood and sesame export.
However, the late 80s and early 90s civil strife and subsequent collapse of the central government weakened the export of livestock while the banana and seafood trade and export collapsed entirely.
EU Ambassador to Somalia Michele Cervone d'Urso said that the event, which was attended by many business people, government representatives and producers, highlighted changing times in Somalia.
"Let a strong message come out of this conference that change in Somalia is coming and will transcend political and security challenges," Michele said.
"So let's make this conference a turning point in helping Somalia re-establish itself as Africa's foremost economic and business engine."
At SOPEC, participants had an unmatched two-day perspective on the industry as it is now and its future possibilities.
The platform is offering participants an exhibition of Somali products from all sectors and an opportunity to meet and discuss industry specific issues, and network with a broad group of participants in a world-class event.
The event is also bringing to the spotlight a number of constraints to be solved in order for the businesses to be more success and investments less risky.
Source: Xinhu