Mogadisho[SONNA]-Hormuud Company on Monday hosted an annual conference on promoting local production in Somalia as well as opportunities and challenges here in the capital Mogadishu.
Minister of Trade of Somalia, Jibril Abdirashid Haji Abdi, the chairman of the Somali Chamber of Commerce, prominent business figures, the leadership of Hormuud, and distinguished guests attended the conference.
In his address, the Minister shed light on the stark imbalance in trade between Somalia and the rest of the world. He revealed that Somalia had imported goods valued at over 6 billion dollars last year, while its exports amounted to a mere 50 million dollars.
The Minister articulated a firm commitment to intensify efforts aimed at enhancing domestic production, enabling Somali businesses to become self-sufficient.
The Chairman of the Somali Chamber of Commerce echoed these sentiments, emphasizing Somalia’s inherent wealth. He articulated hope that the conference would serve as a catalyst for the nation’s self-sufficiency, enabling the Somali population to become self-reliant and less dependent on foreign aid.
