Somalia pursues economic growth through trade reforms and new export markets

Somalia is pursuing several economic initiatives to transition from an aid-dependent economy toward one driven by private-sector investment and trade. During a meeting between Italian Ambassador Pier Mario Daccò Coppi and Minister of Trade and Industry Gamal Mohamed Hassan, discussions focused on expanding local production and strengthening Somalia’s role as a regional logistics hub through port infrastructure and regulatory reforms.

The Somali government is also planning a “Made in Somalia” initiative to establish a national productive identity, improve quality standards, and increase the value of domestic goods for international markets, including the EAC, EFTA, and European markets.

In a separate trade development, Somalia is exploring Libya as a potential new market for its livestock exports. While the livestock sector is a vital economic pillar, exporting to North Africa presents significant logistical hurdles, including high transportation costs through the Suez Canal, long maritime distances, and security concerns.