Türkiye’s OYAK Group and Somalia’s Ministry of Fisheries and Blue Economy signed a cooperation agreement on Wednesday, 17 December, granting Turkish fishing interests access to Somalia’s territorial waters, widely regarded as among the world’s richest fishing grounds.
The deal is designed to unlock new employment opportunities for Somalis while strengthening the country’s integration into global trade networks through the sustainable exploitation of marine resources.
The agreement was formalised in Ankara by Somali Minister of Fisheries and Blue Economy Ahmed Hassan Aden and OYAK General Manager Murat Yalçıntaş, in the presence of senior officials from both countries, including Türkiye’s National Defence Minister Yaşar Güler. It provides for the centralised, sustainable and regulated management of fishing activities across Somalia’s territorial waters and exclusive economic zone, with a strong emphasis on marine conservation, licensing, monitoring and compliance.
As part of the framework, the SOMTURK Company has been established to oversee all fishing licences within Somalia’s exclusive economic zone, with permits to be issued exclusively through the entity. Authorities say the arrangement will ensure transparency and accountability, deepen bilateral economic cooperation, and drive job creation through the development of fish processing and related value chains.