The federal government of Somalia has signed a landmark strategic partnership with Turkey’s OYAK, the largest supplementary pension fund, to combat illegal fishing.

The federal government of Somalia’s minister of fisheries and blue economy, H.E. Ahmed Hassan Aden, said the agreement is set to combat illegal fishing, upgrade port and processing infrastructure, boost sustainable fish exports, and create jobs for Somali youth.

“This is a historic moment for our nation. We are partnering with a global giant, OYAK, not only for protecting our waters but also to empower our people and revive our blue economy,” said Minister Aden.

OYAK is the largest supplementary pension fund in Turkey and has invested in the mining sector, blue economy, metallurgy, and logistics.
Somalia has the longest coastline in mainland Africa, stretching from the Gulf of Aden to the Indian Ocean, yet it remains one of the most underutilized.

Recent reports indicated that the fisheries sector contributed 1% – 2% of Somalia’s national GDP, yet the estimates indicate that the fisheries catch annually would rise to a tune of 340,000 – 420,000 metric tons, yet it still fell short of what was recorded from the local fishing industry in Somalia.

The partnership with OYAK is set to unlock Somalia’s potential by resolving illegal fishing in the Somali waters by foreign vessels, which have targeted the yellowfin tuna in the Somali waters.

Access to the international market Already the Ministry of Fisheries had been offering training to locals across the coastal strip; this partnership will further resolve the standardization issues to reach the lucrative markets in North America and Europe.