It was an honor and privilege to deliver the keynote speech at the prestigious Taiwan-Africa Market Networking Luncheon held in Taipei. The event, meticulously organized by TAITRA and the Bureau of Foreign Trade under the Ministry of Economic Affairs of Taiwan, gathered over a hundred esteemed Taiwanese enterprises eager to explore the untapped potential of Somaliland and the broader African market.
Addressing the attentive audience, I highlighted the immense prospects that Somaliland offers as a gateway to Africa. Emphasizing our strategic geopolitical location and the robust trade infrastructure at our disposal, including the expanded Berbera Port, the Berbera Corridor, and the flourishing Berbera Free Economic Zone, I illustrated the promising avenues for mutually beneficial partnerships.
I shared insights on how Somaliland stands prepared, with its modernized trade infrastructure, to facilitate and support Taiwanese enterprises looking to expand their presence in Africa. Expressing Somaliland’s open invitation and eagerness to engage in business collaborations, I proudly conveyed that we are eagerly anticipating Taiwanese enterprises to initiate substantial trade relations with Somaliland businesses and across the African continent.
This luncheon served as a pivotal moment to reinforce the message that Somaliland is indeed open for business and ready to forge enduring partnerships with Taiwan, fostering extensive trade and economic growth through the Republic of Somaliland.
SPEECH BY THE DIRECTOR-GENERAL OF THE MINISTRY OF TRADE AND TOURISM OF THE REPUBLIC OF SOMALILAND
Greetings from Taiwan’s Horn of Africa Ally, the Republic of Somaliland.
- Somaliland is a country with large economic potential and immense business opportunities for the development of new markets. Besides the fact that it is blessed with massive natural resources, a fast-expanding economy and a growing middle class, it is also well known for the exceptional hospitality of its people.
- Somaliland maintains a strong system of investment rights and a straight-forward corporate law where investors will get adequate protection and benefit from their investments.
- Based on Somaliland’s Five-Year Development Plan (National Development Plan 2018-2021) and Somaliland Vision 2030, there are six sectors in the economy that are regarded as priority sectors for investment, and the government is profoundly encouraging both foreign and domestic investments to have open and transparent access Banking & Finance, Agriculture, Livestock, Fisheries, Extractive Industry and Energy.
- Because of its strategic geopolitical location and advantageous position between the East African interior and the Middle East with 850 km of coastal shipping routes and the Berbera Port, and its strong security situation, Somaliland has the potential for massive growth in terms of free trade, trade facilitation, transit and transport corridors for the rest of the Horn, East and Central African countries.
- Finally, Africa has reached a continental trade agreement that will make it easier for goods to move between African countries. As a democratic and peaceful country, Somaliland is ready to be your gateway to Africa by taking advantage of our strategic geopolitical location and using our modernized trade infrastructure, including Berbera Port and the Berbera Economic Zone is close to the Port of Berbera, which makes it the new integrated maritime, logistics, and industrial hub in the Horn of Africa and a new value-added gateway for the region.
- Somaliland desires to enhance its business relations with Taiwan’s government and private sector. We are open for business and proudly waiting for Taiwan’s enterprises to start massive trade with Africa through the Republic of Somaliland.
- Thank you very much, and I wish you a very successful business meeting!
