Seoul(Mogadishu24)-Somali Prime Minister, Hamza Abdi Barre delivered a compelling keynote address at the 2024 Korea-Africa Summit today, emphasizing the critical themes of shared growth, sustainability, and solidarity between the Republic of Korea and African countries. His speech highlighted Somalia’s potential for collaboration and investment, marking a significant milestone in the nation’s path towards stability and economic development.

Prime Minister Barre underscored Somalia’s promising landscape for Korean businesses, particularly in sectors such as natural resources, agriculture, and renewable energy. He pointed to recent strides in stability and economic progress as pivotal factors that make Somalia an attractive destination for investment.

“We look forward to seeing Korean investments in renewable energy in Somalia, enhancing agricultural productivity, supporting sustainable practices, and building modern health infrastructure,” stated Prime Minister Barre. “In Somalia, the opportunities for cooperation and investment are vast and promising. Our country is at a critical moment, having achieved significant milestones in our journey towards stability and growth.”

Somalia’s Strategic Position and Economic Prospects

Prime Minister Barre also highlighted Somalia’s strategic location at the crossroads of Africa and Asia, offering unique advantages for economic and trade partnerships. He mentioned Somalia’s recent accession to the East African Community (EAC) as a key development, enhancing the nation’s potential as a gateway to the East African market, which boasts a combined population of over 300 million people.

“The recent debt relief agreement marks a new era of economic potential, freeing up resources to invest in vital sectors such as infrastructure, economic growth, and human capital development,” he noted, emphasizing the transformative impact of these financial improvements.

Prime Minister Barre’s address at the Korea-Africa Summit not only underscored the promising prospects for Somali-Korean cooperation but also reaffirmed Somalia’s commitment to fostering a sustainable and prosperous future. His call for unity and shared growth resonated with the summit’s broader goals, setting a hopeful tone for future collaborations between Korea and African nations.