By Dawan Africa - Reporter
Dubai(Mogadishu24)-The President of the Federal Government of Somalia, Hassan Sheikh Mohamud, has officially embarked on a journey to Saudi Arabia to participate in the Saudi-Arab-African Economic Conference, scheduled to begin tomorrow.
This conference aims to explore the potential for economic cooperation between African countries and Saudi Arabia, bringing together finance ministers, businessmen, investment leaders from both government and private sectors, as well as trade federations from Saudi Arabia and African countries.
The objectives include strengthening partnerships in food security, enhancing collaborations in agriculture, industry, mining, and commerce, and establishing new alliances between African and Saudi entities.
A statement from Villa Somalia said, “The president will soon travel to Saudi Arabia from Abu Dhabi, UAE, to attend the Saudi-Arab-African Economic Conference.”
Before this official trip, President Hassan Sheikh was in Abu Dhabi, engaging in discussions on collaboration between Somalia and the UAE.
Sources revealed that the president fell ill in Abu Dhabi and was admitted to a hospital for treatment, where he had undergone a shoulder surgery .
Somalia’s Finance Minister, Bihi Iman Egeh, already in Saudi Arabia for the conference, met with his Saudi counterpart in Riyadh.
The two ministers discussed Somalia’s economic reforms, post-debt relief possibilities, and future economic partnerships between the two nations.
“Today I met with the Minister of Finance of Saudi Arabia, Mohammed Al-Jaddan in Riyadh. We discussed Somalia’s ongoing economic reforms, Post HIPC possibilities, and future economic partnership between our two brotherly states. Strong Somali-Saudi relations are key to development,” stated Bihi Iman Egeh, Somalia’s Finance Minister.
The Federal Government of Somalia has been actively engaging in regional and international issues, prioritizing the signing of bilateral relationships with neighbouring countries, particularly in economic growth, maritime, security and defence.
It has over the past few years, managed to reform its financial institutions, which has attracted international investments, leading to economic growth.
These financial reforms and macroeconomic stability have played a vital role in Somalia’s journey toward debt relief, expected to be complete by December this year, clearing the loans contracted during the pre-civil war era.
