Somalia has launched a Trade Information Portal with the assistance of the International Finance Corporation (IFC). Abdulkadir Sharif Shekhuna, State Minister of Commerce and Industry says this is part of the government’s move to simplify procedures, reduce cost and facilitate trade between Somali exporters and importers. “With the launch of the Somalia Trade Information Portal, we hope that our business community will have a useful tool to find the information necessary to facilitate their import-export activities,” Mr Sharif said in a statement issued in Mogadishu, capital of Somalia.
According to the official, more than 90 laws, regulations, procedures, and other trade-related measures from over a dozen government agencies can now be accessed online.
Businesses can also access licenses, permits, and applicable fees since the portal will provide the business community with easy access to information on import and export regulations and procedures.
“We are committed to closely coordinating with the public and private sectors as well as international organizations to ensure the sustainability of the portal,” Mr. Sharif said, adding the portal aims to improve the predictability and transparency of Somalia’s business environment and provide foreign and domestic investors with a quick and timely access to trade rules and regulations of the country.
The Trade Information Portal will help the business community in Somali, have first-hand information on trade laws.