Somalia ready to do business with Turkey – and the rest of the world
Posted Sunday, June 10 2012 at 18:52
Official statistics indicate that Turkey’s trade volume with sub-Saharan Africa increased tenfold from only $742 million in 2000 to almost $7.5 billion in 2011.
Cynics claim that as the “new kid on the block”, Turkey is too inexperienced in its dealings with a highly complex and fragmented Somalia.
The Nairobi-based aid community is worried that Turkey may end up supporting and financing warlords and tycoons.
One aid worker in Nairobi told Reuters that Turkey’s achievements in Somalia was making the rest of the aid community look like “fools”.
But supporters of Turkey’s hands-on approach say that the country has managed to achieve in less than one year what the UN and donors have been unable to achieve in 20.
The Istanbul Declaration endorsed last week by representatives of 54 countries noted the importance of creating “the right investment climate” in Somalia and the need for better regulation of development assistance through a Joint Financial Management Board.
The board should bring some sanity into the finances and revenue received and generated by Somalia and reduce rampant corruption.