Somalia Establishes A Portal For Trade Information
Somalia establishes a portal for trade information
On Wednesday, Abdulkadir Sharif, State Minister for Commerce and Industry (MoCI), launched the Somalia Trade Information Portal (STIP), which will improve business owners' and investors' access to trade and regulatory information.
The site, https://www.stip.gov.so/, is now available in Somali and English and serves as the official data portal for freely accessing and downloading trade-related laws, procedures, and forms, according to a press release issued by the Ministry of Commerce and Industry following the launch event.
Users of the portal will have access to a variety of standard forms, procedures, easy-to-follow flowcharts, and other detailed guides for obtaining various government registrations, permits, and guidance on the export and import of goods from and into Somalia.
Somalia's newly launched Trade Information Portal
Hon. Abdulkadir stated during the launch event that citizens, importers, exporters, and foreign investors now have access to up-to-date trade regulatory information and news.
Users can also request and receive prompt assistance from the newly established STIP office, which is responsible for maintaining the site, updating content, and responding to public requests.
The minister added that the platform would also assist Somalia in achieving the spirit of transparency and speeding up service delivery. The portal's establishment is also viewed as a necessary first step toward long-awaited trade reforms necessary to stimulate regional trade and to bolster Somalia's bid to join the World Trade Organization.
MoCI Director General Abdiaziz Ibrahim lauded the STIP initiative, stating that its launch is a critical and timely milestone for Somalia.
“With the Covid-19 lockdown still in effect, our offices are operating with a limited number of civil servants. The portal will thus assist us in significantly reducing foot traffic, as we have now made a variety of frequently requested information and documents available online.”
Abdiaziz stated that MoCI is transitioning the majority of its business services online and that there will be "no need to visit or queue at our offices for information" going forward.
Abdirahman Abdullahi Galaanbi, deputy chairman of Somalia's Chamber of Commerce and Industry (SCCI), lauded the "new innovative system" in his speech. He stated that by providing information, the site will save traders time and make doing business in Somalia "simple and fast."
“Lack of capital and trade information are two of the most significant impediments to women-owned businesses in Somalia. Young female traders in particular are disproportionately affected. I will share the site with our network in the hope that it will assist them in navigating the complex requirements of international trade,” said Iqra Dhool, director of Somali Women in Business (SWIB) Forum, an organization that connects women business owners to share information and discuss pressing issues.
Ahmed Warsame, the portal's trade and marketing director, demonstrated the portal's features and functionality during today's launch event at the Decale Hotel in Mogadishu. Over 100 representatives attended the event, including trade directors from numerous ministries, chambers of commerce, private sector organizations, and businesses, as well as virtually every member of the international community.
Moving forward
Somalia has become the sixth country in Eastern Africa to launch an official trade information portal, following the launch of similar initiatives by other countries in the region recently.
STIP was established through the collaboration of more than 20 ministries, agencies, and the MoCI, with technical assistance from the International Financial Corporation (IFC)/World Bank and funding from Denmark, the EU, and the UK's FCDO.
