Türkiye's army pension fund OYAK and Somalia’s Fisheries and Blue Economy Ministry on Wednesday signed a strategic cooperation and services agreement to cooperate in the fisheries sector.

The signing ceremony, held at OYAK headquarters in the capital Ankara, was attended by Turkish National Defense Minister Yaşar Güler, Somali Ports and Marine Transport Minister Abdulkadir Mohamed Nur, Somali Fisheries and Blue Economy Minister Ahmed Hassan Aden, Turkish Chief of General Staff Gen. Selçuk Bayraktaroğlu, OYAK Chair Zekai Aksakallı and Murat Yalçintaş, the CEO of OYAK.

The agreement aims to ensure that fisheries activities in Somalia are carried out under a centralized, sustainable and fully registered framework.

As part of the agreement, SOMTURK, a company established within this framework, will be responsible for managing all licensing processes related to fisheries activities in Somalia’s exclusive economic zone. Fishing permits in Somali territorial waters will be issued exclusively by SOMTURK.

The agreement will enable the sustainable use of Somalia’s rich marine resources while also providing the Turkish fisheries sector with access to Somali waters, which are considered among the world’s most abundant fish reserves.

In addition to strengthening economic, commercial and technical cooperation between the two countries, the agreement is expected to establish a revenue model supporting the sustainable return objectives of OYAK, which operates as a complementary pension fund.

It also aims to increase employment through the development of fish processing and supporting activities, strengthen the local economy and ensure that the added value generated is reflected in the welfare of the Somali people.

Somalia has enjoyed close economic, diplomatic, and military ties with Türkiye since President (then-Prime Minister) Recep Tayyip Erdoğan visited Somalia in 2011 – the first non-African leader to do so in over 20 years.

Türkiye has strong historical ties with Somalia on the principle of "win-win" relations, including more than 150 development aid projects carried out by the Turkish Cooperation and Coordination Agency (TIKA) since 2011.

Türkiye also has its largest embassy in Africa in Mogadishu and has built its largest overseas military facility there to train the Somali National Army.