The Ministry of Petroleum and Mineral Resources of the Federal Government of Somalia has signed a Memorandum of Understanding (MoU) with the State of West Virginia in the United States, which focuses on cooperation in the exploration, production, processing and development of key minerals.
According to the ministry, the agreement aims to establish a cooperative framework that promotes investment, exchange of technical knowledge and development of the Somali mineral value chain, according to a press release issued by the Ministry of Petroleum.
The agreement was signed on the Somali side by the Minister of Petroleum and Mineral Resources, Dahir Shire Mohamed, while on the West Virginia side by the Secretary of the State Senate, Kris Warner.
The signing ceremony took place at the West Virginia State Senate, and was attended by a delegation from the Federal Government of Somalia led by the country’s Deputy Prime Minister, Salah Ahmed Jama.
On the West Virginia side, the meeting was also attended by members of the state Senate, including Senate President and Lieutenant Governor Randy Smith.
The press release stated that the West Virginia Senate also issued a formal resolution supporting the bilateral partnership, which reflects the strategic importance of this new partnership and the state’s desire to strengthen economic and technical ties with Somalia.
According to the agreement, the partnership will focus on the exploration and production of key minerals, the development of mineral processing to increase domestic value, and the exchange of technical knowledge and expertise.
The agreement is also said to encourage US companies to explore investment opportunities in Somalia, particularly in the areas of mineral exploration, production, and processing.
The Federal Government of Somalia described the agreement as a step in its efforts to develop the country’s natural resources efficiently, with the aim of attracting international investment and boosting the economy and job opportunities.
