Monday June 3, 2024
Mogadishu (HOL) — Prime Minister Hamse Abdi Barre of Somalia and his delegation have arrived in Seoul, South Korea, to participate in the inaugural 2024 South Korea–Africa Summit.
The summit will gather leaders from African nations, the African Union, and the African Development Bank to discuss vital topics such as finance, development, and infrastructure. The theme for the summit is "The Future We Make Together: Shared Growth, Sustainability, and Solidarity."
Farhan Mohamed Jimale, spokesperson for the Somali government, emphasized the summit's significance, saying, "Leaders will address global challenges such as climate change, food shortages, and health issues."
Prime Minister Barre is scheduled to deliver a speech at the summit, discussing Somalia's current situation and the progress made under his administration.
With a population of 1.4 billion and a GDP of $3.1 trillion, Africa plays a crucial role in the global economy. Analysts believe South Korea's engagement with Africa is strategic, as the continent contributes 3% to Korean exports and 1% to its imports.
This year, South Korea joins the UN Security Council (UNSC) as a non-permanent member for the 2024-25 term. As a new NATO partner, South Korea is poised to influence global policy, including issues affecting Africa. African leaders may use this opportunity to address sanctions and promote peace in conflict regions such as South Sudan and the eastern Democratic Republic of Congo.
Each African nation is expected to bring its own priorities. Kenya has already positioned itself as a top investment destination for South Korean investors during a pre-summit event, offering market entry strategies through the African Continental Free Trade Area (AfCFTA).