Somalia Goes Legal and Goods Pile Up

Xinhua
Thursday, April 18, 2013

Somalia begins to build its national tax revenue from imported goods with new freight building up at the Port of Mogadishu.

For the first time since the country slid into anarchy, container arrivals hit more than 1,200 in March 2013, reports Xinhua.

The Port of Mogadishu was hit by war and piracy that kept off international shipping liners away from its coastline. State officials are presenly in talks with several international investors to modernize the port in readiness for the cargo buildup that is critical in helping to revitalize the stalled national economy.

Somalia's Finance Ministry is yet to compute the annual gross domestic product growth that will build up from the past few months of trade generated by the Port, but the latest port figures show that in March, the number of freight ship docking at the Port more than doubled to 40 from an average of 15.

Source: Xinhua

 

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