New business chamber to stimulate Somalia-Europe trade
A new European Somalian Business Chamber (ESBC) has been officially launched in London to promote business relations and commercial activity between Somalia and Europe.
Somalia is one of the African countries which is expected to have one of the biggest growth stories over the next five years.
Consequently, the chamber has been established to help both Somalian and European companies take advantage of economic opportunities by providing networking and developing trade initiatives between the two.
The chamber is chaired by the Rt Hon Lord Tony Baldry, a Conservative member of parliament who is supported by several leading public figures including ESBC director Sarosh Zaiwalla, a senior partner at Zaiwalla & Co. He was also the first Asian to set up an Indian law firm in the city of London.
The chamber represents businesses of all sizes and sectors from across Europe and Somalia and will also deliver information, advice and services.
These will include: Promotion of commercial opportunities and introductions to political and industry decision-makers, potential partners, clients, investors and in-country agents through participation in its programme of networking and trade events.
It offers assistance in addressing specific business-related problems and legal issues, including applications for multi-entry business visas.
It also provides business intelligence and market research, delivered to members in the form of newsletters, email updates, exclusive reports and one-to-one briefings.
The ESBC is now working hand-in-hand with the Somali business community to set up a Somali embassy in London which will provide European businesses a first point of contact for any matter relating to the country and trade relations between the two.