The Country Is Peaceful And The Population

1056 Words5 Pages
Somaliland introduced its secession in 1991 and has operated as a less independent country since then; it has its own Government system and constitution. It even have a central bank that prints its own currency called Somaliland shilling. The country is peaceful and the population is about three million and most of the population is Muslim. The world, however, has refused to recognize Somaliland as an independent country. Not wanting to encourage numerous other separatist movements, Western countries remained dedicated to supporting the embattled Transitional Federal Government within Somalia, which opposes the separation.
Now let me talk about the Economy in Somaliland even though Somaliland is not totally independent country and still
…show more content…
But now Somaliland government need to have much stronger structure in place to support the country and the people to order have those regulatory frameworks, which promote better business. I think the way Somaliland government could do these regulatory frameworks is if united nation recognize Somaliland as an independent country.

Trade difficulties
Somaliland not a recognize country so due the nation is not a member of any regional economic blocs, and conducts very few formal trade deals with other countries. The western countries currently have no trade agreements with Somaliland, ant it’s not a member of the World Trade Organization. Added to the difficulties local Somaliland businesses face when competing regionally and globally.
According to data from the European Commission’s Directorate-General for Trade In 2011, Somaliland exported goods worth nearly $300 million. While the figures are significantly higher than the 2008 exports, which were less than half of that number, but still the country runs a large trade deficit due to the luck of independent.
It’s too obvious that Somaliland exports less than other countries because number one is unrecognized country and number two Somaliland didn’t get international aid from the world bank or the western countries. So of course Somaliland GDP is very low due to those reasons I mentioned at the
Get Access