RESPONSIBILITIES OF THE MINISTRY

The roles and responsibilities of the ministry are:

• To formulate strategies, guidelines and policies for domestic and foreign trade
• Establishment of sustainable international trade and economic cooperation,
• Draft laws and regulations governing domestic and foreign trade, economic cooperation and foreign investment,
• Develop trade policies and laws implementation strategies and regulations
• Harmonization of Puntland trade and commerce   laws and regulations with the international trade and commerce regulations, bilateral and multilateral treaties and agreements.
• To formulate development plans for domestic and international trade,
• Structuring of trade and commercial distribution systems reforms
• Establish systems for development of urban and rural markets
• Establish mechanisms for promotion of modern commercial distribution for easier access to commodities and services.
• Create structures and systems to promote e-commerce in Puntland
• To give general guidance to nationwide efforts in foreign investment
• Engage in multilateral and bilateral commercial negotiations
• To formulate and implement policies and regulations on foreign economic cooperation, guide and monitor the regulation of overseas contract projects and labour cooperation.
• To organize and coordinate the regulations and initiatives pertaining to fair trade, antidumping, anti-counterfeit and safeguard measures for import and export
• Create and coordinate implementation of strategies and policies protecting local investments and enterprises.
• Promote investment through creation of enabling business environment including easing registration and licensing.
• Develop and enforce policies and regulations pertaining to technology import including quality standards, tax waivers and incentives.
• Promote investment in rural areas as a strategy to increase employment and development across Puntland.
• Establish innovation and youth entrepreneurship promotion centres across the country.
• Establishment of Special Economic zones
• Establishment and enforcement of industrial quality control and standards
• Industrial property rights policy development and coordination
• Enhancing private sector development through training of SMEs, cooperative development and access to finance.