Fragile and failed, Somalia matters too much to continue ‘fi

[Moguul21]

This resulted in the capture of 49 vessels and the kidnapping of more than 600 crew members for ransom.

Estimates reveal that piracy rose at an even greater rate in 2009, with 217 attacks off the Somali coast, which resulted in the seizure of 47 ships and 867 crew members.

Piracy in Somalia brought in between $50 to $100 million in 2008, making it the most lucrative industry.

It has proved to be a low-cost, high-profit business for those seeking to control territory and maintain power in Somalia.

Last month, over $5 million in ransom was paid to Somali pirates.

For those who control the various aspects of the economy, statelessness is a highly-valued institutional asset.

Combining economic and political interests has resulted in an equilibrium “state of statelessness” whereby factions have little interest in peace and reconciliation.

Meanwhile, neighbouring countries such as Ethiopia, Djibouti and Eritrea also support some factions and, in the process, intensify the divisions.

Furthermore, statelessness has benefited many in the international community — including some developed countries.

There are credible claims that European firms have exploited the lack of governing authority and signed contracts to dump waste off the Somali coast.

There are also vast international commercial interests that frustrate peace in Somalia.

They include fishing, trade in military hardware (mainly former communist states), and market access to the Middle East.

It is well documented that foreign trawlers owned by companies in Italy, France, Spain, Greece, Russia, Britain, Ukraine, Japan, South Korea, Taiwan, India, Yemen and Egypt have been illegally fishing in Somalia.

Somalia is a small country. But like a tick that kills a big animal, this small country can destabilise an entire region and endanger the international community.