Somali president Hassan Sheikh Mohamoud has said he \"put the world on notice\" over illegal fishing and waste dumping in the horn of Africa nation\'s coastal waters. President Hassan made the statement in a taped speech to a meeting of the international Contact Group for Piracy off the Coast of Somalia held in New York, a statement from the Somali presidency said. \"In a recorded speech presented to the international community in New York today, the President has \'put the world on notice\'over illegal fishing, illegal waste dumping and the disregard for Somalia\'s territorial waters,\" the statement said. The Piracy Contact Group, which brings together over 85 countries, international organizations and the private sector, is a diplomatic effort aimed at taking action against criminal activity that threatens commerce and humanitarian aid deliveries along Somalia coast and the Gulf of Aden, one of the world\'s busiest shipping corridors. In the video speech Somali President reiterated his government\'s stance on the illegal fishing and waste dumping in the country\'s waters. \"I put the world on notice that the time for exploiting Somali waters is over. Illegal, unregulated and unreported fishing, dumping toxic waste in our waters and using our maritime areas for other criminal activities must stop,\" President Hassan told delegates. President Hassan said illegal fishing trawlers have been using \"prohibited fishing equipment like drag nets, traps and trawler nets\" to fish for an array of seafood found in Somali waters. President Hassan called on the international community to \"immediately respect our waters\", and that the world have \"a legal and moral responsibility\" to make sure those foreign vessels stop illegal fishing and dumping waste in Somali waters. The Somali President also called on government to formally recognize country\'s territorial waters under international maritime law, and help Somalia to protect them, so that \"highly lucrative fish and oil and gas assets can begin to generate revenues for the country and the people\". President Hassan maintained that the best solution for this menace was to build a Somali Coast Guard, so that the country can protect its waters. \"But that while security capacity is improving, the international vessels already patrolling the coast of Somalia should be tasked to protect Somalia\'s waters and enforce maritime law,\" Somali leader said.