MOGADISHU — Somalia’s Minister of Commerce and Industry, Gamal Mohamed Hassan, held talks with TradeMark Africa Chief Executive Officer David Beer and his delegation in Mogadishu on efforts to expand the country’s trade and strengthen its integration into regional markets.
The discussions focused on improving trade corridors, reducing barriers to commerce and strengthening trade facilitation as Somalia seeks to expand economic opportunities and connect more effectively with neighboring markets.
The officials also discussed opportunities available to Somalia through the East African Community (EAC) and the African Continental Free Trade Area (AfCFTA), which aims to create a single continental market for goods and services and deepen economic integration among African countries.
The engagement builds on support from the European Union for initiatives aimed at strengthening Somalia’s trade and economic institutions.
For Somalia, improving trade infrastructure and border procedures is particularly important as the country seeks to diversify its economy, strengthen domestic revenue and increase private-sector activity.
The talks also come as Somalia works to deepen its regional economic integration following its accession to the EAC, while seeking to improve the movement of goods and services across the Horn of Africa.
Officials said stronger trade corridors and more efficient customs and border systems could help reduce transaction costs, improve market access and create new opportunities for Somali businesses.
