Home NEWS IN ENGLISH Somalia Seeks Bigger Share of Africa’s $1.4 Trillion Trade Opportunity

Somalia Seeks Bigger Share of Africa’s $1.4 Trillion Trade Opportunity

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MOGADISHU, Somalia — Somalia is seeking to deepen its participation in Africa’s single-market project as Foreign Minister Abdisalam Abdi Ali (Dhaay) met African Continental Free Trade Area Secretary-General Wamkele Mene in Mogadishu.

The talks focused on implementing the continental trade agreement and expanding Somalia’s trade and investment links with other African economies, according to Somalia’s Foreign Ministry.

The meeting comes shortly after Somalia cleared a major domestic hurdle toward joining the African Continental Free Trade Area. President Hassan Sheikh Mohamud signed the AfCFTA agreement into law on July 31, completing the country’s domestic ratification process and paving the way for Somalia to deposit its instrument of ratification with the African Union Commission.

Somalia’s Ministry of Commerce and Industry says the agreement could provide greater access to African markets, reduce trade barriers, facilitate cross-border commerce and create opportunities for investment and industrial growth.

But implementing the agreement could prove challenging. Somalia’s own economic policy documents identify limited capacity in trade and customs systems, underdeveloped trade infrastructure and gaps in legal and regulatory frameworks as obstacles to deeper regional integration.

The government has nevertheless made continental economic integration a growing policy priority. Somalia is already participating in AfCFTA and COMESA and is progressing through its accession process to the East African Community, while officials have also promoted trade corridors linking Somali ports with neighbouring countries.

For Mogadishu, deeper engagement with AfCFTA offers an opportunity to translate Somalia’s strategic location and coastline into greater regional trade and investment, while testing whether domestic institutions and infrastructure can support the ambitions of Africa’s emerging single market.

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