The African Union Commission congratulated Somalia on ratifying the African Continental Free Trade Area agreement, marking a step toward deeper continental market integration.
Somalia has ratified the agreement establishing the African Continental Free Trade Area (AfCFTA), an action welcomed by the African Union Commission. AU Chairperson Mahmoud Ali Youssouf congratulated Somalia’s Minister of Commerce and Industry, Gamal Mohamed Hassan, stating the ratification is an important step toward deeper integration into the continental market. Youssouf noted that Somalia’s ratification advances Africa’s wider economic integration agenda and strengthens the country’s role in regional and continental trade.
The AU chairperson highlighted Somalia’s significant potential to contribute to intra-African trade and investment, citing the nation’s commercial traditions, entrepreneurial dynamism, and historic trading links. He also commended Somalia’s progress in peace and stabilization, emphasizing their importance for unlocking economic potential and promoting development. Minister Gamal also briefed Youssouf on the inaugural Horn of Africa Trade Ministers’ Meeting, which discussed strengthening regional trade and economic cooperation.
The Horn of Africa Trade Ministers’ Meeting, held in Addis Ababa, brought together ministers from Djibouti, Ethiopia, Kenya, and South Sudan, along with representatives from Sudan and development partners. Discussions focused on practical measures to enhance regional trade, including the establishment of a Trade Facilitation Roadmap and a regional coordination mechanism to address trade barriers and promote economic growth.
Why it mattersSomalia's ratification of the AfCFTA agreement is expected to enhance its role in regional and continental trade, potentially boosting economic opportunities.
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