Somalia has formally ratified the African Continental Free Trade Area (AfCFTA), becoming the 50th African country to deposit its instrument of ratification with the African Union (AU).
The development marks a significant step in Somalia’s efforts to strengthen its integration into Africa’s single market and expand economic opportunities for local businesses.
Somalia’s Minister of Commerce and Industry, Gamal Mohamed Hassan, submitted the country’s instrument of ratification on Friday, following parliamentary approval and assent by President Hassan Sheikh Mohamud.
The Ministry of Commerce and Industry said the ratification completes Somalia’s domestic legal requirements, paving the way for the country to participate fully in the continental trade framework, which connects a market of more than 1.4 billion people.
According to the ministry, joining the AfCFTA is expected to create new opportunities for Somali businesses to access markets across Africa, attract foreign investment and diversify the country’s exports.
“Somalia’s participation in the AfCFTA will create greater opportunities for local enterprises to access continental markets, attract foreign investment, diversify exports and participate effectively in regional value chains,” the ministry said.
The agreement is also expected to support Somalia’s broader economic development by enabling businesses to become more involved in regional and continental supply chains.
With Somalia now among the 50 countries to have formally ratified the agreement, the AfCFTA continues to strengthen its position as one of the world’s largest single markets and a major platform for promoting intra-African trade and economic integration.
