Somalia has officially become the fifty-fifth country to ratify the African Continental Free Trade Agreement (AfCFTA), submitting its instrument of ratification to the African Union.
The Minister of Trade and Industry, Gamal Mohamed Hassan, presented this document on Friday after it was approved by Parliament and received presidential consent from President Hassan Sheikh Mohamud.
The Ministry stated in a declaration published Friday evening that the ratification completes Somalia's domestic legal requirements, granting the country access to a continental market of over 1.4 billion consumers.
The Ministry emphasized that Somalia's participation in AfCFTA will open new opportunities for local businesses to access continental markets, attract foreign investment, diversify exports, and effectively participate in regional value chains, thereby supporting the country's broader economic development.
The government also announced the establishment of a National Coordination Office that will lead and coordinate the domestic implementation of this agreement.
The goal of AfCFTA is to increase intra-African trade by reducing trade barriers and creating a single structure for the unimpeded movement of goods and services across the continent.
The AfCFTA Secretariat congratulated Somalia on joining the free trade area and expressed its readiness to support the country's efforts in its implementation. It noted that this step confirms Somalia's commitment to Africa's economic integration and strengthens joint efforts to create a unified African market.
Somalia's focus has now shifted to the practical steps required for Somali businesses and products to actively participate in the continental market.