The Chairperson of the African Union Commission (AU), Mahmoud Ali Yusuf, received this morning at the African Union headquarters in Addis Ababa the Minister of Trade and Industry of Somalia, Jamaal Mohamed Hassan, who paid a courtesy call on the headquarters.
The Chairperson of the African Union congratulated Somalia on the ratification of the agreement establishing the African Continental Free Trade Area (AfCFTA), describing it as an important step in strengthening Somalia’s integration into the continental market and promoting economic integration in Africa.
Mahmoud Ali Yusuf said that Somalia has great opportunities to participate in trade and investment within Africa, noting Somalia’s long history of trade, the vibrancy of Somali businesspeople and the historic trade relations that Somalia has with countries in Africa and beyond.
The Chairperson also commended Somalia’s progress in the areas of peace, security and stability in the country, stressing that sustainable peace and stability are essential for Somalia to leverage its economic potential, inclusive development and regional integration.
Minister Jamal Mohamed Hassan briefed the Chairperson of the African Union on the first meeting of the Horn of Africa Trade Ministers, held in Addis Ababa, under the framework of the Horn of Africa Initiative.
The meeting was attended by trade ministers from Djibouti, Ethiopia, Kenya and South Sudan, while Sudan and some development agencies were also represented.
The ministers discussed ways to strengthen trade and economic cooperation in the region, and discussed the preparation of a roadmap for trade facilitation and the establishment of a regional connectivity mechanism to address barriers to trade.
The Minister also reported on the progress made in the trade and investment sectors in Somalia, including increased investor confidence and increased foreign investment.
The Chairperson of the African Union welcomed these developments, stating that strengthening regional economic cooperation and trade connectivity are essential pillars for achieving peace, stability and sustainable prosperity in the Horn of Africa.
For his part, Minister Jamal Mohamed Hassan thanked the African Union for its continued support for Somalia’s efforts to stabilize the country.
The Minister also commended the troop-contributing countries for their efforts and sacrifices in supporting peace and security in Somalia.
He stressed the importance of Somalia continuing to receive the support of the African Union and the international community, as the country works to gradually assume full responsibility and ownership of national security and stabilization.
