Saturday August 15, 2020
MOGADISHU (Xinhua) -- Somalia cabinet has approved the Africa Continental Free Trade Area (AfCFTA) treaty for ratification to help spur trade with other African countries.
"The mission of AfCFTA is to create a single market for free trade in goods and services, to achieve free movement of traders and investors across the continent, and to expand trade within Africa through better integration," it said.
The cabinet said under AfCFTA, Somalia will have the opportunity to sell its products on the continent, tap investment and boost intra-Africa trade.
Initially scheduled for July, the implementation of the AfCFTA agreement was postponed due to COVID-19.