Liban Mohamed staff writer
Kampala (Somalistandard) – Somalia, now has the opportunity to take advantage of the rules set by the United States for sub Saharan countries. This rule allows these countries to export all kinds of goods to the US to boost their economy.
While China and Russia have been putting a lot of effort into gaining influence in Africa, the United States is focusing on improving relations with the continent. One of the ways in which the US is doing this is by giving business to sub-Saharan countries, including Somalia.
Kenya, Somalia’s neighbor, is one of the countries that has the highest trade relations with the United States. The country has greatly benefited from an act called AGOA, which is intended to create opportunities for economic growth in Africa.
The Minister of Commerce, Moses Kuria, has announced that Kenya hopes to conclude talks with the US related to trade and an agreement on funding for the US in April 2024.
The US is taking a strong stance on improving relations with Africa. Vice President Kamala Harris recently visited several African countries, and Washington has taken action in response to this visit.
The US hopes that by boosting trade relations with sub-Saharan countries, it can improve its overall relationship with the continent and reduce the influence of China and Russia in the region.
For Somalia, this rule change presents an opportunity to export its goods to the United States and boost its economy. The country has been facing political instability and violence for years, and this new opportunity could help to provide much-needed economic stability.
It remains to be seen how much impact this rule change will have on Somalia’s economy, but it is undoubtedly a step in the right direction.
Copyright ©️ 2023 Somali Standard, All rights reserved.
