Kenya and Somalia have committed to strengthen their bilateral relations and enhancing economic ties in a bid to boost the economies of both nations.
Following a meeting between Deputy President Rigathi Gachagua and Somalia’s Prime Minister Hamza Abdi Barre in Nairobi, the two countries have agreed to deepen cooperation in trade and investment.
The discussions, held at the Deputy President’s official residence in Karen, Nairobi, focused on various key areas of collaboration. Notably, both nations discussed the joint effort to combat cartels and promote transparent and sustainable trade practices that benefit all stakeholders.
This meeting follows the third Session of the Joint Commission of Cooperation (JCC) between Kenya and Somalia, held in Nairobi from May 3 to 5, 2024. The participation of senior government officials from both sides underscores the importance placed on this partnership.
“The two leaders reaffirmed their commitment to deepen bilateral relations in trade and investment,” said Kenya’s Prime Cabinet Secretary and Cabinet Secretary for Foreign Affairs Musalia Mudavadi in a joint communique.
“They recognised the opportunity for both States to complement each other’s resources, goods, services and personnel resulting in a cohesive bilateral trade system.”
Deputy President Gachagua highlighted the need to increase trade between the two neighboring countries, citing the relatively low trade volumes despite strong historical and cultural ties. He noted that in 2022, Kenya exported goods worth USD 124.5 million (Ksh. 15 billion) to Somalia, while imports stood at USD 581.7 thousand (Ksh. 71.5 million), indicating significant potential for growth.
Both Kenya and Somalia have committed to removing barriers hindering the movement of people and goods across their borders. Additionally, they aim to promote investment and explore new markets of mutual interest.
“There is no doubt that these trade volumes could be increased through leveraging the Kenya–Somalia relations into tangible benefits by creating opportunities for our citizens,” said Gachagua.
Deputy President Gachagua urged the respective Chambers of Commerce of both countries to consider establishing a Memorandum of Understanding (MoU) to enhance interaction between the private sectors. He expressed optimism that stronger bilateral relations would lead to shared economic prosperity for the people of Kenya and Somalia.