Rwanda and Somalia have finalized a new agreement designed to deepen their trade and diplomatic cooperation within the East African Community (EAC) market.
The pact was signed on Monday in Kigali by Somalia’s Minister of Foreign Affairs and International Cooperation, Abdisalam Abdi Ali, alongside Rwanda’s Foreign Affairs Minister, Ambassador Olivier Jean Patrick Nduhungirehe.
The agreement prioritizes increasing trade and investment opportunities in both the agriculture and industrial sectors.
Somalia continues to seek international investors and strengthen its global trade connections, especially with member states of the East African Community, which Somalia recently joined.
United Nations trade figures show that Rwanda exported goods valued at nearly one million dollars to Somalia in 2022, a slight decrease compared to just over one million dollars in 2019. However, there is no recorded data on Somalia’s export volume to Rwanda, suggesting that trade currently leans heavily in Rwanda’s favor.
Officials from both nations described the deal as an entry point to long-term collaboration driven by shared interests in business, investment, and regional development. They believe the agreement will promote peace, economic growth, and stability across the Horn of Africa.
