Somalia applies to join the African Growth & Opportunity Act which allows exports to the United States with greatly reduced trade barriers

[bidenkulaha]

Very good initiative. A year ago this was impossible. This and allowing live payment transfers to the US with Somali banks joining IBAN swift will turbo charge trade and investment inshallah with the US.

As of May we should be able to export to Arab countries without trade barriers and with us joining EAC trade barriers will reduce in EAC countries. All is all well

 

[JigjigaKismaayo]

That would make port cities business hubs. You can literally export anything and make money.

 

[anon2]

As long there's a ban on exporting raw materials this will be very good. Could follow the textile export model that Bangladesh used or create cheap semi-conductors and battery plants. Very low skill jobs that can make you rich very quick

 

[Smif-N-Wessun]

Finally, good news.

 

[Burqad]

Somalia will never export much to America lmao.

 

[Shaygoosh]

This is a major stride, cutting out the middle man and putting more comp into Somalia is ideal goal considering how far we’ve come along the way to get here!

 

[Rationale]

Paving way for exporting carbohydrates, we have essentially become a longterm asset for the US.

 

[bidenkulaha]

Paving way for exporting carbohydrates, we have essentially become a longterm asset for the US.

If only we could get to join US monetary. We are headed for dangerous waters as the country grows and needs more access to dollars while the diaspora remittance generation get old

 

[bidenkulaha]

Senior US Treasury official to raise Russia grain deal in visit to Kenya, Somalia

A top U.S. Treasury official will highlight Washington's efforts to facilitate Russian grain and fertilizer exports during a visit to Kenya and Somalia and stress that Moscow's exit from the Black Sea grain deal will hurt African states, a spokesperson said on Monday.

www.reuters.com

Brian Nelson visit to Mogadishu, Treasury Security for Terrorism and Financial Intelligence.

HSM’s gov has been pushing for exporting into America and access to international finance. Progress on terrorism finance and money laundering is a big priority for him and the US.

 

[bidenkulaha]

 

[repo]

I already noted down which businesses can benefit from this. I'm starting one in Puntland in 2024 inshaAllah. I implore Congress to make a Puntland amendment for extra benefits.

 

[bidenkulaha]

 

[bidenkulaha]

Press conference