WHAT ARE THE MAIN BENEFITS OF SOMALIA FOR JOINING EAC?

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The Federal Republic of Somalia is located in the Horn of Africa. All around the country are Ethiopia to the west, Djibouti to the northwest, Kenya to the southwest, the Indian Ocean to the east, and the Gulf of Aden to the north. The longest coastline on the African continent is in Somalia.

The World Bank has confirmed that in 2021, Somalia's Gross Domestic Product (GDP) was roughly $7.63 billion US. The GDP of Somalia represents less than 0.01% of the world economy.


WHAT ARE THE BENEFITS OF SOMALIA FOR JOINING EAC?

WHAT ARE THE BENEFITS OF SOMALIA FOR JOINING EAC?

Visa-free travel: EAC member states have agreed to permit nationals of selected countries to visit without a visa or with a visa that may be obtained upon arrival and allow them to remain for a set amount of time for tourism or business. It is no longer necessary to get a visa in advance for travel.

The littoral state wants to trade with the landlocked partner’s example Rwanda, Uganda, South Sudan, and Congo.

Regional integration and identity: The inclusion of Somalia in the EAC advances the organization's overarching objective of regional integration. It encourages deeper relationships and collaboration with surrounding nations, fostering a feeling of regional identity and cohesion. This integration may result from increased interpersonal encounters, cultural exchanges, and joint regional development projects.

Intra-regional commerce: By utilizing Somalia's 3334 km of coastline, which connects Africa to the Arabian Peninsula, the area can boost intra-regional trade and enhance the quality of life in East Africa.

Regional growth and cooperation: The EAC promotes collaboration between its member nations in a number of fields, such as infrastructure development, energy, agriculture, tourism, and technology. Somalia can cooperate with other members to deal with shared issues, exchange best practices, and advance regional development objectives.

Political stability and security: The EAC seeks to advance regional political stability, peace, and security. The EAC membership of Somalia can provide a forum for discussion, dispute settlement, and collaboration on matters relating to regional security. This may help create an atmosphere more conducive to economic development and growth.

Economic integration: By joining the EAC, Somalia may take part in regional efforts to integrate the economy. The EAC seeks to establish a single market, encourage the free flow of people, capital, products, and services, as well as to enhance international commerce. Expanded market access, more chances for investment, and regional collaboration on economic matters can all be advantageous to Somalia.

Trade and market access: Somalia's enterprises have access to a bigger regional market thanks to participation in the EAC. As a result, there may be more prospects for commerce, business, and exports among the EAC member nations. It enables Somalia's businesses to access a larger client base and get access to preferential trade agreements and regional trade agreements.

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