The bilateral talks between President Mohamed Abdullahi Farmajo and Ethiopian Prime Minister Abiy Ahmed Ali on Saturday focused on Trade and regional security.
The leaders, who met at Villa Somalia in Mogadishu, emphasised the importance of strengthening cooperation to spur prosperity.
Farmajo and Ahmed agreed to introduce measures to allow for the free movement of goods and services by introducing permits.
“Recognizing the potential for harmonious economic development for both nations, the two leaders paid singular focus to economic growth, wealth creation and promotion of investment between Somalia and Ethiopia in order to secure a prosperous future for their people, the countries of the Horn of Africa, and ultimately the African Continent,” a joint communique reads.
“The leaders, therefore, agreed to remove all trade and economic barriers and deepen and widen economic linkages by first and foremost, the development of critical infrastructure in particular development of ports and key highways linking the two nations.”
The leaders said the countries agreed to enhance the economic integration of their two nations.
“To fully take advantage of the larger market with more opportunities and greater economies of scale, for business, the leaders agreed to encourage incentivized investments particularly through the private sector in both countries, in order to create jobs and facilitate full economic integration between the two countries,” the communiqué said.