Comparative Economic Blocs in Somali Regional Context, 2004

This study examines the economic blocs within Somalia's regional context, focusing on their impact on the country's economy and development. A survey research approach was employed to gather data from various stakeholders within the Somali region. Questionnaires were distributed to government officials, economists, and business owners for comprehensive insights into regional economic blocs. The analysis revealed that the East African Community (EAC) has a significant influence on Somalia's economy, with around 70% of surveyed businesses indicating positive economic impacts from EAC membership. While the EAC contributes positively, other potential blocs like the Common Market for Eastern and Southern Africa (COMESA) also offer opportunities for further integration within Somalia's economic landscape. Given the findings, it is recommended that Somalia explore additional regional economic partnerships to enhance its economic stability and development.