Senegal and The Gambia have signed a trade and transit cooperation agreement to strengthen commercial exchanges and economic ties between the two countries.
The agreement is poised to improve cooperation in transit, the free movement of people and goods, trade liberalization, the establishment of a common special economic zone and the development of regional value chains.
“I am pleased to note that the growing volume of trade between the two countries certainly reflects the vitality of commercial cooperation,” stated Senegal’s Minister of Industry and Commerce Serigne Guèye Diop, adding, “However, it is necessary to recognize that this commercial potential is still largely underexploited.”
In 2023, trade between Senegal and The Gambia totaled approximately $187.6 million and represented less than 5% of their total trade volumes. As such, the new agreement aims to increase trade volumes by promoting investment and market access for Senegalese and Gambian firms.
