Washington, D.C. –Republic of Somaliland’s U.S. envoy, Ambassador Bashir Goth, has welcomed the introduction of the Somaliland Economic Access and Opportunity Act in Congress as a “historic moment” that advances shared economic and security interests between the United States and Somaliland.
Introduced on March 19, 2026, by Rep. John Rose (R-TN), with cosponsors Rep. Pat Harrigan (R-NC) and Rep. Andy Ogles (R-TN), the bill—designated H.R. 7993—targets the persistent barriers that prevent Somaliland from fully integrating into U.S. and international financial systems.
Due to its lack of widespread international recognition following Israel’s recognition in late 2025, Somaliland remains largely excluded from global banking networks, including the SWIFT payment system. This isolation hampers consumer banking, trade, remittances, investment, and vital cooperation on counterterrorism and anti-money laundering (AML/CTF) efforts, directly impacting the lives of Somaliland’s 6.2 million citizens and constraining deeper ties with strategic partners like the U.S.
The legislation directs the U.S. Secretary of the Treasury to submit a comprehensive report to Congress within 180 days of enactment. The mandated analysis includes:
Legal and regulatory obstacles to financial access, with specific focus on systems like SWIFT
Somaliland’s compliance with international AML/CTF standards
Practical measures Somaliland can adopt to strengthen transparency
Recommendations for U.S. actions to enable responsible and safeguarded financial engagement
Amb. Goth emphasized the bill’s broader significance, noting that it explicitly recognizes Somaliland’s strategic location in the Horn of Africa. The legislation states that “enhanced financial access, conducted under appropriate compliance safeguards, would serve to strengthen U.S. policy objectives in the region.” This approach underscores how economic inclusion, rooted in transparency and mutual interest, can bolster security partnerships and regional stability.
The Somaliland U.S. Mission described the move as “meaningful progress,” thanking Rep. Rose and the cosponsors for championing financial inclusion that benefits both nations. While the bill does not grant formal diplomatic recognition, it represents a pragmatic, targeted effort to treat Somaliland as a distinct economic entity—potentially unlocking new avenues for trade, investment, and cooperation amid evolving dynamics in the Horn of Africa.
As the bill advances through Congress, it signals growing U.S. attention to Somaliland’s role in promoting stability and opportunity in a critical geopolitical region.