Liberia as a country, heavily endowed with natural resources and a favorable climate for agricultural activities (possessing approximately 40% of the West Africa’s reserved forest), has not been able to harness its comparative advantages. Nevertheless, with the Government’s redevelopment efforts and recovery from war, there has been a tremendous improvement in its trade performances over the last 8yrs.
Considering that the government has identified trade as the core for realization of its quest for economic revitalization and development, and becoming a middle income country by 2030, in June 2007, it submitted an application to the World Trade Organization (WTO) informing of its interest of becoming a member of that body. The application was received and endorsed, leading to the formation of a working party in December 2007.
Upon the request of the Government of Liberia in 2008, a trade study “Diagnostic Trade Integrated Study” was conducted with funding from the Enhanced Integrated Framework (EIF) as part of its support for trade related assistance to Least Developed Countries of which Liberia is included.
The Diagnostic Trade Integrated Study (DTIS), aimed at identifying hindrances and providing recommendations for possible solution to improving and developing trade and trade related activities in Least Developed Countries.
The EIF- National Implementing Unit, functions with the guidance of the National Steering Committee ( Ministry of Commerce, Finance, Agriculture, National Investment Commission, Foreign Affairs, Planning & Economic Affairs, the Central Bank of Liberia, the Liberia Forestry Authority, Ministry of Information, the Liberia Chamber of Commerce, and the Liberia Business Association), It serves as an advisory and technical unit within the Ministry of Commerce and Industry, provides direction for favorable trade negotiations and outcome, facilitate activities that promote trade and trade development in Liberia, develop policies that support trade development and activities, provide and support capacity building to the public and private sectors on trade issues and trade development and on the overall, coordinates trade mainstreaming into national development.
For more information visit: http://www.enhancedif.org/en/country-profile/liberia