Geneva, Switzerland - July 11, 2024: The Minister of Commerce and Industry has concluded a series of high-level meetings with international trade and economic development organizations in Geneva, securing critical support and partnerships aimed at advancing Liberia’s trade policies, economic diversification, and capacity-building initiatives.

On July 10, 2024, at the headquarters of the International Trade Center (ITC) in Geneva, the Minister of Commerce and Industry expressed gratitude to the ITC for its historic support in areas such as cassava processing and chili pepper production. The Minister highlighted the need for renewed assistance in revisiting and updating Liberia’s trade and small and medium-sized enterprise policies, promoting value addition, and enhancing cross-border trade, particularly for women.

Emphasis was also placed on diversifying the economy through rice production and promoting the consumption of locally produced rice. In response, ITC Executive Director Pamela Coke-Hamilton committed to:

 1. Securing $100,000 through the Enhanced Integrated Framework (EIF) to support value addition and capacity building in Liberia.

2. Investing in the Sea Trade initiative to empower women in trade.

3. Collaborating with the European Union to fund capacity building in technology and e-commerce.

In another meeting held on July 10, 2024, at the World Trade Organization (WTO), the Minister thanked the WTO for its patience regarding Liberia’s debt and highlighted the steps taken to repay $55,000 owed by the previous government.

Discussions also covered the notification process of the Fisheries Agreement, the potential of harnessing foreign direct investment, and the establishment of a singlewindow process to streamline business operations in Liberia. Dr. Ngozi Okonjo-Iweala praised Liberia’s commitment to fulfilling its WTO obligations and emphasized the need for Liberia to reclaim its role in the WTO.

She committed to: 1.Supporting Liberia with technical assistance and capacity building for e-commerce.

2. Providing support for small and medium-sized enterprises, youth, and women in trade and commerce. 3. Engaging the Indian government to address the 20% surcharge on IR64 Indian parboiled rice imports to Liberia.

Meanwhile, on July 11, 2024, Minister Modad met with Dr. Daren Tang Heng Shim at the World Intellectual Property Organization (WIPO) headquarters.

The Minister acknowledged WIPO’s support for small and medium-sized enterprises and youth in intellectual property capacity building and requested additional support, including the establishment of a regional WIPO office in Liberia and the development of an intellectual property policy. Dr. Tang Heng Shim responded with commitments to:

1. supporting the development of an intellectual property policy for Liberia.

2. Building an Intellectual Property Academy to train Liberian entrepreneurs, designers, and developers in intellectual property management.

3. Partnering with a Liberian intellectual property institution to train 50 Liberians over nine months starting this year.

4. Supporting a nationwide publicity strategy to educate Liberians about the benefits of intellectual property.

These strategic engagements show the Ministry of Commerce and Industry’s dedication to fostering international cooperation and driving sustainable economic growth in Liberia. The commitments secured from the International Trade Center, the World Trade Organization, and the World Intellectual Property Organization will significantly enhance Liberia’s trade capabilities, empower local businesses, and promote economic diversification.

Minister Amin Modad is leading a team of government officials to participate in the Sixty-fifth General Assemblies of the World Intellectual Property Organization (WIPO) in Geneva, Switzerland.