Liberia Finally Accedes to World Trade Organization

Liberia has finally acceded to the World Trade Organization with President Sirleaf describing the event as another turning point in Liberia’s history as the country continues the journey of economic transformation for inclusive growth. She said although long and tough, the road to accession has come with milestones of economic growth. According to a dispatch from Nairobi, President Sirleaf spoke on Wednesday, December 16, 2015 at the World Trade Organization’s 10TH Ministerial Conference held in Nairobi following Liberia’s accession to the WTO. The accession makes Liberia the 35th Least Developed Country to be admitted into the WTO and the organization’s 163rd Member State.

Speaking further, President indicated that with over twelve unbroken years of peace and stability, Liberia created the fiscal space by removing an external debt burden of $4.9 billion through the HIPC process; Domestic revenue increased by over 600%, and substantial support to invest in trade facilitation and infrastructure are being mobilized.

President Sirleaf also reflected on Liberia’s progress in rebuilding after decades of conflict, recounting gains in energy/electricity, road construction, education, health and the pursuit of investment opportunities for the country to achieve the national objectives. She assured her administration’s continued commitment to solidify investments in the country’s ports of entry and to aggressively pursue new investment opportunities that will modernize ports infrastructures to advance trade and investment.