Following Liberia’s accession to the World Trade Organization (WTO), Commerce Minister Axel Addy has indicated that Liberia’s World Trade Organization (WTO) membership will pave the way for a more prosperous Liberia.
Minister Addy stated that the WTO membership will create the enabling environment for engaging in business in the country, noting that this will have direct impact on the Liberian people. The Commerce Minister made the statement Monday at the start of a three-day National Workshop on Post Accession organized by the WTO, U. N. Conference on Trade and Development (UNCTAD) and the Government of Liberia held in Monrovia. He indicated that Liberia became the 163rd member of the WTO less than a decade after it applied for membership to the body. The Commerce Minister pointing out that Liberia has tremendous potentials and that the country’s rules and laws are in conformity with international standard. He stressed that the modernization that is underway through domestic reform based on the principle of transparency and predictability and the rule of multilateral trading system, can create a competitive and favorable business environment for the private sector, both domestic and foreign. Addy disclosed that the Liberian Flag will on July 14 2016 be flown in front of all WTO buildings around the World indicated its membership. He also commended the Liberian Legislature for the speedy ratification of the Protocol that will help promote business in the country. Minister Addy added that the Country remains committed to the multilateral Trade system throughout the Accession, adding that Liberia has emerged from the Accession process in the multilateral Trade System leading to critical reforms. Also speaking the Legal Affairs officer at the Accession Division of WTO Dr. Juneyoung Lee said the Chinese government will always remain supportive to the process. Dr. Lee also commended the Liberian Government for its fullest support to the instrument that will give way to better business environment in the country. Minister Addy emphasized that Liberia’s membership to WTO will enhance the competitiveness of Liberian companies to attract Liberian products in the international community which will give Liberian companies more access to bigger international markets.