(LINA) – The House of Representatives has concurred with the Liberian Senate on the ratification of Liberia’s accession protocol to the World Trade Organization (WTO).
Liberia’s accession package was on December 16, 2015 adopted by the WTO.
The nation was accepted as the latest continental African and final member of ECOWAS to join the multilateral trade system at the 10thMinisterial Conference of the WTO held for the first time in sub-Saharan Africa.
The decision to ratify the protocol by the House on Tuesday follows earlier ratification by the Liberian Senate on April 20 of the Engross Bill entitled: “An Act to ratify the protocol on the accession of the Republic of Liberia to the World Trade Organization.”
It can be recalled that President Ellen Johnson Sirleaf, in a communication accompanying the bill to the Legislature, noted that Liberia’s accession package contains the nation’s commitment for domestic reform which takes into consideration the enhancement of its business climate to provide fair and predictable business environment that fosters trade in a competitive manner.
The Liberian leader noted that the package also contains the Liberia National Trade Policy (LNTP), which focuses on the trade issues and is consistent with the Agenda for Transformation.
She noted that the policy also builds on the WTO accession strategy, the Diagnostic Trade Integration Study Update (DTISU) and the National Export Strategy (NES).
According to President Sirleaf, the protocol will help enable Liberia attain its Agenda for Transformation as well as make the nation’s business environment accessible and comfortable.