TRALAC - Trade Law Centre

Liberia: New Year Brings Good News for Liberian Economy

Monday, 08 January 2007

Source: The Liberian Times

In a drive to improve economic activity in the Liberian marketplace in relation to the exportation of Liberian made goods, positive signals have been received by the Liberian business community on the qualification of Liberian goods for direct exportation to the United States of America.

Speaking to scores of journalists at the Executive Mansion, Presidential Press Secretary Cyrus Badio disclosed that the rights to export Liberian goods to the United States market is predicated upon the signing of the African Growth and Opportunity Act(AGOA) by the President of the United States Government, George Bush. He further disclosed that the signing of the eligibility provision by the United States President paved the way for Liberia’s qualification for the African Growth and Opportunity Act (AGOA).

According to Mr. Badio, the act which took effect on January 1, 2007 was signed on December 28, 2006 by the United States President giving Liberia this golden opportunity to trade and export locally made goods and products.

The Presidential spokesman said that the signing of the act is another result of President Ellen Johnson Sirleaf frequent visits to the United States of America after her inauguaration as President of Liberia. According to Mr. Badio, the African Growth and Opportunity Act (AGOA) were first signed into law on May 18, 2000 as title one of the Trade and Development Act of 2000. The act protects the building of a free market system. It offers incentives for African countries to continue their efforts to open and improve their economy.

Liberian business community has embraced this gesture and thanks United States President George Bush for his support in Liberia’s transformation drive.