RESTRICTED  
  
WT/TPR/G/303  
26 August 2014  
(14-4885)  Page: 1/21  
Trade Policy Review Body  Original: English  
 
TRADE POLICY REVIEW 
REPORT BY 
SIERRA LEONE 
Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the 
Marrakesh Agreement Establishing the World Tr ade Organization), the policy statement by 
Sierra Leone is attached. 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the first 
session of the meeting of the Trade Po licy Review Body on Sierra Leone. WT/TPR/G/303 • Sierra Leone 
 
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  CONTENTS 
1   INTROD UCTION  .......................................................................................................... 4  
1.1   Overview of Macroeconomic Performance ...................................................................... 4  
1.2   Real Sector ............................................................................................................... 5  
1.3   Extern al Sector .........................................................................................................  5 
1.4   Government Sector .................................................................................................... 6  
1.5   Moneta ry Sect or ........................................................................................................ 7 
2   SECTORAL POLICY ANALYSIS ...................................................................................... 8  
2.1   Agriculture ............................................................................................................. .. 8 
2.2   Fisheries ............................................................................................................... ... 9 
2.3   Tourism ................................................................................................................. .. 9 
2.4   Manuf acturi ng .......................................................................................................... 10 
2.5   Mining .................................................................................................................. .. 10 
3   TRADE ENVIRONMENT ............................................................................................... 12  
3.1   Current Trade Position ............................................................................................... 12 
3.1.1   Export s ............................................................................................................... . 12 
3.1.2   Import s ............................................................................................................... . 13 
3.2   Trade Policy ............................................................................................................. 13 
3.3   Legislative Reforms ................................................................................................... 13 
4   PRIVATE SECTOR  DEVELOPMENT .............................................................................. 15  
4.1   Inve stments ............................................................................................................ 16 
5   SIERRA LEONE INTERNATIONAL TRADE RELATIONS ................................................. 17  
5.1   Relations with the WTO ............................................................................................. 17 
5.2   Relations with  the African Union ................................................................................. 17 
5.3   Relation with ECOWAS .............................................................................................. 17 
5.4   Mano River Un ion ..................................................................................................... 17 
5.5   Preferential Trade Arrangements................................................................................. 18 
5.6   Bilateral Agreements ................................................................................................. 18 
5.7   Relations with the European  Union .............................................................................. 18 
5.8   Relations with the United States ................................................................................. 18 
5.9   South – So uth Cooper ation ........................................................................................ 18 
6   TRADE-RELATED TECH NICAL ASSIST ANCE ................................................................ 19  
7   CONC LUSION............................................................................................................. 20  
REFERENCES .................................................................................................................. 2 1 
 WT/TPR/G/303 • Sierra Leone 
 
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  CHARTS 
Chart 1.1 Sectoral contributions to GDP, 2005-13  ................................................................... 5 
 
 
TABLES 
Table 2.1 Evolution of crop production and livestock, 2006-13  .................................................. 8 
Table 2.2 Basic indicators in tourism  ..................................................................................... 9 
Table 2.3 Production levels for various minerals, 2006-13  ....................................................... 11 
 
 WT/TPR/G/303 • Sierra Leone 
 
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1  INTRODUCTION 
1.1.  Sierra Leone continues to make progress since 2005. It successfully conducted two 
successive peaceful parliamentary and presidential elections in 2007 and 2012. The security 
remains stable and coordinated by the Office of National Security (ONS) working with the Sierra 
Leone Police (SLP), the Republic of Sierra Le one Armed Forces (RSLAF) and the International 
Security Advisory Team (ISAT). Currently, Sierra Leone is contributing to peace in the continent 
and has troops deployed in Somalia and Darfur as part of the UN international peace keeping 
mission. 
1.2.  Sierra Leone aspires to reach middle level income by 2035 and a donor nation where extreme 
poverty would have been eradicated. By 2035, it aspires to be an inclusive, green, middle-income 
country with less than 5% of people seeking jobs. Sierra Leone aims to have a stable, export-led 
economy, based on sound macroeconomic fundamentals, with inflation close to 5% and Government revenues increased significantly to 35% of GDP. It seeks also to have a Private 
sector-led economy, creating value-added products, and providing jobs for its people. It desires to 
be a model in responsible and efficient natural reso urce exploitation among other things. Efforts in 
realizing this dream have begun by designing and implementing sound Government programmes 
in various sectors including energy, infrastructure, public financial management and private sector 
development. 
1.3.  Sierra Leone has been classified as one of the world's top ten business reformers and is a net 
recipient of millions of dollars in foreign direct investment. Sierra Leone has exhibited high robust 
economic growth rates, ranging from 6% to 15% annually per year.
1 
1.1  Overview of Macr oeconomic Performance 
1.4.  Sierra Leone's macroeconomic performance has improved tremendously since the last 
review. Real GDP2 almost doubled from Le 5.4 trillion in 2005 to Le 10.1 trillion in 2013, with an 
annual growth rate of 8.0%. The economy marked  double-digits growth in 2012 and 2013 as a 
result of the recent development in the mining sector. Inflation is gradually falling despite the 
difficult global economic climate characterized by financial crisis and high commodity prices. 
National CPI3 returns to single digit (8.2%) for the first time since 2006. 
1.5.  Before 2010, the current account deficit was well below 9.0% of GDP. However, the mining 
boom has led to an increasingly large current account deficit through the importation of 
mining-related equipment and machineries. The cu rrent account deficit peaked at US$1.3 billion 
(or 44.9% of GDP) in 2011 and fell back to US$512 million (or 10.5% of GDP) in 2013, as two major iron ore investors shifted from investment phase to production phase. During the global 
financial crisis, the exchange rate of Leone against other major currencies depreciated 
substantially. The official mid-average rate between Leone and US dollar depreciated by 45% from Le 2,981/US$ in 2008 to Le 4,349/US$ in 2011 and stabilized in the past two years. 
1.6.  In response to the Poverty Reduction Strategy Paper 11-Agenda for Change (AfC) and the 
Poverty Reduction Strategy Paper 111-Agenda for Prosperity (AfP), Sierra Leone raised expenditures on infrastructure (e.g. roads, electricity, and water supply), agriculture, education, and health services. The overall deficit
4 expanded from 1.9% of GDP in 2005 to 5.2% of GDP 
in 2012. The fiscal position improved in 2013 as Government pursued fiscal consolidation through 
enhancement in domestic revenue collection and the rationalization of expenditures, with the deficit narrowed to 1.6% of GDP. The fiscal defici t was financed largely by foreign concessional 
loans and domestic securities market. In addition, domestic interest rates declined dramatically 
in 2013 on account of Government's stance of zero borrowing from the domestic securities market during the first half of 2013.  
                                               
1 Invest in Sierra Le one, Africa's Newest Destin ation, prepared by Sierra Leone Investment and Export 
promotion Agency – SLIEPA. 
2 Uses 2006 as base year. 
3 End-of-period inflation. Notice that IMF reports Freetown CPI instead. 
4 Overall deficit, including grants receivable. WT/TPR/G/303 • Sierra Leone 
 
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  1.7.  Price stability remains the primary objective of the Bank of Sierra Leone. To this end, the 
Bank of Sierra Leone continued to use Open Market Operations (OMO) and weekly foreign exchange auction as key monetary instruments. The Monetary Policy Rate (MPR), which has stayed at 20% for many years, was reduced several times
5 in 2013 to reflect the decline of 
Treasury Bill rates in the domestic securities market.  
1.8.  The economic outlook for short and medium term is bright. GDP is projected to grow at 
11.3% in 2014 and an average growth rate of 8.5%  is expected for 2015 and 2016. Inflation will 
remain tamed. Current account deficit will be furt her reduced with strong export performance. The 
accumulation of foreign reserves is expected to cover 4 months of imports by 2016. The exchange rate will remain stable due to increasing export earnings, constant FDI inflows, and remittances from overseas. 
1.2  Real Sector 
1.9.  Although agriculture remains the largest sector in the economy, its dominance is gradually 
shifting to the industrial outputs after 2011. A similar declining trend is observed in services 
sector.
6 The main driver of this changing pattern is the commencement of iron ore mining.7 Two 
major iron ore producers are African Mineral and London Mining. The GDP contributions from the other major industries, such as manufacturing, construction, and electricity supply stayed 
relatively unchanged between 2005 and 2013.  
Chart 1.1 Sectoral contributions to GDP, 2005-13
 
0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%100.0%
2005 2006 2007 2008 2009 2010 2011 2012 2013GDP contribution
Agriculture,  Forestry and Fishing Industry Services Indirect taxes (net)
 
Source: Statistics Sierra Leone. 
1.10.  The surge of inflationary pressure during 2009-11 was mainly caused by the global financial 
crisis and the rise in food and fuel prices. Annual average inflation rate8 raised from 9.8% in 2008 
to 16.6% in 2011. In 2012, inflation started to moderate thanks to the stable exchange rate, 
increasing domestic food supply, and prudent Government policies. The downward trend continues 
in 2013, with the inflation rate returns to single digit (8.2%) by the end of the year.  
1.3  External Sector 1.11.  During the period between 2005 and 2013, domestic exports increased from 
US$159.0 million to US$1.9 billion, which was la rgely supported by mounting mineral exports 
(accounted for 93.4% of total exports in 2013), especially iron ore. The destinations of exports also changed dramatically reflecting China's increasing presence in Africa. The share of exports to 
                                               
5 The MPR is lowered to 10% by the end of 2013. 
6 In 2013, within services sector, wholesale and reta il contributes the most to GDP (6.8%), followed by 
transport and communication (6.3 %), public services (3.8%), an d financial services (3.7%). 
7 The iron ore sector accounts for 8.7% of GDP in 2012 and 19.8% of GDP in 2013. 
8 The end-of-period inflation follows the same trend. WT/TPR/G/303 • Sierra Leone 
 
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  the EU fell from 87.4% in 2005 to merely 12.9% in 2013, while the share for other countries9 
(predominantly China) increased from 6.4% to 77.3%.  
1.12.  Total imports increased from US$300.1 millio n to US$1.6 billion over the same period, with 
an averaged 27.7% growth rate. The surge in 2010- 12 was the result of foreign direct investment 
in mining activities. In 2013, imports dropped to  US$1.6 billion from US$2.0 billion in 2012. This 
was largely due to the shift to the production phase by the iron ore mining companies after completing the investment phase of their business plans. The decline in mining-related imports 
(e.g. machinery and transport equipment) more than offset the increase in petroleum and food 
import bills.  
1.13.  The current account deficit widened from US$86.0 million in 2005 to US$1.1 billion in 2012, 
resulted from growing service imports, mining an d construction related imports, and net outflows 
of income. The deficit was financed primarily by FDI inflows. In 2013, Sierra Leone recorded a 
trade surplus of US$362.3 million for the first time in recent history. This positive development in the trade balance helped narrowed the current account deficit to US$511.8 in 2013.  
1.14.  The currency, which depreciated sharply in 2009 and 2010 as a result of the negative 
impact of the global financial crisis on mineral exports and inflow of remittances, regained its strength in 2011 and has remained relatively stable since then.  
1.4  Government Sector 
1.15.  Sierra Leone continued to implement the modernization Plan of the National Revenue 
Authority including the introduction of the Automated System of Customs Data (ASYCUDA ++), which now automates customs clearance procedures; introduction of the tax payer identification 
numbers (TIN) to tackle tax evasion and tax avoidance; broadening the tax base with the 
introduction of the Goods and Services Tax and formation of the Domestic Tax Department (DTD) 
that incorporates both GST and Income Tax Departments. Domestic revenue collection increased 
from 8.6% of GDP in 2005 to 12.8% of GDP in 2013
10 largely reflecting the improvements in 
revenue collection monitoring and the decline in duty free exemptions. The recent development of 
iron ore mining greatly enlarged the tax base by adding more income taxes, royalties, and licenses 
fees. 
1.16.  Sierra Leone's expenditure was re-oriented to enhance investment in priority infrastructure 
projects such as roads, energy, and water su pply to support economic growth and poverty 
reduction. Overall expenditure increased from 18.0% of GDP in 2005 to 20.4% of GDP in 2012 and 
fell to 14.8% of GDP (amounted to Le 3.2 trillion) in 2013. The decline was mainly due to the 
reduction in interest payments and domestic capital expenditure.  
1.17.  Since the beginning of 2013, Sierra Leone adopted a policy of zero borrowing from the 
banking system in order to ease the crowding out effects on the private sector and to correct 
commercial banks' strong preference for Government  securities, which offer higher interest rates, 
over loans to private sector. The policy has led to a remarkable reduction in domestic interest 
rates and consequently savings from interest payments. The drop in domestic capital spending was 
mainly due to the Government's efforts to restore budget credibility11 by rationalizing expenditures 
and introducing fiscal disciplines to MDAs. As a result, the overall deficit expanded from -1.9% of GDP in 2005 to -5.2% of GDP in 2012 and narrowed down to -1.6% of GDP in 2013. 
1.18.  Sierra Leone developed a comprehensive national debt law in 2011. This legislation sets out 
the framework for public sector borrowing at all levels of Government and provides a clear approach to effective public debt management practices. It also re-enforces the procedures 
required for sound public debt strategies, policies , reporting. Debt Sustainability Analyses carried 
out consistently indicate that Sierra Leone's debt remained sustainable with moderate risk of debt 
distress. 
                                               
9 The EU, USA, Japan, Switzerland, and ECOWAS members are excluded. 
10 The commencement of iron ore mining in 2011 changed the tax base dramatically. Hence non-iron 
ore GDP is used here for comparison. 
11 For the past three years, domestic  capital expenditure recorded significant overruns resulting in the 
build-up of arrears. Strengthening bu dgetary control, especially on the domestic capital budget was accorded 
top priority. WT/TPR/G/303 • Sierra Leone 
 
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  1.5  Monetary Sector 
1.19.  The Bank of Sierra Leone primarily relies on Repurchase Agreements (Repo/Reverse Repo), 
known as the Open Market Operation, to maintain domestic price stability. During 2006-13, Money and quasi-money (M2)
12 are more than tripled from Le 900.5 billion to Le 4.2 trillion, mainly due 
to the massive expansion of domestic credits. Over the same period, reserve money increased 
from Le 340.2 billion to Le 1.2 trillion. Hence a rising money multiplier13 from 2.65 to 3.53 was 
observed. 
1.20.  Monetary Policy Rate, the signal of moneta ry policy stance, is determined by the Monetary 
Policy Committee based developments in the domestic and international markets. In response to Government policies, domestic interest rates which had remained high during the last decade have begun to decline. The interest rates on Government Treasury Securities are currently ranging 
between 3.4-9.5% compare to 19.0-20.1% in 2005. 
1.21.  Weekly foreign exchange auction has been in operation, since 2000, to complement the 
existing foreign exchange sources in the banking system and facilitate the importation of essential 
goods including rice, fuel, raw materials and inte rmediate goods for manufacturing industries.  
                                               
12 Includes foreign currency deposits. 
13 Money multiplier = M2 / Reserve money . It measures the maximum amount of money can be issued 
by commercial banks given unit of central bank money. WT/TPR/G/303 • Sierra Leone 
 
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  2  SECTORAL POLICY ANALYSIS 
2.1.  Sierra Leone's key productive sectors continue to be agriculture, mining, fisheries and 
tourism. Sierra Leone has prioritized these sectors in its national development agenda as they have the potentials to create employment, improve livelihoods and improve the standard of 
leaving of the people.  
2.1  Agriculture 2.2.  The agricultural sector (including livesto ck, forestry, and fisheries) is the backbone of 
Sierra Leone's economy. Its contribution to GDP exceeded 50% until 2012, when it declined 
to 42% due to the boost in the mining sector. The sector employs about 75% of the labour force. Crop products are by far the most important ou tput. Between 2005 and 2012, their share in the 
agricultural GDP increased to 70.9% (up from 63.6%). Rice and cassava are the two major crop 
products. Between 2006 and 2012, the production of rice paddy doubled to over one million 
tonnes, owing to the implementation of policies geared toward increasing the productivity and 
extending the cultivated area. Over the same period, the production of cassava increased fourfold 
as a result of Government's support to farmers through the provision of processing equipment and 
improved planting materials. 
Table 2.1 Evolution of crop prod uction and livestock, 2006-13 
Crop  2006  2007  2008  2009  2010  2011  2012  2013  
Food crops ('000 metric tonnes)  
Paddy  552.0  562.0  588.0  680.1  888.4  1,026.7  1,037.7   
Maize  16.2  20.3  22.9  23.5  44.5  51.4  53.2  ..  
Cassava  1,120.6  1,456.8  1,893.9  1,988.6  2,818.6  3,250.0  6,261.2  ..  
Sweet potatoes  99.9  104.9  110.2  113.5  177.0  206.2  392.0  ..  
Pulses  48.0  52.0  58.0  59.0  70.0  82.0  81.0  ..  
Cash crops ('000 metric tonnes)  
Cocoa  30.9  35.5  40.9  93.1  107.1  112.5  ..  ..  
Coffee  76.9  88.4  101.7  116.9  134.7  141.4  ..  ..  
Oil palm  1.6  1.6  1.9  2.9  3.4  3.6  ..  ..  
Livestock ('000 heads)  
Cattle  271.3  325.5  390.6  470  517  568.7  625.6  688.1  
Sheep  326.7  392  470.4  620  682  750.2  825.2  907.7  
Goats  382.1  458.5  550.2  730  803  883.3  971.6  1,068.8  
Chicken  4,161.8  5,202.3  6,502.9  8,600  9,460  10,406  11,446.8  12,591.3  
Ducks  389.1  486.4  608  729.6  802.5  882.8  971  1,068.1  
Rabbit  5.9  7.4  9.2  11.1  12.2  13.4  14.8  16.2  
Pigs  23.0  28.7  35.9  43.1  47.4  52.1  57.3  63.0  
.. Not available. 
Source: GOSL/MAFFS. 
2.3.  However, there are key challenges facing the sector. These include inadequate rural financial 
services, limited large scale irrigation facilities, weak rural infrastructure, and weak extension 
services, heavy reliance on rain fed agriculture, weak capacity in research and statistics and low 
value addition.  
2.4.  To this end, in 2009, the Ministry of Agri culture Forestry and Food Security developed the 
National Sustainable Agriculture Development Plan 2010-2030 (NSADP), in line with the 
framework of the Comprehensive African Agricult ure Development Programme (CAADP) to support 
government's vision for Agriculture. The NSADP focuses on four major investment 
sub-programmes: commodity commercialization, infrastructure development, private sector 
promotion, and sector coordination and management.  
2.5.  With the support of the development part ners, various programmes are now been rolled out. 
Key amongst these is the Smallholder Commercialization Programme (SCP) which was launched 
in 2010, with the aim of moving the sector away  from subsistence to commercialization thereby 
increasing productivity, value addition, market access expansion, provision of adequate rural 
financial services, and the development of small-scale irrigation projects.  WT/TPR/G/303 • Sierra Leone 
 
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  2.2  Fisheries 
2.6.  The fisheries sector currently contributes ab out 10% to the country's GDP and fish is a major 
source of animal protein for over 80% of th e country's population. Between 2006 and 2013, its 
contribution to GDP varied between 5% and 7%. The sector employs about 100,000 persons 
directly and an estimated one million people indirectly mainly engage in fisheries and fisheries 
related activities (including related processing). The sector can be subdivided into: the capital-intensive industrial subsector, operating mostly off-shore; the low-technology artisanal 
fishery, operating in the in-shore marine fisheries; and the aquaculture and inland fisheries 
subsector. Between 2005 and 2010, the production, largely derived from artisanal fishing, averaged 135.8 tonnes.
14 
2.7.  The sector is mainly challenged by the illegal, unreported and unregulated fishing (IUU) 
which is estimated to cause an annual revenue loss of US$30 million. Sanitary and phytosanitary 
issues in fishing also remain a problem. At present Sierra Leone is struggling to meet international standards, a factor that has made it difficu lt to take advantage of the E.U. Market.  
2.8.  Sierra Leone therefore took steps to re duce the IUU and decided in 2010 to close their 
international shipping registry to foreign owned vessels. Government with the support of its development partners engaged in major infrastruc ture investments including the construction of 
fish processing plants, dry dock facilities, vessel repair operations, and a new fishing port. 
2.9.  In 2010 Sierra Leone developed a Policy Fr amework for Fisheries with the goal of turning 
fisheries into an ecologically sustainable and economically viable sector. Sierra Leone's strategy for the sector includes promoting freshwater fishing and aquaculture, and establishing a semi-
industrial fishing subsector operating in the inland waters. 
2.10.  Support has been received from various de velopment partners (in various forms) including 
the E.U. and FAO to improve the operations of the sector. Other key partners in the sector include 
the World Bank which is supporting the West Afri ca Regional Fisheries Programme (WARFP) which 
Sierra Leone is benefitting from.  
2.3  Tourism  
2.11.  Sierra Leone's tourism sector since 2005 has been growing steadily. The tourism sector 
contribution to GDP since 2006 has been around 7%. Estimates indicate that tourism's annual contribution to GDP was around US$25 million in 2007, growing to around US$37 million in 2011. 
The tourism sector accounted for US$42 million of Government revenue generated in 2012, 
coming from local hotel accommodation, restaurants, transportation, and souvenirs. The number 
of employees in the tourism sector reached an estimated 5,600 in 2012. Since 2006, the number of arrivals by air has nearly doubled to 59,730 visi tors (Table 2.2). Nearly half of the visitors 
travelled for business purposes. 
Table 2.2 Basic indicators in tourism 
Year 2006 2007  2008  2009  2010 2011 2012  
Arrivals 33,704 32,223 35,670 36,775 38,615 52,442 59,730 
No of hotels 22 25 28 27 33 37 22 
No of employees 2,620 2,583 3,238 2,940 3,650 4,687 2,620 
Contribution to GDP 7.5 7.2 7.0 6.9 7.0 7.2 5.9 
Source: National Tourism Board, online information. Viewed at: http://www.ntb.sl/site-page/tourism-
statistics. 
2.12.  In a bid to revive the sector, Sierra Leone in 2007 developed a seven year Tourism 
Strategic Plan, with support from the Integrated Framework. Sierra Leone in 2009 as part of its 
National Investment Policy, adopted a set of incentives for the development of the tourism industry that includes: a reduced-rate of 15% for the corporate tax during the first five years of a 
new investment (instead of the standard rate of 30%); a duty-free treatment for the importation 
of materials, machinery and equipment used in new construction, and for extension or renovation 
of existing tourism-related facilities (provided that such materials are not easily available locally); 
                                               
14 Estimates and information provided by the Mi nistry of Fisheries and Marine Resources. WT/TPR/G/303 • Sierra Leone 
 
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  and a three-year exemption from the payroll tax for up to six non-national employees (provided 
that the skills are not available locally).15 The sector continues to enjoy a number of significant 
investments in hotels by the private sector as well as improvement in roads and other tourist related structures by the Government. Big entities  like Radisson Blue and Hilton are now investing 
in the sector.  
2.13.  Notwithstanding all these, the sector still remains challenged by limited infrastructure, 
Sierra Leone's international image, the relatively high costs of travelling to Sierra Leone, the weak 
institutional and legislative frameworks for the sector and the long-term sustainability of key 
tourist sites.  
2.14.  Sierra Leone's overall goal in the medium te rm therefore is to have an eco-friendly tourism 
sector which can compete with other West Africa n tourist hubs in terms of value-for-money, and 
ensure jobs for Sierra Leoneans. 
2.15.  Sierra Leone's effort has been complement ed by the Enhanced Integrated Framework (EIF) 
to the tune of US$2,990,000 to implement the Sustainable Tourism and Promotion Project geared 
towards developing an Eco tourism policy, marketing Sierra Leone internationally, rehabilitating 
the Hotel Tourism and Training Centre (HTTC) and improving five key product sites. Sierra Leone and UNESCO and have also started the process of declaring three key sites as world heritage sites. 
These include the Bunce Island a slave fort whic h was renounced during slavery, the Old Fourah 
Bay College, the oldest college in West Africa and Kings Yard Gate.  
2.4  Manufacturing 2.16.  Results in this sector since the 1
st Trade Policy Review has been mixed. The manufacturing 
base is still narrow with a concentration on a few commodities, namely: beverages, plastics, paints 
and cement. According to UNIDO, in 2012, Sierra Leone's manufacturing sector contributed only 2% of the country's GDP, significantly below the average 7.7% of GDP recorded for 
comparable African 'Least Developed Countries (L DCs)'. Moreover, Sierra Leone's manufacturing 
value-added per capita was only one-fifth of the corresponding average for African LDCs. Only 
around 2% of jobs in Sierra Leone are in the manufacturing sector, which is dominated by informal 
small and medium-scale enterprises using simple, labour-intensive technologies.
16 
2.17.  The sector remains challenged by weak infrastructure, a small domestic market, shortage of 
skilled workforce especially women, inadequate and unreliable supply of raw materials (e.g. palm oil for soap, granite chips for cement, fruit for fruit juice), high cost of capital limiting the sector's 
capacity to expand and weak coordination, in the sector.  
2.18.  Sierra Leone therefore continues to work with its development partners including GIZ and 
UNIDO to remove the major infrastructural and market constraints that limit the sector's growth 
and to increase sector-wide output growth. In this regard, the World Bank in collaboration with the 
Government are now implementing phase one of the Growth Poles Program. Sierra Leone also refurbished the Industrial Growth Centres to promote value addition activities. Government is also 
participating in regional integration initiatives such as ECOWAS Trade Liberalization Scheme 
(ETLS) and Common External Tariff (CET) to enable manufacturing industries take advantage of the larger regional ECOWAS market. 
2.19.  Sierra Leone is developing an Export Deve lopment Scheme and is in the process of setting 
up a SME Fund to support small and medium enterprise (SME) promotion and industrial 
development.  
2.5  Mining 
2.20.  The sector accounts for about 90% of ex port revenues annually. Diamonds, and recently, 
iron ore, are the main minerals ex ports. In 2010, the country was the 10
th largest producer of 
diamond (by volume), and the 3rd largest producer of rutile. The oil and gas sector is also 
promising since the announcement of the discovery of oil in the deep water in 2009. Sierra Leone 
                                               
15 SLIEPA – Sierra Leone Investment Guide,  www.sliepa.org/, www.i nvestsierraleone.biz . 
16 Agenda for Prosperity – PRSP111. Promotin g Manufacturing for Value Addition, p. 35. WT/TPR/G/303 • Sierra Leone 
 
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  recently had a successful third petroleum bid round for the award of nine open offshore petroleum 
exploration block permits. With such continued investment, there is prospect for Sierra Leone becoming an oil producing country.  
2.21.  The table below shows production levels from 2006-13. 
Table 2.3 Production levels for various minerals, 2006-13 
Minerals 2006 2007  2008  2009  2010  2011 2012 2013  
Production levels         
Diamonds ('000) 582.3  603.7  371.3  400.4  437.6  376.5  532.9  612.4  
Bauxite('000 M/tonnes) 1,071.1  1,169.0  954.4  742.8  1,089.1  1,457.5  734.5  654.1  
Rutile 73.6  82.8  78.9  63.9  68.2  68.0  94.5  122.1  
Ilmenite 13.8  15.8  17.3  15.2  18.2  14.7  21.4  32.5  
Gold (ounces) 2,283  6,817  6,153  5,356  8,690  5,284  4,345  3,099  
Iron ore -  -  -  -  -  137.9  967.9  10,643  
Exports (million US$)         
Diamond 125.0  142.0  98.8  78.3  113.5  129.8  161.7  185.7  
Bauxite 23.6  32.7  28.1  18.7  31.1  39.0  17.1  13.8  
Rutile 28.5  38.1  36.7  35.9  40.6  34.4  171.7  129.6  
Ilmenite 1.1  1.2  2.6  0.9  2.7  4.4  3.8  2.9  
Gold 1.1  3.0  4.1  4.8  9.3  7.3  5.7  3.7  
Iron ore - - - - - - 357.0  1,064.4  
Source: Ministry of Mines and Mineral Resources 2014. 
2.22.  Over the years, the sector has been ch allenged by resource governance and corporate 
citizenship issues. As activities in this sector gradually transform into the production phase, The 
Sierra Leone Extractive industries transparency Initiative was established, Firstly to full verify and publish company payments and government revenue from Oil, Gas and Mining and secondly to 
create an in-country stakeholder group to steer the process of accountability and transparency in 
the management of wealth generated from the extractive sector. 
2.23.  Sierra Leone, also adopted a new Mines and Minerals Act in 2009. It also established the 
Minerals Advisory Board as the body in charge of monitoring the implementation of minerals 
related polices, advising and making recommendation to the authorities, and formulating 
recommendations on minerals-related policies. The Board comprises representatives from the Ministry, local governments, the mining industry, and the civil society.  
2.24.  Sierra Leone also passed the National Minerals Agency Act in 2012 creating the institutional 
framework the National Mineral Agency through which the mineral sector will be effectively managed. The National Minerals Agency is expected to provide effective and efficient licensing, 
geological services and regulatory agency services in a consistent, accountable and transparent 
manner.  
2.25.  Sierra Leone was recognized as Extractive Industries and Transparency Initiative (EITI) 
Compliant by the international EITI Board on 26 April 2014 joining 26 other countries that have 
met the requirements of the EITI Standard. WT/TPR/G/303 • Sierra Leone 
 
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  3  TRADE ENVIRONMENT   
3.1.  Since 2005, Sierra Leone's trade policy en vironment has been part of a broader policy 
framework geared towards poverty reduction generall y. In particular, deliberate interventions have 
been made to improve the regulation and lega l regime; remove trade distorting policies and 
practices; build capacity of institutions respon sible for policy formulation, implementation and 
monitoring; ensure appropriate human capital and skills in the private and public sectors; and mobilize resources towards providing trade facilitating infrastructure.  
3.2.  In order to improve trade policy formulatio n and planning, Sierra Leone and her development 
partners supported the Statistics Sierra Leone – SSL to ensure effective data collection compilation and dissemination. It also encouraged the Bank of Sierra Leone to provide trade related data 
which support trade planning. This notwithstanding, trade statistics still remains a constraint as 
there is limited coordination in data collection compilation and dissemination.  
3.3.  In 2010, Sierra Leone replaced its manual customs clearance system with the Automated 
System for Customs Data (ASYCUDA). The ASYCUDA++ platform is currently installed at the main 
customs office in Freetown, the Queen Elizabeth Port, the Lungi International Airport and at 
Gbalamoya, a common border post with Guinea . The implementation of the ASYCUDA system 
helped Sierra Leone in its revenue collection drive and the provision of trade statistics. Sierra 
Leone is working on extending the system to othe r border crossing points in Baedu, and Jendema 
at the Sierra Leone – Liberia boarder in the coming years. There are challenges of connectivity and the reliability of electricity supply however. Bu t by and large the ASYCUDA has contributed to 
increase the efficiency of the customs administration. The processing and clearance time has been 
reduced considerably, to as short as four hours for consignments that do not require a customs 
examination.  
3.4.  Sierra Leone also passed the Custom s Act 2011 as the main law governing customs 
procedures in Sierra Leone. It is administered by the Customs and Excise Department (CED) of the 
National Revenue Authority (NRA).  
3.1  Current Trade Position 
3.5.  The trade balance, which had been in persistent deficit, turned to a surplus in 2013 on 
account of the strong growth of mineral exports, es pecially iron ore, combined with the decline in 
imports. The external sector recorded a trade surplus of US$362.3 million in 2013 compared to a trade deficit of US$796.1 million recorded in 2012. 
3.1.1  Exports 
3.6.  Domestic exports (FoB) increased dramatically from US$1.16 billion in 2012 to 
US$1.92 billion in 2013. Mineral exports accounted fo r over 90% of total exports with iron ore 
being the most important contributor. The value of mineral exports as a whole doubled from 
US$839.7 million in 2012 to US$1.79 billion in 2013. Of these, iron ore exports increased from US$857 million in 2012 to US$1.06 billion in 2013, reflecting increased production volumes and 
favourable market conditions. Diamond exports increased from US$161.7 million to 
US$185.7 million. The combined exports of other mi neral exports (rutile, ilmenite, bauxite, and 
gold) increased by 69%. Agricultural exports contracted, as cocoa production dropped during the review period. The export of rice, palm oil and garri to neighbouring countries through unofficial 
channels remained unrecorded. Prospects for grow th in agricultural exports in the medium-term 
are favourable as coffee and cocoa plantations are being rehabilitated as well as new private investments in cash crop production including oil palm, rubber and sugar cane.
17 The composition 
of exports demonstrates huge dependency on mini ng activities, with mineral exports accounting 
for 93.4% of the total exports. The share of ir on ore in total exports expanded from 31.8% 
to 55.5%, on account of the expansion of producti on by both African Minerals Limited and London 
Mining in 2013. 
                                               
17 Ministry of Finance and Economic De velopment – Economic bulletin 2013. WT/TPR/G/303 • Sierra Leone 
 
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  3.1.2  Imports 
3.7.  The value of total imports (f.o.b.) dro pped from US$1.96 billion in 2012 to US$1.57 billion 
in 2013. The 19.9% decrease was largely due to the decline in the import of mining related machinery and transport equipment. The import of machinery and transport equipment decreased 
by 17.6% to US$352.5 million in 2013 from US$427.6 million in 2012, which more than offset the 
increase in petroleum and food import bills. The drop in the importation of machinery and transport equipment reflects the shift to the prod uction phase by the iron ore mining companies 
after completing the investment phase of their business plans. The value of petroleum imports 
increased by 29.8% to US$330.9 million, reflecting the increase in volumes of the various products as mining and construction activities continue to expand. Food imports increased to US$314.8 million in 2013 from  US$269.3 million in 2012. The unofficial export of locally produced 
rice to neighbouring countries partly contributed to the inadequate supply in the domestic market 
and hence the need to fill the demand gap th rough imports. The value of manufactured goods 
decreased to US$153.3 million in  2013 from US$175.9 million in 2012.
18 
3.2  Trade Policy 
3.8.  Sierra Leone's trade policy is guided by a number of trade related policies and strategies, 
most of which have been developed since the 2006 Diagnostic Trade Integration Study (DTIS). 
These include the National Export Strategy, (2010), the Industrial policy and Action Plan, a Special 
Economic Zone / Export processing Zone – (SEZ/E PZ) Policy, Consumer Protection Policy and Bill, 
Competition Policy, and Small and Medium Enterprise (SMEs) Policy.  
3.9.  The Sierra Leone Trade Policy was developed in 2010, setting out to provide a harmonized 
and coherent reference for trade development in Sierra Leone. The implementation of the Trade 
Policy is guided by a Trade Support Program, a complementary document based largely on the 2006 (DTIS) Action Matrix, which helped operationalize the key recommendations and actions 
in the policy. Sierra Leone updated the DTIS and action matrix in 2013. The DTIS also provided 
input to the PRSP-III and created synergies with the new PRSP, so as to guide the Sierra Leone Trade Policy in enhancing implementation.  
3.10.  As the DTIS Action Matrix covers a wide ra nge of issues, the Ministry of Trade and Industry 
in collaboration with the World Bank has deduced a Medium-Term Programme (MTP) from the updated DTIS, which prioritized the action for im plementation complementing existing strategic 
development initiatives of the Government. To enhance coordination and effective dialogue on 
trade issues Sierra Leone is reviving the Na tional Coordinating Committee on Trade (NCCT) 
(defunct since 2009) drawing from various stak eholders. ECOWAS supported a capacity building 
training for NCCT members in May 2014.  
3.3  Legislative Reforms 
3.11.  Sierra Leone has carried out a series of legislative reforms since the 1
st Trade Policy Review 
to enhance a conducive business environment that  will attract Foreign Direct Investment. These 
include: the Business Registration Act, 2007, the Investment and Export Promotion Agency 
Act 2007, which established the Sierra Leone Investment and Export Promotion Agency (SLIEPA), and the Anti-Corruption Act, 2008 to fight graft. The Bankruptcy Act, 2009, was also passed. The 
Companies Act, 2009 and the companies (Amendment) 2014 Law provides, for the registration of 
companies. The Goods and Services Tax Act, 2009, also provides for the imposition of a 
broad-based tax on the consumption of goods and services in Sierra Leone and to provide for other related matters. Parliament also passed the Payment Systems Act, 2009. The Finance Act, 
2010, that provides for the imposition and alterati on of taxation for the year 2010 and the Debt 
Management Act, 2011 which provides for the management of the public debt of Sierra Leone and the Finance Act, 2013, to provide the imposition and alteration of taxes in Sierra Leone was 
passed.  
3.12.  Sierra Leone also strengthened the legal,  regulatory and institutional frameworks that 
underpin private-sector-led growth with the establishment of the fast-track commercial court, the Credit Reference Bureau, the Corporate Affairs Co mmission and the revised legislation of company 
                                               
18 Ministry of Finance and Ec onomic Development – Economic bulletin 2013, p. 23. WT/TPR/G/303 • Sierra Leone 
 
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  activities. In addition, the financial sector was diversified and grown, bringing increased access to 
finance. Sierra Leone also developed the Local Content policy Thus Sierra Leone increased its "Doing Business" score markedly from 2005-10. However, this notwithstanding Sierra Leone still 
remained low on global competitiveness lists. WT/TPR/G/303 • Sierra Leone 
 
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  4  PRIVATE SECTOR DEVELOPMENT  
4.1.  Sierra Leone considers the private sector as the engine for economic growth, employment 
and poverty reduction. In this regard therefore, it  has set out clearly its vision for the promotion of 
private sector development in subsequent PRSP's and other longer term policy frameworks 
including the Vision 2025 and the Sierra Leon e Development and Transformation report.  
4.2.  In 2009, Sierra Leone with the support of  DFID developed the Private Sector Development 
Strategy (PSDS) as a means to Sustaining Rapid, Broad Based Growth and Providing Productive, 
Well Paid Jobs and Increasing Incomes for the Self ‐Employed. In a bid to implement the PSDS, the 
Sierra Leone Government through the Ministry of Trade and Industry with support from the Soros 
Economic Development Fund and the UK Department for International Development (DFID) established the Business Bomba National Business Plan Competition (BBC). The initiative aims to 
identify talented entrepreneurs with innovative business ideas and encouraging them to expand or 
establish new businesses designed to create employment and alleviate poverty.
19  
4.3.  The Government of Sierra Leone established the Sierra Leone Investment and Export 
Promotion Agency (SLIEPA) in 2008. SLIEPA, since then has been engaged in targeted capacity 
building programmes including training programs for SMEs in Export value chains, export procedures and documentation, market needs assessment, packaging and labelling and Trade Fair participation across the country and the sub region. 
4.4.  Sierra Leone continues to support the Sierra Leone Standards Bureau to be able to carry out 
its role based on international standards. Services offered by the Bureau presently include: - Metrology (calibration and verification of weighing instruments), - Standards Development and 
Implementation of Standards in Commerce, Tr ade and Industry, - Testing, and Conformity 
Assessments. The Enhanced Integrated Framework is assisting the SLSB in designing a National Quality Infrastructure project, for funding under the EIF TEIR window. The project aims to 
strengthen Sierra Leone's Quality Infrastructure not only to produce relevant National Standards 
based on International Standards, but to assist industry and commerce in the implementation of these Standards so that national products can obtain greater acceptability on regional and international markets. In so doing Sierra Leone's compliance with multi-lateral trade agreements 
such as the WTO-SPS and -TBT Agreements will be assured.
20  
4.5.  Sierra Leone developed a Special Economic Zone (SEZ) policy in 2013 and also established 
an Export Processing Zone (EPZ). Sierra Leone views the development of Special Economic Zones 
(SEZs) as a critical element of a program to facilitate private sector investment and transform the 
manufacturing sector to enhance competitiveness and industrialization for job creation. Sierra Leone also established the Sierra Leone Business Forum to enhance public private dialogue. 
4.6.  Considering the imperatives of globalization and the crucial intermediation role which 
industry plays in the development process, Sierra  Leone developed an Industrial Policy that is 
aligned with the West African Common Industrial Policy (WACIP) which was adopted by ECOWAS in July 2010. The general objective of this Policy is to accelerate industrialization through the 
promotion of endogenous industrial transformation of local raw materials, the development and 
diversification of industrial productive capacity , strengthening of regional cooperation and the 
export of manufactured goods.  
4.7.  Sierra Leone with support from the African Development Bank also developed an SME Policy 
and Action  plan to support the establishment of a po sitive business environment where all 
businesses, particularly small ones, can grow and prosper.  
                                               
19 The scheme was implemented by AFFORD Sierra Leone, a non-go vernmental agency seeking to 
facilitate the creation, protection and maintenance of jobs through practical support of Micro, Small and Medium Enterprises (M SME), www.affordsl.com. 
20 Draft Sierra Leone Government Tier 2 Propos al 2014: Strengthening the Sierra Leone Quality 
Infrastructure to Support Industrial Development and Trade, to be supported by the Enhanced Integrated 
Framework. WT/TPR/G/303 • Sierra Leone 
 
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  4.1  Investments 
4.8.  Despite the enormous potentials for investment in Sierra Leone, Sierra Leone has prioritized 
the following sectors for investment promotion: agribusiness, energy, tourism, fisheries, manufacturing, infrastructure and the extractive se ctor, which covers mineral resources and the oil 
and gas sub-sectors. There have been significant gains made in opening up these sectors to 
investment and making them more convenient for long-term, sustainable growth.
21  
4.9.  To support investment and investment protection, Sierra Leone has taken the following 
measures: Open access to all sectors of the ec onomy to foreign investment, Rights to 100% 
foreign ownership of companies, Freedom to use foreign managerial, technical and unskilled workers, No exchange restrictions, Guarantees on capital repatriation and loan remittance, Guarantees against expropriation, Jurisdiction of  the United Nations Commission on International 
Trade Laws or any other internationally recognize arbitration body over investment disputes. 
4.10.  Sierra Leone has also provided the following incentives to investors generally: Three year 
exemption on import duty for plant, machinery an d equipment, reduced duty rate of 3% on the 
import of raw materials, 100% tax loss carry forward can be utilized in any year, 125% tax 
deduction on R&D and training spend, 125% tax deduction on expenses for export promotion activities and three year income tax exemption for skilled expatriate staff, where bilateral treaties 
permit. SLIEPA has developed an investment guide giving more details on investment 
in Sierra Leone.  
4.11.  Since 2009, Sierra Leone has ensured simpler start-up procedures with the establishment of 
a one-stop shop for business registration, better banking payment system that ensures all 
payments are performed electronically and in line with ECOWAS monetary policies, a Stock 
Exchange – ushering in the first official stock exchange in the country and the Mano river Union as a whole; clearer tax system with better training and equipment making it easier to pay taxes, 
along with a consolidated income tax act, and a new Goods and Services Tax (GST) that replaces 
other taxes, better access to credit by allowing th e use of fixed and floating charges over company 
assets, smoother insolvency process including provisions to encourage and assist ailing businesses 
to reorganize instead of going straight to liquidation, less restrictions on closing a business by 
making it easier to declare bankruptcy. 
                                               
21 SLIEPA – Sierra Leone Inve stment Guide, www.sliepa.org. WT/TPR/G/303 • Sierra Leone 
 
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  5  SIERRA LEONE INTERNATIONAL TRADE RELATIONS 
5.1.  Sierra Leone recognizes the opportunities abound globally to enhance its trading position. 
Therefore it has cooperated with such initiatives including the regional programs such as the New 
Partnership for Africa's Development; ECOWAS and the Mano River Union-MRU; and the 
increasingly expanding non-reciprocal preferential  trade arrangements that are made available by, 
or negotiated with, our developed trading partners. 
5.1  Relations with the WTO 
5.2.  Sierra Leone remains a UN-designated least developed country (LDC), since joining the WTO 
on 23 July 1995. It had been a GATT contracting party since 19 May 1961. Sierra Leone is committed to the multilateral trading system, based on clear and firm rules able to guarantee market access and to promote growth, development, an d job creation at the global level; it is also 
committed to its obligations within the WTO. It extends at least MFN treatment to all its trading 
partners. Sierra Leone is neither a signatory nor an observer to any of the plurilateral agreements concluded under the WTO. 
5.3.  Sierra Leone established a Mission to the WTO in 2011. Though Sierra Leone is currently 
designated as an "Inactive Member" due to arrears of contribution and as a consequence, Sierra Leone is, in principle, denied trainings and technical assistance other than those necessary 
to meet its GATT Article XIV-2 obligations, it is making frantic effort to address this issue.  
5.4.  Sierra Leone affirms its support to the implementation of the agreement made in 
the 9
th Ministerial Conference in Bali in December 2013. In its statement to the 9th Ministerial 
Conference in Bali 2013, Sierra Leone emphasized that the Doha Development Agenda (DDA) 
negotiations should take into account the special situation of LDCs; and that progress was 
important in market access for agricultural products, through the removal of export and domestic subsidies by the developed countries, and the enhanc ement of supply capacity in the agricultural 
and industrial sectors. In this regard Sierra Leone is ready to work with the WTO to implement the 
agreement. To address the issue of Trade Facilitation, ECOWAS is willing support Sierra Leone 
carry out a facilitation needs assessment. 
5.2  Relations with the African Union 
5.5.  Sierra Leone is a founding member of the Af rican Union (AU) and the president chairs the AU 
Committee of 10 Heads of State on UN Security Council Reform.  
5.6.  Sierra Leone signed the African Charter on Democracy, Elections and Governance (ACDEG) 
on 17 June 2008 and ratified it on 17
th February 2009 and deposited it to the AUC 
on 8 December 2009. Sierra Leone also acceded to the African Peer Review Mechanism, allowing the AU to review, the country's policies and practices in the areas of democracy and political 
governance, economic governance and management.  
5.3  Relation with ECOWAS 5.7.  Sierra Leone has been an active member and represented in the various organs in ECOWAS 
including the ECOWAS Parliament. Sierra Leone has ratified ECOWAS's Trade Liberalization 
Scheme (ETLS), providing for products deemed of Community origin to be traded across borders 
duty-free and without any quantitative restrict ion. Sierra Leone has also implemented the 
ECOWAS protocols on the free movement of persons: Sierra Leone is represented in the Economic 
Partnership Agreement (EPA) negotiations by EC OWAS and there are indications that ECOWAS will 
sign the EPA which make Sierra Leone a party to the agreement.  
5.4  Mano River Union 
5.8.  Sierra Leone has been a member of the Mano River Union to work to eliminate barriers to 
bilateral trade, and to promote cooperation in the expansion of international trade among others things. The MRU resumed its activities in 2008, with its secretariat in Freetown.  WT/TPR/G/303 • Sierra Leone 
 
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  5.9.  Presently, the African Development Bank, in  close collaboration with the Mano River Union 
Secretariat, is pursuing major initiative to address the region's infrastructure gap, in transportation and energy in particular. 
5.10.  Sierra Leone Guinea and Liberia, have b een working on the realization of a sub-regional 
development project, with respect to forming an economic free zone, known as the Makona River 
Free Zone Development Project. This is in line with the thriving historical cross-border transnational market trading between the communiti es of Guekedou in Guinea, Koindu in Sierra 
Leone and Foya in Liberia. 
5.5  Preferential Trade Arrangements  5.11.  As an LDC, Sierra Leone is eligible fo r non-reciprocal preferential treatment from the 
following GSP donor countries: Australia, Belarus, Canada, EU, Japan, New Zealand, Russian 
Federation, Switzerland, Turkey, and the United States. 
5.6  Bilateral Agreements  5.12.  Sierra Leone Benefits from a number of  Bilateral Agreements including with: Morocco, 
Guinea, Ivory Coast, Nigeria, Ghana, Liberia, Ch ina, South Africa, and Angola. These agreements 
are mainly cooperation agreements and cannot be legally enforced.  
5.7  Relations with the European Union  
5.13.  The EU is Sierra Leone's largest single trading partner, buying an average of 80% of Sierra 
Leone's exports and providing 30% of its merchandise imports . Sierra Leone benefits from the 
"Everything But Arms Initiative of 2001" (EBA) arrangement with the E.U. which provides the country with favourable access to the EU market and does not require Sierra Leone to offer 
preferential market access to the EU. Sierra Leon e is participating in the negotiations for an 
Economic Partnership Agreement (EPA) with the EU, through the ECOWAS group.  
5.14.  As an LDC, Sierra Leone has been elig ible for a transitional price arrangement that 
guarantees a minimum price of €300 per tonne of sugar exported to the EU. The price guarantee 
mechanism expired in 2012.  
5.8  Relations with the United States 
5.15.  Sierra Leone became eligible for the African Growth and Opportunity Act (AGOA) of the U.S. 
in 2002 and for its apparel provisions in 2004. In 2005, Sierra Leone was grated the opportunity under the scheme to export to the US as it me t the requirements for exports under the scheme. 
Consequently, handicrafts to the U.S. Cane produc ts (sugar, molasses, ethanol, etc.) and oil-palm 
products (palm oil, palm kernel oil, oilcake from palm, palmitic acid, etc.) are eligible for duty-free 
exports to the US. In 2013, four additional products (lemon grass, ginger, tobacco and bitter root) were added to the list of eligible products. However, exports under the AGOA have generally 
remained weak as minerals and metals constitute the bulk of Sierra Leone's exports to the US. 
5.9  South – South Cooperation 5.16.  Sierra Leone now enjoys strengthened trade and economic ties with China, India, Brazil and 
other developing countries. Recently, a trade de al was concluded with India for the supply of 
tractors and other agricultural equipment under concessionary terms. China and Nigeria both provide agricultural experts through MA FFS and Njala University respectively. WT/TPR/G/303 • Sierra Leone 
 
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  6  TRADE-RELATED TECHNICAL ASSISTANCE 
6.1.  Sierra Leone has been receiving technical assistance from various institutions to build its 
trade capacity over the years. Key amongst thes e is DFID and WTO support to improve Customs 
and building the capacity of Sierra Leone to have  a deeper understanding of trade issues and to 
effectively negotiate trade agreement. The significan ce of this technical assistance especially from 
WTO cannot be over emphasized.  
6.2.  As an LDC, Sierra Leone is benefittin g from the Enhanced Integrated Framework (EIF) 
initiative which is playing a crucial role in capacity building to formulate trade policies and 
strategies, trade Mainstreaming and project development. Sierra Leone also benefits from various trade related training and other capacity building programs in Geneva and other places. These have improved the capacity of Sierra Leoneans to  contribute to promoting trade and development. 
This trainings and capacity building initiatives have tremendously increased Sierra Leoneans 
awareness and understanding of the WTO Agreements and procedures.  
6.3.  However, Sierra Leone's institutional capacity to implement trade policies and negotiate 
effectively trade agreements still remains challeng ed. Furthermore Sierra Leone need to continue 
reforming trade related legislations and regulations. There are challenges that are found across all productive economic sectors which include human, financial, manufacturing, technological and 
infrastructural capacities. During and after the civil war, the country's human resource base 
dwindled as a result of the migration of highly trained professionals and skilled workers to more 
lucrative markets, a situation quite glaring in the public sector. The country's infrastructure was badly damaged and is now being gradually rebuilt amidst serious budgetary constraints.  
6.4.  While WTO's effort is appreciated in this direction, it is evident that that the knowledge and 
understanding of the WTO Agreements and the acqu isition of negotiating skills should be backed 
up by other support measures if Sierra Leon e should overcome the supply-side constraints 
inhibiting its ability to take full advantage of the opportunities abound in the multilateral trading 
system.  
6.5.  It is against this backdrop, that the need to support Sierra Leone to become more 
competitive cannot be over emphasized. It is thus imperative that supply side constraints should 
be tackled through various support measures including in particular, the Aid-for-Trade Initiative. Sierra Leone is therefore appealing to its development partners, as well as investors to support the implementation of its trade policies and strategies especially its Medium Term Program for 
trade-related activities.  WT/TPR/G/303 • Sierra Leone 
 
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  7  CONCLUSION  
7.1.  Sierra Leone continues to embark on reforms to support free trade and economic 
development. Its huge endowment of natural resources including its mineral wealth is beginning to provide support to its infrastructural development. Its quest to develop its private sector especially 
small and medium enterprises (SME's), its im provement in the doing business regime and 
environment and its political stability show clearly that Sierra Leone is now ready and open to the world in terms of business. 
7.2.  Sierra Leone has offered various incentives to investors. It is therefore encouraging foreign 
as well as local investors to explore and invest in Sierra Leone especially in the areas of agriculture, tourism, fisheries, oil and gas, en ergy infrastructure, communications and transport. WT/TPR/G/303 • Sierra Leone 
 
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  REFERENCES 
Agenda for Change: Poverty Reduction Strategy Paper – 11. Agenda for Prosperity – Poverty Reduction Strategy Paper – 111. Diagnostic Trade Integration Study Update (DTISU), December 2013. 
Draft Sierra Leone Government Tier 2 Proposal 2014: Strengthening the Sierra Leone Quality 
Infrastructure to Support Industrial Developmen t and Trade, to be supported by the Enhanced 
Integrated Framework. 
Estimates and information provided by the Mi nistry of Fisheries and Marine Resources. 
Invest in Sierra Leone – Africa's Newest Destinat ion prepared by Sierra Leone Import and Export. 
Ministry of Finance and Economic Development – Economic bulletin 2013. Ministry of Finance and Economic Development – Economic bulletin 2013, p. 23. 
SLIEPA – Sierra Leone Investment Guide, www.sliepa.org . 
SLIEPA – Sierra Leone Investment Guide, www.sliepa.org, www.investsierraleone.biz. WTO – 2
nd Trade Policy Review of Sierra Leone, draft report. 
Sierra Leone Extractive Indu stries Transparency Initiatives, http://www.sleiti.gov.sl/. 
www.affordsl.com. www.sleiti.gov.sl. 
 
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