WT/GC/188  
 
15 November 2017  
(17-6197) Page: 1/3 
General Council  Original: English  
 
WTO FRIENDS OF INVES TMENT FACILITATION F OR DEVELOPMENT (FIFD ) 
 
6TH MEETING OF WTO INFOR MAL DIALOGUE ON INVE STMENT FACILITATION  
REMARKS DELIVERED BY  H.E. AXEL M. ADDY, M INISTER,  
MINISTRY OF COMMERCE  AND INDUSTRY, REPUBL IC OF LIBERIA  
10 NOVEMBER 2017  
The following communication, dated 10 November 2017, is being circulated at the request of the 
delegation of the Republic of Liberia.  
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1.1.   Let me first of all extend warm greetings to all of you on behalf of Her Excellency Ellen 
Johnson Sirleaf, Pr esident of the Republic of Liberia. Let me also extend congratulations to the 
WTO Friends of Investment Facilitation for Development (FIFD) for organizing this informal 
dialogue which gives us all an opportunity to discuss how our collective efforts can fa cilitate 
investment to nurture our development agenda.  
1.2.  Today I am honoured  to be here to make a few points on my view on the subject of 
facilitating investment for development. Following last week 's high -level forum in Abuja, I would 
like to focus on just  a few key points around the theme of trade and investment facilitation from 
an African standpoint.  
1.3.  First, I believe that trade and investment is the best vehicle for sustainable and inclusive 
economic growth and our best approach to tackling the sustaina ble development goals.  
1.4.  Second, I believe facilitating trade and investment for development provides the greatest 
opportunities with the highest returns in tackling systemic weaknesses and failures and limited 
capacities that get in the way of growth of the  real economy.  
1.5.  Third, I believe leadership with a vision and political will at all levels of an administration is 
the real catalyst for the structural reforms that can nurture development through trade and 
investments.  
1.6.  During last week 's high -level policy and private sector trade and investment facilitation forum 
in Abuja, the trade and investment community met under the umbrella of the WTO Friends of 
Investment Facilitations for Development. Co -hosted by Nigeria and the ECOWAS Commission, the 
event brought  together African investment and trade decision -makers, partners from other 
regions, as well as key private sector representatives, to discuss the challenges and opportunities 
of trade and investment facilitation in Africa.  
1.7.  The high -level forum acknowledge d that Africa stands at the crossroads of critical challenges 
as well as enormous opportunities. A dramatic increase in population, the pressure to generate 
jobs and the need to expand prosperity, are juxtaposed with the potential to accelerate 
industriali zation, leap frog technological development, and leverage Africa's demographic dividend 
for sustained and inclusive growth.  WT/GC/188  
 
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  1.8.  The high -level forum reaffirmed that trade and investment are inseparable and remain the 
"twin engines " for economic growth, moderni zation, and development in Africa. The continent 
therefore needs to scale up investment in "connectivity " infrastructure, as well as industries in 
which it can be globally competitive. Only through intensified investments, which UNCTAD  
estimates at an addi tional US$ 2.5 trillion annually, can Africa generate the resources required to 
advance education, improve health care and generate required employment opportunities that will 
allow the continent to achieve the  Sustainable Development Goals.  
1.9.  To expand this required investment, it is of great importance that, as policy -makers, we put 
in place the right legal frameworks, institutions, and best practices to accompany the investment 
flows. Today, Africa lags behind because of a poor business climate and inadequa te institutions 
that cannot train our majority youthful populations. This creates the urgent necessity to improve 
our business climate and implement sound market -driven domestic policies reforms.  
1.10.   We also discussed how the WTO can best facilitate the requir ed investments. To achieve the 
volume of investment we need, we have to strengthen the WTO 's negotiating agenda to tackle 
challenges as the world is moving forward, if we do not, others will and we will risk losing our 
relevance. Discussing investment faci litation, e -commerce, the digital economy and the 
establishment of a global trading platform for MSMEs is important because they are affecting the 
realities of trade all around us. This body, based on rules of dialogue, the principles of 
transparency and p redictability where all possibilities are open for discussion no matter how far 
apart the opinions, must take a leading role in tackling the problems of today 's reality.  
1.11.   Today, thank s to the leadership of Director -General Azevêdo  and this body, we have a 
ratified Trade Facilitation Agreement and a supporting structure in the Trade Facilitation Facility. 
As investment and trade policies are complementary and mutually supportive "twin engines " for 
growth and development, the WTO now needs to create counterpa rt solutions for investment 
facilitation. This way, we will make it easier for domestic and foreign investors to invest, conduct 
their day -to-day business and grow their operations.  
1.12.   To have a WTO work program and negotiations on trade facilitation could be ar considerable 
fruits. Among others, we could achieve support for domestic structural reforms; contributions to 
good governance; growth and job creation and coherence in trade and investment policy. With the 
right support, we could level the playing field  on domestic incentive structures and leverage 
international cooperation to provide a platform for efficiently scaling up technical assistance.  
1.13.   New areas are essential to today 's realities and can help scale up the investment inflows 
that Africa so urgentl y requires. At the same time, they need to be addressed along with the 
resolution of the outstanding issues of the Doha Development Agenda. As we prepare for the 
MC11, the outstanding Doha Development Agenda issues in agriculture, non -agricultural market 
access (NAMA) and services still remain key priorities for many of us.  
1.14.   Out of the Doha Development Agenda issues, agriculture remain s particularly crucial. Over 
50% of the African population, and over 55% of the Sub -Saharan African population depend on 
agriculture for their livelihood. We therefore need to make progress on agricultural issues, notably 
on food security for the poor and the elimination of harmful subsidies that lead to human poverty 
and harm the environment, such as in the fishery sector. Let  us act on the solid set of proposals 
that we have reached in the special session of the WTO 's Committee on Agriculture. We may not 
be able to achieve the "big bang " solution but can achieve incremental progress on the issues of 
public stockholding for foo d security purposes, farm subsidies and cotton; they are difficult, but 
they are promises, however difficult, we must continue to dialogue and negotiate to a conclusion.  
1.15.   Africa has some stunning realities that we must tackle. We have limited connectivity w hich 
impacts the movement of people, goods and services across the continent. Today, the institutions 
that should build our populations capacities for the skillsets needed to drive real trade and 
investments are scarce and as such Africa as an investment d estination can be rather expensive. 
Investors, however, are in the business of making money, not charity and we need to better 
enable them to create the jobs our populations so desperately need.  WT/GC/188  
 
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  1.16.   Today, issues of governance, conflict, terrorism, and climat e change, all pose significant 
threats to the many gains we have made over the decades, and often times negatively impacts 
investors ' perception of the African continent.  
1.17.   Today, our investors are also cut off from the multitudes of innovations happening on  the 
continent, as so many of our innovators, our SMEs, are hidden in the complexities of informality 
while driving the majority of economic transactions. We are missing our geniuses, our real 
entrepreneurs whom with the right exposure, right incentives, r ight support structures, can too 
share the dreams of the Bill Gates, Jack Ma, and Aliko Dangote 's of the world.  
1.18.   Despite the challenges I remain hopeful because, across the continent, all issues I have 
mentioned are being tackled in so many ways. For exampl e, mobile penetration in Africa today 
stands at 80%, which enhances e -commerce opportunities for our SMEs and a new type of trade 
and investment on the continent.  
1.19.   Today, all across Africa, you will find countries using various models of investment for 
development including public private partnerships for major infrastructure projects including roads, 
ports and power, as well as e -government solutions and single wind ow platforms to improve 
service delivery and enhance the business climate.  
1.20.   Africa is the new frontier for development. Our continent is on the move and the 
investments we are harnessing will serve as the building blocks for its transformation.  
1.21.   Today, I a m hopeful because the right conversations are being held with the participation of 
the right people, particularly the private sector. Initiatives such as the WTO Friends of Investment 
Facilitation for Development and the successful event in Abuja show that  we are moving in the 
right direction.  
1.22.   Whatever the case may be, Africa is and continues to be a strong voice in the multilateral 
trade dialogue. However, it will become even stronger, as our contributions to global trade 
volumes rise and the world unders tands that while we appreciate what the rest of the world sells 
to us, the world will appreciate what we can sell to the rest of the world beyond our current trade 
position of raw materials.  
1.23.   Together, we can achieve this ambition – by deepening Africa 's integration in the global 
economy through trade and investment facilitation for development  
1.24.   I thank you for your kind attention.  
 
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