RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/ACC/LBR/3 
20 April 2011 
 (11-2062) 
Working Party on the 
Accession of Liberia Original:   English 
 
 
 
ACCESSION OF LIBERIA 
 
Memorandum on the Foreign Trade Regime  
 
 
 In a communication circulated in document WT/ACC/LBR/1 on 25 June 2007, the Government of the Republic of Liberia applie d for accession under Article XII of the Agreement 
Establishing the World Trade Organization (WTO).  
 The General Council established a Working Party on 18 December 2007 (document 
WT/ACC/LBR/2 refers) with the following terms of re ference:  "To examine the application of the 
Government of the Republic of Liberia to accede to the WTO Agreement under Article XII, and to 
submit to the General Council recommendations wh ich may include a draft Protocol of Accession." 
  In accordance with the established procedur es (document WT/ACC/1), the Secretariat is 
circulating the attached Memorandum on the Foreig n Trade Regime received from the Government of 
the Republic of Liberia.  WTO Members wishing to submit questions on th e Memorandum are invited 
to do so by 20 May 2011 for transmission to the Liberian authorities. 
  
_______________ 
  WT/ACC/LBR/3 
 Page i 
 
 
  TABLE OF CONTENTS 
 
I.  INTRODUCTION ................................................................................................................... .1 
II.  ECONOMY, ECONOMIC POLICIES AND FOREIGN TRADE ......................................2  
1.  Economy ........................................................................................................................ ............2 
(a)  General description............................................................................................................ .......2 
(b)  Current economic situation..................................................................................................... .4 
2.  Economic Policies.............................................................................................................. ........6 
(a)  Main directions of the on going economic policies..................................................................6  
(b)  Monetary and fiscal policies................................................................................................... ..7 
(c)  Foreign exchange and payments system .................................................................................9  
(d)  Foreign and domestic in vestment policies ..............................................................................9  
(e)  Competition policies........................................................................................................... .....13 
3.  Foreign trade in goods and services ......................................................................................13  
4.  Domestic trade in services including va lue and composition of foreign direct 
investment..................................................................................................................... ...........15  
5.  Information on financial movements related to nationals working abroad, 
remittances,  etc............................................................................................................... .........16 
6.  Information on growth in trade in goods and services over recent years and 
forecasts for years to come.................................................................................................... .16 
III. FRAMEWORK FOR MAKING AND ENFORCING POLICIES AFFECTING 
FOREIGN TRADE IN GOODS AND TRADE IN SERVICES .........................................17  
1.  Powers of executive, legislative and judicial branches of government...............................17  
2.  Government entities responsible for maki ng and implementing policies affecting 
foreign trade .................................................................................................................. ..........18 
3.  Division of authority between cent ral and sub-central governments.................................18  
4.  Legislative programmes or plans to change the regulatory regime ...................................19  
5.  Laws and Legal Acts............................................................................................................ ...20 
6.  Description of judicial, arbitral or ad ministrative tribunals or procedures .....................20  
IV.  POLICIES AFFECTING TRADE IN GOODS ...................................................................20  
1.  Import Regulations ............................................................................................................. ....20 
(a)  Registration requirements for engaging in importing.........................................................20  
(b)  Characteristics of national tariff ...........................................................................................22  
(c)  Tariff quotas, tariff exemptions.............................................................................................24  
(d)  Other duties and charges, specifying any charges for services rendered ..........................24  
(e)  Quantitative import restrictions, includi ng prohibitions, quotas and licensing 
systems ........................................................................................................................ .............26  
(f)  Import licensing procedures ..................................................................................................26  WT/ACC/LBR/3 
Page ii  
 
  (g)  Other border  measures.......................................................................................................... .27 
(h)  Customs valuation.............................................................................................................. .....27 
(i)  Other customs formalities ...................................................................................................... 27 
(j)  Pre-shipment inspection ........................................................................................................ .32 
(k)  Application of internal taxes on imports...............................................................................32  
(l)  Rules of origin ................................................................................................................ .........33 
(m) Anti-dumping regime............................................................................................................ ..33 
(n)  Countervailing duty regime ...................................................................................................33  
(o)  Safeguard regime ............................................................................................................... .....34 
2.  Export Regulations ............................................................................................................. ....34 
(a)  Registration requirements for engaging in exporting..........................................................34  
(b)  Customs tariff nomenclature, types of dut ies, duty rates, weighted averages of 
rates.......................................................................................................................... ................34  
(c)  Quantitative export restrictions, includi ng prohibitions, quotas and licensing 
systems ........................................................................................................................ .............34  
(d)  Export licensing procedures...................................................................................................3 4 
(e)  Other me asures ................................................................................................................. ......35 
(f)  Export financing, subsidy and promotion policies...............................................................35  
(g)  Export performan ce requirements........................................................................................35  
(h)  Import duty drawback schemes ............................................................................................35  
3.  Internal policies affecting foreign trade in goods.................................................................36  
(a)  Industrial policy, including subsidy policies.........................................................................36  
(b)  Technical regulations and standards, including measures taken at the border 
with respect to  imports ........................................................................................................ ...36 
(c)  Sanitary and phytosanitary measures...................................................................................37  
(d)  Trade-related investment measures ......................................................................................39  
(e)  State-trading practices........................................................................................................ ....39 
(f)  Free zones ..................................................................................................................... ...........39  
(g)  Free economic zones ............................................................................................................ ...40 
(h)  Trade-related environmental policies ...................................................................................40  
(i)  Mixing regulations ............................................................................................................. .....41 
(j)  Government-mandated counter-trade and barter...............................................................41  
(k)  Trade agreements leading to country-specific quotas allocation........................................41  
(l)  Government procur ement practices......................................................................................41  
(m) Regulation of trade in transit................................................................................................. 42 
4.  Policies affecting foreign trade in agricultural products.....................................................42  
(a)  Imports........................................................................................................................ .............42   WT/ACC/LBR/3 
 Page iii 
 
 
  (b)  Exports........................................................................................................................ .............43  
(c)  Export prohibitions and restrictions.....................................................................................43  
(d)  Export credits, export credit guarantees or insurance programmes .................................44  
(e)  Internal policies.............................................................................................................. .........44 
5.  Policies affecting foreign trade in other sectors ...................................................................44  
(a)  Textiles regime ................................................................................................................ ........44 
(b)  Policies affecting foreign trad e in other major sectors........................................................44  
V.  TRADE-RELATED INTELLECTUAL  PROPERTY REGIME.......................................51  
1.  General........................................................................................................................ .............51  
(a)  Intellectual property policy................................................................................................... .51 
(b)  Responsible agencies for policy formulation and implementation .....................................52  
(c)  Membership of international intellectua l property conventions and of regional 
or bilatera l agreements........................................................................................................ ...52 
(d)  Application of national and m.f.n. treatment to foreign nationals .....................................53  
(e)  Fees and taxes................................................................................................................. .........53 
2.  Substantive standards of protection, including procedures for the acquisition 
and maintenance of intellectual property rights ..................................................................53  
(a)  Copyright and related rights, including rights of performers, producers of 
phonograms and broadcasting organizations.......................................................................53  
(b)  Trademarks, including  service marks...................................................................................53  
(c)  Geographical indications, including appellations of origin.................................................54  
(d)  Industrial designs............................................................................................................. .......54 
(e)  Patents........................................................................................................................ ..............54  
(f)  Plant variety protection....................................................................................................... ...54 
(g)  Layout designs of integrated circuits ....................................................................................54  
(h)  Requirements on undisclosed information, including trade secrets and test data............54  
(i)  Other categories of in tellectual property..............................................................................54  
4.  Enforcement .................................................................................................................... ........55 
(a)  Civil judicial procedures and remedies.................................................................................55  
(b)  Provisional measures ........................................................................................................... ...55 
(c)  Administrative procedures and remedies.............................................................................55  
(d)  Special border measures........................................................................................................ .55 
(e)  Criminal procedures............................................................................................................ ...55 
5.  Laws, decrees, regulations and other legal acts relating to the above................................55  
6.  Statistical data on applications for and grants of intellectual property rights, as 
well as any statistical data on their enforcement .................................................................55  
VI.  TRADE-RELATED SE RVICES REGIME .........................................................................55  WT/ACC/LBR/3 
Page iv  
 
  1.  General........................................................................................................................ .............55  
2.  Policies affecting Trade in Services .......................................................................................64  
(a)  Government departments, agencies, professional associations or other bodies 
with authority or a role relevant to the conduct of service activities .................................65  
(b)  Judicial, arbitral or administrative tr ibunals or procedures providing for the 
review of, or remedies in relation to, admi nistrative decisions affecting trade in 
services ....................................................................................................................... ..............65  
(c)  Provisions, including those in internat ional agreements, concerning qualification 
requirements and procedures, technical standards and licensing and/or registration requirements for the supply of services ...........................................................65  
(d)  Provisions governing the existence and operation of monopolies or exclusive 
service s uppliers .............................................................................................................. ........65 
(e)  Provisions relating to safeguard measures as they apply to trade in services ...................65  
(f)  Provisions relating to international transfers and payments for current 
transactions of services....................................................................................................... ....65 
(g)  Provisions relating to capital transactions affecting the supply of services.......................65  
(h)  Provisions governing the procurement by  governmental agencies of services..................66  
(i)  Provisions concerning any form of aid, gran t, domestic subsidy, tax incentive or 
promotion scheme affectin g trade in services.......................................................................66  
3.  Market Access and National Treatment ...............................................................................66  
4.  Most-Favoured-Nation Treatment ........................................................................................66  
VII. INSTITUTIONAL BASE FOR TRAD E AND ECONOMIC RELATIONS 
WITH THIRD COUNTRIES ................................................................................................66  
1.  Bilateral or plurilateral agreements relati ng to foreign trade in goods and trade 
in services.................................................................................................................... .............66  
2.  Economic integration, customs union  and free-trade area agreements.............................66  
3.  Labour markets integration agreements ..............................................................................66  
4. 
Multilateral economic cooperation, memb ership in the multilateral economic 
organizations, trade-related programmes of other multilateral organizations.................67  
ANNEX 1 ........................................................................................................................ ......................68  
ANNEX 2 ........................................................................................................................ ......................93  
ANNEX 3 ........................................................................................................................ ......................96  
ANNEX 4 ........................................................................................................................ ......................97  
ANNEX 5 ........................................................................................................................ ......................98  
ANNEX 6 ........................................................................................................................ ......................99  
ANNEX 7 ........................................................................................................................ ....................104  
ANNEX 8 ........................................................................................................................ ....................116  
LIST OF ABBREVIATIONS .......................................................................................................... .117 
  WT/ACC/LBR/3 
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  I. INTRODUCTION 
Liberia was traditionally noted for its academic institutions, iron-mining, and rubber.  Political 
upheavals beginning in the 1980s and a 14-year civil war (1989-2003) largely destroyed Liberia's economy and brought a steep decline in living standard s.  After 20 years of instability a new elected 
government was sworn into office in January 2006.  They set about to implement numerous reforms 
to re-activate the economy and to re-introduce Liberi a into the international community and economy.   
Driven by the production and export of iron ore, rubber, and timber, the Liberian economy grew 
strongly in the 1960's and 1970's, so that by 1980 its average GDP per capita of US$890 had reached 
middle-income country levels, ahead of both Ghana and Senegal.
1  After Samuel Doe's coup d'état in 
April 1980, however, the economy first slumped and then collapsed as a result of gross 
mismanagement and the civil war that ravaged it.  Liberian GDP began a decline that resulted in an 
almost unthinkable fall of 90 per cent by 1996 – po ssibly the largest economic collapse of any country 
since World War II.  
Liberia is once again on the road to economic reco very following several decades of devastation and 
civil conflict that ravaged the country's economy, de stroyed its physical infrastructure, and eroded its 
once considerable human capital.  Years of crisis  and economic mismanagement turned Liberia into 
one of Africa's poorest nations, with a GDP per capita  of approximately US$160.  Yet the country's 
major mineral, agricultural, and forestry potentia l holds great promise of reviving the once booming 
economy and thriving export sector.  And since 2006, Liberia has shown a strong commitment to implementing the sound reforms and maintaining the macroeconomic stability necessary for accelerated and sustainable economic growth. 
As a small open economy based on natural resour ces with tremendous development potential but 
great poverty, Liberian policymakers have recognize d that their future growth and ability to reduce 
poverty lies in increasing their trade with the rest of  the world.  As a result, the majority of the 
reforms in the economy are intended to help Liberia re-integrate into global value chains.  Since 
Liberia lacks investment capital and technology, it is critical that they base their economic policies on 
attracting investors while trying to stimul ate the development of local business.  
Liberia's Poverty Reduction Strategy (PRS) artic ulates the Government's overall vision and major 
strategies for moving toward rapid, inclusive a nd sustainable growth and development during the 
period 2008-2011.  This period of strategic interventions is important because it lays the foundation 
and baselines for the national efforts in four keys areas: Consolidating Peace and Security; 
Revitalizing the Economy; Strengthening Governan ce and the Rule of Law; and Rehabilitating 
Infrastructure and Providing Basic Services.  In ad dition to the commitment to sustaining the gains 
made over the past three years in controlling corruption and improving the rule of law, the 
Government of Liberia (GOL) aims to re duce poverty through economic growth by creating 
conditions conducive to human and business development, and foreign direct investment.  They 
intend to accomplish this goal by improving land rights and access and completing the development 
of their trade policy.  The recent enactment into  law of the Land Commission and the appointment 
and confirmation of commissioners by the President and Senate respectively, as well as the passage into law of the Revised Revenue Code of 2000 demonstrate the GOL's commitment to improving 
Liberia's investment climate.  They also aim to reduce poverty by investing in their people, 
particularly women, by investing in the primary ed ucation of girls, a critical component of increasing 
the role of women as contributors to Liberia's long term economic growth. 
Liberia applied to the World Trade Organization (WTO) to begin the accession process in June 2007. 
This is an important step toward re-engaging th e multilateral trade policy community after many years 
of disruption due to the long civil war. The WTO represents the international forum for establishing 
                                                     
 
1 In 1992 prices, IMF Country Report, 2006:14. WT/ACC/LBR/3 
Page 2  
 
  and policing the rules of the game for international trade. There are a number of potential advantages 
for any country acceding to the WTO. Among the be nefits, WTO membership  ensures access to the 
markets of other members through the guaranteed application of most-favoured-nation (MFN) tariff 
rates, national treatment of Liberian goods in  other Members' markets, and access to dispute 
settlement.  The WTO Accession process itself is an important statement of trade policy reform and is 
a practical way of encouraging investors both domestic  and foreign.  The process is a tool to address 
both tariff and nontariff barriers since negotiations en tail binding tariffs and reviewing relevant trade 
laws, improving transparency, eliminating incons istencies, and preparin g new laws to ensure 
compatibility with WTO agreements. 
II. ECONOMY, ECONOMIC POLICIES AND FOREIGN TRADE 
1. Economy 
(a) General description  
The Republic of Liberia is a country on the west coast of Africa with an area of 111,369 square 
kilometres. It is bordered by Sierra Leone, Guinea,  Côte d'Ivoire, and the Atlantic Ocean.  The 2008 
census indicated a population of 3,476,000 people.  Liberia's capital is Monrovia, a city with about 
1.1 million inhabitants. The other towns and their populations are:  Ganta (41,000); Buchanan 
(34,000); Gbarnga (34,000), Kakata (33,000); and Vo injama (26,000).  Liberia has a hot equatorial 
climate with most rainfall arriving in summer wi th strong winds in the dry season.  Liberia's 
populated Pepper Coast is composed of mostly ma ngrove forests while the sparsely populated inland 
is densely forested, later opening to a plateau of  drier grasslands.  Liberia has 40 per cent of West 
Africa's rain forest. 
Liberia, "land of the free," was founded by free African-Americans and freed  slaves from the United 
States in 1820.  An initial group of 86 immigrants , who came to be called Americo-Liberians, 
established a settlement in Christopolis (now Monrov ia, named after US President James Monroe) on 
6 February 1820.  
There are 16 ethnic groups that make up Liberia's indigenous population. The Kpelle in central and 
western Liberia is the largest ethnic group.  Americo- Liberians make up an estim ated 5 per cent of the 
population. There are also sizable numbers of Leba nese, Indians, and other West African nationals 
who comprise part of Liberia's business community.  The Liberian constitution r estricts citizenship to 
only people of Negro descent, and land ownership is restricted to citizens.  
Liberia had a gross national income (GNI) of US$1 40 per capita in 2007.  According to the Core 
Welfare Indicator Questionnaire in 2007, it is estim ated that 63.8 per cent of the population is living 
below the national poverty line, with 47.9 per cen t of the population living in extreme poverty.  
Liberia is still struggling to recover from a civil wa r that left around 270,000 dead and forced more 
than half the population from their homes. On ly since the Comprehensive Peace Agreement was 
signed in 2003 did many donors resume providing aid to Liberia. Net official development assistance (ODA) to Liberia in 2006 was US$269 million, 26 per cent higher than in 2004; this accounted for 
54 per cent of GNI. (OECD).   
The mainstay of the Liberian economy is agriculture , which contributed about 68.9 per cent of 
aggregate  GDP in 2006.  Agriculture is thus a major co mponent of economic revitalization.  Growth 
in the agricultural  sector is led by the production of rubber and timber.  Agriculture is the primary 
source of livelihood for the majority of the popula tion. Recovery has been quicker in the commercial 
plantation sector, with the high prices of r ubber and oil palm on the international  market spurring 
investment. However, the scarce resources available to smallholders and a poor  transportation 
network hamper their ability to  get products to market. The agricultural sector also suffers  from low 
productivity, as technology has remained  virtually stagnant for decades. This has been
 compounded  WT/ACC/LBR/3 
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  by Liberia's dual land tenure system,  formal and customary, which seriously restricts land  ownership 
by both Liberians and foreigners.  
Table 1:  Sector Composition of GDP (%)  
 1965 1987-89 2004-05 
Agriculture and fisheries 25 31 52 
 Rubber  6 20 
 Rice and cassava  14 14 
 Other  11 17 
Forestry 2            5 12 
 Logs and timber  3 0 
 Charcoal and wood  2 112 
Mining and panning 25 10 0 
Manufacturing 3 8 12 
Services 44 46 24 
Source:  DTIS, page 3. 
Liberia seeks to speed up growth through pro-poor de velopment strategies. It has set itself goals for 
economic growth, job generation,  and improvements in the United Nations' Human Development 
Index and the World Bank's Doing Business ratings .  Current development policy expressed in the 
Poverty Reduction Strategy (PRS) of 2008 is due to be succeeded by a more detailed approach for the 
period 2012 to 2027 that takes advantage of its pot ential development corridors to focus public and 
private investment.  
The Ministry of Planning and Economic Affairs (MPEA) expects the Liberian population to grow 
from about 3.5 million in 2009 to about 5 million in 2027.  Within that time, its vision is to transform 
Liberia into a middle-income country with a per capita annual income averaging about US$6,000, 
from about US$300 in 2009.  This implies an average annual economic growth of 18 per cent.  The means of achieving this vision set out by the Minist ry include moving from subsistence to mechanized 
agriculture and from low-skill to a knowledge-based societ y.  The country aims to attain high levels of 
savings and private investment, thus reducing the need for outside aid.
3 
Having been a case study for the "resource curse" theo ry in the past, Liberia seeks faster growth for 
the coming decades, but also a more balanced, di versified and equitable approach. This involves 
studying ways to build a national identity that supe rsedes ethnicity and ways to ensure that incomes 
are more widely distributed.  The Liberian economy w ill continue to be resource-driven, as it is very 
rich in minerals and forests with a relativel y sparse population. Within a few years mining and 
forestry, both of which collapsed during the wars, will again be generating the majority of gross 
domestic product (GDP).  The challe nge as growth resumes is to leve rage the infrastructure financed 
by the resource sectors to allow agriculture and other labour-intensive sectors to flourish. 
                                                      
2 This figure seems overstated. 
3 Liberia Growth and Development Plan 2012-2027:  Vision Scenario Development Concept Note. 
MPEA. 5 October 2009. WT/ACC/LBR/3 
Page 4  
 
  Table 2:  Basic Economic and Social Indicators for Liberia by Decade (1960-2000)
 
Indicator Unit 1960s 1970s 1980s 1990s 2000-05 
GDP per capita  1980 US$ 673 898 495 100  140 
GDP growth rate  % p.a. 4.7 3 -4.5 1.2  1.5 
GDP per capita growth  % p.a. 1.9 0 -6.2 -3.2  -0.7 
Agriculture GDP share  % 23 27 33 66  69 
Total population  millions 1.1  1.4  1.9  2.1  3.1 
Population growth rate  % p.a. 2.7 2.9 1.8 3.0  2.0 
Rural as % total population  % 78 70 60 51  44 
Rural population growth 
rate  % p.a. 1.8 1.7 0.1 1.2  0.3 
Life expectancy  Yrs 40 42 44 43  42 
Adult literacy  %    39   
Poverty %    55 80 
Source:  DTIS, March 2009 based on World Bank, World Development Indicators.  
From the disastrous conditions left by years of ci vil war that ended in 2003, Liberia has already been 
rapidly improving both the investment climate and the living conditions of the population.  Once the 
elected government took office in 2006, the governme nt focused quickly on results. The low baseline 
is clear from Liberia's Human Development Index of  0.442 in 2007, ranking the country on social 
conditions at 169 of 182 countries worldwide.  Pe r capita annual GDP was US$362, less than a dollar 
a day.  Adult literacy (>15 yrs of age) was 55.5 pe r cent, life expectancy at birth 57.9 years, and 
combined gross school enrolment ratio 57.6 per cent.  
The Government depends heavily on trade for its revenue, with customs and excise taxes accounting 
for 47 per cent of the total in 2006.  Since then , GOL has demonstrated continued commitment to 
enhancing revenue collection efficiency as well as br oadening the tax base.  This contributed to a 
three-fold rise in revenues from US$57 million in 2002/2003 to US$147 million in 2006/2007.  Some 
of the reform measures that have already been undertaken involve stronger enforcement of customs 
administration and pre-shipment inspection of imports , reducing the Customs User Fee to 1.5 per cent, 
strengthening the Large Taxpayer Unit, eliminati ng the settlement of tax liabilities through non-cash 
payments, and reducing tax and duty exemptions  on imports of rice and petroleum products.4  Other 
measures include more consistent implementation of the revenue c ode, expansion of automated tax 
administration, improved auditing resulting from comparing different sources of taxpayer 
information, and taxpayer education. 
(b) Current economic situation 
The Liberian economy has been steadily growing sin ce the end of the civil war and the return to a 
civilian government in 2006, albeit from a very low base.5  Gross Domestic Product (GDP) registered 
growth of 7.8 per cent in 2006, up from 5.3 per cent in  2005.  In 2007, Liberia's growth accelerated to 
9.5 per cent, but declined in 2008 to 7.1 per cent  due to the knock-on effects of the global economic 
crisis. As the impact of the crisis hit hardest in 2009, the GOL expected growth of no more than 
5 per cent.  If the current pace of recovery continues,  it should return, in 2010, to a growth rate of not 
less than 7 per cent.  
The growth is expected to derive from continued expansion in the services sector, particularly housing 
construction and investment in mining, agriculture and forestry, sectors in which planned investment 
was delayed but have now commenced. There is no doubt that the global recession was profound, 
with direct impact on Liberia in four ways:  re duction of government revenues; decline in exports 
driven by depressed commodity prices; delayed fore ign investment; and reduction in the inflow of 
                                                      
4 Some companies in the past had settled their tax obligation by undertaking public works. 
5 It is estimated that Liberia's GD P fell by 90 per cent from 1980 to 1995 as a result of the civil war.  WT/ACC/LBR/3 
 Page 5 
 
 
  remittances.  The downturn of the crisis added to the formidable challenge of reconstruction, peace 
building, poverty reduction, and expa nsion in employment opportunities. 
In 2008-9, the economy also experienced significant outflows in capital due to a cutback in external 
and suppliers' credit lines normally available to lo cal importers.  The resulting increase in the demand 
for US dollar loans from local banks, to cover the co st of imports, led to 10 per cent depreciation in 
the Liberian dollar between Marc h and October 2009. To mitigate  these negative impacts and to 
ensure macroeconomic stability and sound public fi nance, the Ministry of Finance, along with 
relevant stakeholders, instituted measures which in cluded encouraging more widespread use of the 
Liberian dollar in the payment of customs duties, r eal estate taxes, and certain goods and services.  
The system of cash-based balanced budget was sc rupulously observed, and implementation of the 
Public Financial Management Act commenced, to br ing Liberia into line with international best 
practice. 
The global economic crisis also adversely impacted  public revenues, constraining the ability of GOL 
to deliver on critical components of its developm ent agenda, particularly employment, which has 
important implications for its povert y reduction effort and for social stability. In light of the crisis and 
until recovery is sustained, the GOL intends to revi sit and more strictly prioritize areas of delivery 
within its Poverty Reduction Strategy to make the mo st of limited available resources in the remaining 
18 months of the PRS period (January 2010 – June 2011). 
The Government made major strides in deepening public financial manage ment and other reforms 
necessary to reach the Highly Indebted Poor Countries (HIPC) completion point in mid-2010.  This is expected to open up fiscal space once the remaining ex ternal debt overhang is eliminated. The current 
government inherited a staggering debt which, by  the end of 2007, had reached US$4.9 billion in 
external debt. Of this amount, US$1.6 billion was owed to multilateral creditors (mainly the World 
Bank, the International Monetary Fund (IMF), and the African Development Bank), about 
US$1.5 billion to bilateral cred itors (donor countries) and US$1.6 billion to commercial creditors 
(financial institutions and suppliers).  In nom inal terms, an additional US$900 million was in 
domestic debt, which was streamlin ed to US$500 million after an audit by international auditors.  
This debt stock represented more than two decad es of non-serviced arrears, resulting in accumulated 
interest and penalties.  Over the same period, Liberia's capacity to service the debt completely collapsed, with GDP falling by 90 per cent, register ing one of the world's largest economic declines. 
Exports became virtually non-existent during the years of instability. The ratio of external debt to 
exports was 2,300 per cent, and 700 per cent of GD P.  Under the HIPC program, Liberia has made 
major progress in clearing this debt. At present, its external debt stock has been reduced to 
US$1.7 billion, made possible through grants provided by the World Bank, the IMF, and several key bilateral partners. A commercial debt buy-back, at 3 cents on the dollar, has reduced this segment of 
Liberia's arrears from US$1.6 billion to US$300 million. This includes the US$20 million due two hedge (venture) funds that refused GOL's buy-back o ffer, electing instead to sue Liberia in several 
jurisdictions. The GOL continues to resist this claim legally and, w ith support of several bilateral 
partners and international civil society organiza tions, is bringing moral pressure on these entities. 
At the same time, Liberia met virtually all the pe rformance criteria and benchmarks under the Poverty 
Reduction and Growth Facility (PRGF) agreed w ith the IMF for 2009 and are on course with the 
implementation of criteria and be nchmarks for 2010. Also, the GOL has already met most of the 
triggers under the HIPC program.
6  
Economic recovery provided a basis for consistent rise in fiscal revenues. This trend continued in 
2009, replicating the year-on-year growth registered  since the inception of President Sirleaf Johnson's 
government. The revenue target for the calendar year was US$229.5 million. Actual collection by 
                                                      
6 Annual Message to the Fifth Session of the 52nd National Legislature of the Republic of Liberia by 
President Ellen Johnson Sirleaf, 25 January 2010. WT/ACC/LBR/3 
Page 6  
 
  January 2010 was US$236.3 million, which exceed ed total projection by US$6.8 million, or 
2.9 per cent. Compared to the preceding year, there was a growth of US$25.1 million, or 11.9 per cent, from US$211.2 million to US$236.3 million. The growth in revenue was driven 
essentially by internal tax revenue supporting an e xpansion in the tax base.  Notwithstanding overall 
calendar year good performance, revenue stagnated in the second semester of the calendar year 
corresponding to the first semester of the 2009/ 2010 fiscal year, necessitating implementation of a 
FY No. 09/10 budget Risk Management Strategy th at ensured that spending was in accordance with 
actual revenue collection, in line with a cash balanced-budget policy.  
The significant progress made in implementing the Poverty Reduction Strategy's (PRS) economic 
revitalization pillar enabled Liberia to score an encouraging mark on "Doing and Starting Business" 
both regionally and internationally.  In the "Ease of  Doing Business" category, the country ranked 149 
in 2009/2010 as compared to 170 in 2008.  Furtherm ore, in "Business Start Up," Liberia ranked 57 in 
2009/2010 as against 88 in 2007/2008.  Liberia also ranked among the top ten reformers in the world in 2008/2009.  As the planned reforms become fully implemented, it is expected that Liberia will score even higher on these indices. 
Total exports (FOB) for 2009 are estimated at US$500 million, which were exceeded by imports 
estimated at US$700 million, resulting in a negativ e trade balance. The global economic downturn, 
which affected the import and export sub-sectors of the economy, is expected to ease as the reform measures instituted for the forestry and mining sectors help to reverse this negative trend.  To meet 
the challenges in facilitating trade on the domestic market, and to stem the influx of sub-standard 
goods into the domestic market, the GOL is worki ng to align the activities of the Pre-shipment 
Inspection Programme to those of the Commerce Mini stry's regulatory and monitoring functions as it 
relates to imports. 
Liberia continues to have an underdeveloped in dustry sector which in 2009 accounted for only 
11.8 per cent of GDP. Available data show that there are 217 registered industrial establishments 
operating in the country, with a total of 17,364 employ ees.  Liberian participation in the sector totals 
104 medium and small industries in 11 areas:  f ood processing, mineral water, chemicals, metal 
products, commercial printing, block making, furn iture-making, telecommunications, beverages, 
hotels and tourism, and mining.
7 
The Government is laying the foundations for d eeper industrialization through direct foreign 
investment in the mineral, forestry and agricultu ral plantation sectors. The Ministry of Commerce and 
Industry (MoCI) is finalizing an Industrial Policy an d preparing an Industrial Directory, which will 
provide data on industries operating in Liberia a nd products manufactured in the country. The 
Ministry is also in partnership with the Interna tional Trade Centre (ITC) to develop a National Export 
Strategy aimed at adding value to a select number of products, so as to penetrate foreign markets. 
2. Economic Policies 
(a) Main directions of the ongoing economic policies 
The overall objective of Liberia's economic polici es is to address poverty in the economy.  The 
blueprint for this is outlined in the national Povert y Reduction Strategy (PRS).  The informal sector 
employs most workers, with over 80 per cent of em ployed persons engaged in  subsistence agriculture, 
artisanal mining, artisanal forestry or petty trad ing. Most formal sector workers are engaged in 
government service, retail trade, or commercial agricultu re and fishing.  The public sector is by far the 
largest formal sector employer. Men have a dispr oportionate percentage of formal sector jobs.  
The scarcity of formal sector jobs leaves the majority of workers in menial employment. 
                                                      
7 Annual Message by President Ellen Johnson Sirleaf, 25 January 2010.  WT/ACC/LBR/3 
 Page 7 
 
 
  The Poverty Reduction Strategy (PRS) outlines the G overnment of Liberia's short term development 
strategy.  Priority interventions are organized into the following four pillars:  
− Peace and Security; 
− Economic Revitalization; 
− Governance and the Rule of Law; and 
− Infrastructure and Basic Services. 
The priorities for each pillar were chosen in a participatory and consultative process, including the 
public, government and the donor community.  Sexua l violence, theft and dissatisfaction with the 
police were cited as the key problems for Peace and Security.  The public's priorities for economic 
revitalization focused on agriculture, roads and access to finance.  The key issues concerning 
Governance and the Rule of Law included public co rruption, poor systems for registering land tenure, 
and child labour.  Concerning infrastructure and basi c services, the public cons istently advocated for 
an improved road network, along with greater acce ss to safe drinking water and expanded electricity 
coverage.  
The PRS strategy for revitalizing the economy and im proving basic infrastructure focuses on restoring 
the road network, which had deteriorated drastically  during the war. Secondly, the strategy prioritizes 
restoring major commodity exports such as rubber, timber, iron-ore mining, and other cash crops.  
The recent decline of global economic activity has hu rt Liberia's small and very open economy in the 
short term.  However, Liberia's lo w economic base and continued rec overy should keep growth fairly 
robust.  On-going reconstruction and the recovery  of rubber exports, despite falling international 
prices, will support growth in the near term.  Though some mineral sector investments have been delayed due to the slump in metals prices, these investments will support growth in the medium term as minerals markets recover and exports resume.  
High growth will characterize the initial recovery of  major exports but over the longer term, growth 
will slow down unless there is significant public inv estment.  A development corridor approach can 
spread the benefits of the expanding mining and ag ro-forestry sector to promote diversification. 
Agricultural output will be constrained by lack of access to credit, fertilizer inputs and insufficient 
access to markets, unless major infrastructure investments and extension programmes invigorate the sector.  The growth and development of other sectors, including downstream manufacturing, will 
require coordinating investment and supplying infr astructure, especially energy and roads.  Though 
Liberia will sustain high growth over the recove ry phase, only concerted policy and coordinated 
investment can assure that growth can be su stainable and inclusive in the longer term. 
(b) Monetary and fiscal policies 
Liberia operates a dual currency arrangement, where both US and Liberian dollars are accepted as 
legal tender.  Today US dollars comprise about 60 per cent of the "official" broad money supply, and 
this does not count US dollar currency in circulati on outside the banks, which is not measured, though 
estimates of the magnitude of this currency lead to the conclusion that US dollars comprise about 
95 per cent of the overall broad money supply.
8  Most large public and private sector transactions are 
conducted in US dollars with significant amounts of savings at commercial banks held in US dollars.9 
In rural areas, people hold US dollars but use Libe rian dollars more as a medium of exchange.  
The latter role of the US dollar is more important in Monrovia.  Everywhere, the Liberian dollar is 
useful, especially to poorer people, because of its smaller denominations. 
                                                      
8 International Monetary Fund, Liberia: Fourth Review of Performance under the Staff-Monitored 
Program and Request for Three-Year  Arrangement under the Poverty Reduction and Growth Facility and the 
Extended Fund Facility – Staff Report. March 2008, p. 13.  
9 Central Bank of Liberia, Annual Report 2006 . WT/ACC/LBR/3 
Page 8  
 
  The foreign exchange market in Liberia includes operations of the comme rcial banks and about 52 
licensed foreign exchange bureaus.  There is also a small street market and probably some offshore 
trading.  The supply of US dollars comes primarily  from exports, remittances, and inflows of foreign 
assistance; the demand for US dollars is determined mostly by the demand for imports.  The supply of 
Liberian dollars arises mostly from government pa yments of salaries and for goods and services.  
The net demand for Liberian dollars is primarily fo r tax payments and as a medium of exchange in 
smaller denominations. The demand for money (bot h US dollars and Liberian dollars) has been 
expanding rapidly in the post-war era, though the rate  of expansion has been tapering off.  This has 
not been due to fiscal pressures but has resulted mo re from structural changes in people's demand for 
money associated with the establishment of peace and the resumption of economic activity. 
Nevertheless, the pace of expansion of the money supply, which was projected at 23 per cent in 2008, 
is sufficiently rapid that there is concern regardin g the ability of the Central Bank of Liberia (CBL) to 
control inflation. 
The conduct of monetary policy in Liberia is gene rally geared towards containing exchange rate 
fluctuations and ensuring low inflation.  A week ly foreign exchange auction is the key mechanism 
used by the CBL to affect domestic monetary conditi ons.  It is expected that a Treasury bill (T-bill) 
will be introduced in 2010 to broaden the policy in struments available to the CBL for monetary policy 
management. In the latter part of 2009 the CBL inte nsified its intervention in the foreign exchange 
market to ease the pressure on the exchange rate of the Liberian dollar.  The net foreign reserves 
position of the Central Bank of Liberia (CBL) at  end-December 2009 was US$266 million, compared 
with US$49.4 million at the end of 2008, reflecting in part the allocation of Special Drawing Rights 
(SDR) by the International Monetary Fund.  In 2006, the Central Bank's reserves stood at around 
US$5 million. 
Liberian monetary authorities are severely limited in  their ability to conduct an independent monetary 
policy with respect to the Liberian dollar.  This  is due, first and foremost, to the dual currency 
arrangement and the predominance of the US dolla r over which it has no control. Second, the banks 
are flush with liquidity and have no need to borrow from the Central Bank.  Third, there is no open 
market for government securities since those prev iously issued have been discredited and no new 
securities have been issued more recently.  The only policy instrument that can be used to influence 
prices is the exchange rate, and that is not easy.  Fo r one thing, the US dollar/Liberian dollar market is 
well developed, so it is difficult to operate in that ma rket with limited resources to offset the impact of 
basic demand and supply trends.  For example, the US dollar reserves of the CBL are very limited and 
would not sustain a long run on the Liberian dollar.
10 
The Liberian dollar exchange rate came under enorm ous pressure during most of 2009, due mainly to 
the global financial crisis. The Liberian dollar depreciated by 11.6 per cent to 72.44/US$1.00 at end-September, from 64.93/US$1.00 at end-January 2009. The weakening of the Liberian dollar 
against the US currency can be generally ascribed to the slowdown in the rate of workers' remittances, 
declines in export earnings, and higher market dema nd for US dollars. However, the Central Bank has 
been taking steps to ease the vola tility in the exchange rate by intensifying its intervention in the 
foreign exchange market through increased sale of US dollars to the market. As a result, the Liberian 
dollar regained almost all of the value lost in 2009, strengthening it from L$72.44 to around L$67 per 
US dollar as of the second week in December.  
The depreciation of the exchange rate contribute d to a higher-than-expected inflation during 2009, 
although inflation remained in single-digit, dropping from a high double digit for most of 2008. 
Inflation remained relatively low, at 9.7 per cent,  compared with the average of 12 per cent that 
prevailed in other countries in West Africa.  Comp ared with other countries in the sub-region with 
single currency regimes, the Liberian dollar has not done badly against the US dollar.  Hence, the 
                                                     
 
10 Liberia: Tapping Nature's Bounty for the Benefit of All  (Diagnostic Trade Integration Study) , 
March 2009, p. 8.  WT/ACC/LBR/3 
 Page 9 
 
 
  GOL has argued that it would be imprudent to fix th e exchange rate against the US dollar which could 
result in parallel market exchange rates that bear no r esemblance to the official rate and high inflation. 
One important issue that the government of Liberia faces is whether to move to a complete US dollar 
standard or to try to decrease the importance of US dollars in the economy relative to Liberian dollars. 
The choice made will have an important influen ce on Liberia's competitiveness in the global, and 
even regional, economy.  A US dollar standard woul d have the advantage of facilitating international 
transactions without risk of changes in the exchange  rate between US and Liberian dollars, which is 
especially important since most of Liberia's trad ing and investing partners conduct these transactions 
in US dollars.  Greater relative importance of the Liberian dollar in the money supply, on the other 
hand, would increase that risk, or at least the per ception of that risk, until international traders and 
investors became confident of the soundness of this  currency.  Given Liberia's past history of 
inflation, depreciation, and lack of fiscal discipline, this might take some time. 
Liberia's current account deficit continues to increa se.  The deficit, which stood at below 10.0 per cent 
of GDP in 2005, rose sharply to 20.5 per cent of GDP in 2007.  The increase in the deficit derived 
exclusively from the trade deficit, which continues to  grow as a result of the larger share of imports in 
the economy.  For similar reasons, the current account deficit increased further in 2008.  On the other 
hand, Liberia's capital account deficit has starte d to improve since 2005 with the re-emergence of 
private investment and foreign direct investment (FDI). 11 
(c) Foreign exchange and payments system 
Liberia operates an open foreign exchange and pa yments system in keeping with international 
practice.  The Central Bank of Liberia (CBL ) reported a net foreign reserves position of 
US$269.0 million for the year ended 31 Decemb er 2009, up from US$49.4 million in 2008.  The 
increase of US$219.6 million was mainly due to an increase in the holdings  of Special Drawing 
Rights (SDRs) of the country through a special SD R allocation by the IMF.  Liberia does not apply 
foreign exchange controls. Numerous "cambios " or foreign exchange businesses operate in the 
country and the commercial banks also buy and sell currency freely.  
The GOL successfully implemented two IMF St aff-Monitored Programmes under which it made 
significant improvements in public finances and in monetary and exchange rate polices, paving the 
way to full restoration of normalized relations with the IMF in March 2008.  The Government has 
also made strong initial progress in dealing with its debt situation. It formulated and began 
implementation of a comprehensiv e domestic debt resolution strategy, cleared its long-standing 
arrears to the World Bank, the African Developm ent Bank, and the IMF, signed a new three-year 
agreement with the IMF, and reached the Decision Point under the Heavily Indebted Poor Countries' 
(HIPC) Initiative.12  In 2009, the bilateral relations betw een the Central Bank of Liberia (CBL) and 
international institutions contin ued to grow in strength with mutual commitment towards the 
achievement of the goal of the 2009 Programme agreed  with the International Monetary Fund (IMF).  
In this spirit, the IMF completed the third appraisal  of Liberia's performance in the implementation of 
its Economic and Financial Progr amme supported by the Poverty Reduction and Growth Facility 
(PRGF).  Regular transmission of the country's Moneta ry Survey to the IMF is carried out, consistent 
with the agreement with the IMF under the PRGF program. 13 
(d) Foreign and domestic investment policies 
The investment environment in Liberia is quite liberal and the GOL actively seeks both domestic and 
foreign investment in order to promote economic development.  The recent reform of the investment 
                                                      
11 OECD.  Liberia, African Economic Outlook, 2008. 
12 Liberia Poverty Reduction Strategy , p. 18. 
13 Central Bank of Liberia, Annual Report 2009, p. 17. WT/ACC/LBR/3 
Page 10  
 
  regime was to ensure consistency with internati onal best practice as a necessary tool for attracting 
sustainable domestic and foreign investment, for reconstructing and e nhancing the economy of 
Liberia and for creating a viable market-based eco nomy to encourage private enterprise through a 
transparent, equitable and non-discriminatory legal framework for investment.  The Government of 
Liberia is committed to building an economic envi ronment in which free enterprise can flourish; 
where the Government assumes its proper role as regulator and facilitator of  economic development; 
where the ideals of transparency, fair play and eq uality of treatment are paramount; and a policy that 
maintains a stable society in which all people are afforded the opportunity to realize their maximum 
potential.  In this regard, the Investment Act of 2009 is designed to support an investment friendly 
climate.  It recognizes the importance and compleme ntarity of Liberian and overseas investments, 
fosters appropriate linkages with all sectors of  the economy, guarantees an acceptable level of 
economic security and generally fosters the ec onomic growth and development of Liberia. 
In order to establish an enterprise an investor needs to incorporate and/or register a business 
organization in accordance with the Associations La w or such other laws as are relevant to the 
establishment of the enterprise.   The new Investment Act of 2009
14 provides for national treatment of 
foreign investors in a complete sense in terms of licenses or permits, accounting standards, insurance 
requirements and taxation, among other requirements.  It covers direct and indirect investment and 
portfolio investment.  The Act also seeks to rationa lize, standardize and ensure transparency in the 
award of investment incentives by consolidatin g fiscal incentives in a new Revenue Code and 
developing a coordinated instituti onal capacity involving all relevant  government agencies for the 
administration of such incentives.15   
Apart from the reservations below, foreign invest ors may wholly own, or in partnership with 
Liberians, control business organizations in any sect or of the economy of Liberia.  This includes 
manufacturing as well as services sectors. Ownership  of the following business activities is reserved 
exclusively for Liberians:  
− Supply of sand; 
− Block making; 
− Peddling; 
− Travel agencies; 
− Retail sale of rice and cement; 
− Ice making and sale of ice; 
− Tire repair shops; 
− Auto repair shops with investments of less than US$50,000; 
− Shoe repair shops; 
− Retail sale of timber and planks; 
− Operation of gas stations; 
− Video clubs; 
− Operation of taxis; 
− Importation or sale of second-hand or used clothing; 
− Distribution in Liberia of locally manufactured products; and 
− Importation and sale of used cars (except authorized dealerships which may deal in certified 
used vehicles of their make). 
                                                      
14 The Investment Act of 2009 repealed the Investment Incentives Act of 1973 and the National 
Investment Commission Act of 1979. 
15 An enterprise shall be entitled to such fiscal incen tives as are applicable under the Revenue Code of 
Liberia and such non-fiscal incentives as are applicable in relevant legislation. 
  WT/ACC/LBR/3 
 Page 11 
 
 
  Foreign investors may invest in the following busin ess activities provided that where such of the listed 
enterprises is owned exclusively by non-Liberians,  the total capital invested is not less than 
US$500,000; and, where such of the listed enterprise s is owned by non-Liberians in partnership with 
Liberians and the aggregate shareholding of the Li berians is at least 25 per cent, the total capital 
invested shall not be less than US$300,000:  
− Production and supply of stone and granite; 
− Ice cream manufacturing; 
− Commercial printing; 
− Advertising agencies, graphics and commercial artists; 
− Cinemas; 
− Production of poultry and poultry products; 
− Operation of water purification or bottling plant (excludes the production and sale of water in 
sachets); 
− Entertainment centres not connected with a hotel establishment; 
− Sale of animal and poultry feed; 
− Operation of heavy duty trucks; 
− Bakeries; and 
− Sale of pharmaceuticals16. 
The Investment Act also protects investors fro m nationalization or e xpropriation "unless the 
expropriation is in the national interest for a public  purpose, is the least burdensome available means 
to satisfy that overriding public purpose, is made  on a non-discriminatory basis, in accordance with 
due process of law."  In the event of expropriation, an investor has the right to:  (i) payment of fair and adequate compensation and (ii) access to the domest ic courts for determination of the investor's 
interest or right and the amount of compensation to which he is entitled, which compensation shall be 
fair market value. Investors also have the ri ght to repatriate capital,  profits and dividends. 
- The National Investment Commission
 
The main regulatory body regarding investment in Liberia is the National Investment Commission. Its 
mandate is as follows: 
− to encourage, promote and assist in the developm ent of foreign direct investment in all sectors 
of the economy of Liberia other than those sectors in which foreign direct investment is prohibited by law; 
− in collaboration with the Ministry of Commer ce and Industry and other relevant Government 
of Liberia institutions, stimulate the domestic private sector by encouraging and fostering 
support for domestic entrepreneurs; and 
− to participate in the evaluation and award of concession or other development rights with 
respect to assets of the Republic to the extent  from time to time mandated by other laws, and 
in any case to assist or, where authorized by law, to lead Ministries in the review and 
evaluation and award to investors of concessions and other development rights with respect to 
assets of the Republic. 
Liberia was once party to bilateral investment treaties with France, Germany and Switzerland but 
these have since expired.  Liberia had also si gned BITs with Belgium and Luxembourg in 1985 but 
these never entered into force.  
The GOL is actively seeking to attract investment  in the extractive industries, and agriculture, 
particularly iron ore, rubber and oil palm. Foreign firms have invested in the GSM cellular telephone 
                                                     
 
16 See Schedule 1 of the Investment Act of 2009. WT/ACC/LBR/3 
Page 12  
 
  market, and have also expressed interest in the privatization of the Liberia Telecommunications 
Corporation.  There is extensive replanting of ru bber trees and general rehab ilitation and expansion of 
tree crop plantations.  Under the Kimberly Process, Liberia has resumed export of diamonds. The lifting of UN timber sanctions in 2006 and signi ng of the forestry chain-of-custody agreement in 
December 2007 opened the way to export of timbe r products. There is also apparently increasing 
interest in energy, mining and oil exploration. 
- Investment Incentives
 
The Act Amending the Revenue Code of 2000 (refe rred to as the Economic Stimulus Act of 2009) 
introduces special tax incentives for new investment  with capital of at least US$1 million in some 
sectors as well as additional tax in centives to the same economic sectors.  Sectors benefiting from 
these incentives include: 
− Tourism carried out through tourist resorts, hotel and cultural sites; 
− Manufacturing of finished products having at least 60 per cent of local material content; 
− Energy; 
− Hospitals and medical clinics; 
− Law and medium income housing; 
− Air, sea, rail and road transport infrastructure; 
− High impact information and communication technology; and 
− Banking in the non-bank areas in the south Eastern region of the country. 
- Special tax incentives  
On the implementation of the Economic Stimulus Ac t of 2009, investments in the sectors listed above 
will enjoy special tax incentives for a period of five years.  These include: 
− A deduction of 30 per cent of the purchase pr ice of equipment and machinery used in the 
activity in the year a qualifying asset is placed in service; 
− A deduction of 30 per cent of the cost of new hotels or tourist resorts; 
− A deduction of 10 per cent of the cost of buildings and fixtures used in manufacturing 
processes that produce finished products (wheth er for domestic consumption or for export) 
having at least 60 per cent local raw material content; 
− A scale of additional incentive deductions for investment in a number of economically 
deprived zones; 
− An additional deduction for investment activity certified by the Minister as meeting standards 
for increased employment, which vary by zone a nd whether the activity is in agriculture or 
not; and 
− For a five-year period following commencement of the investment, exemption from the GST 
and import duty for medical and educational e quipment, as well as for equipment, machinery, 
raw materials, spare parts, and other inputs, according to a schedule of applicability defined 
by sector.  If the investment is for less than US$2 million, the GST and import duty exemptions are limited to a period of two years. 
- Additional tax incentives 
 
Investments in the sectors mentioned above exceed ing US$20 million will be entitled to additional tax 
incentives.  These incentives will be defined by regu lations to be developed jointly by the National 
Investment Commission and the Ministry of Finance.  For the incentives to be valid, they will have to 
be approved by the Legislature.   WT/ACC/LBR/3 
 Page 13 
 
 
  The Act also contains special provisions for renewable resource projects. A contractor with an 
agricultural concession agreement is allowed an import duty exemption on import of capital equipment and inputs.  Throughout the life of the contract, the contractor is allowed an import duty exemption on all medical and educational equipm ent and supplies purchased for use in connection 
with the contract and intended to be placed in se rvice within one year of purchase. For mining and 
petroleum activities, duty exemption is provi ded for producers under a mineral development 
agreement (MDA) or a petroleum production sharing agreement on:  (i) plant and equipment (including vehicles) and capital spare parts; (ii)  intermediate inputs including explosives, drilling 
mud, grinding balls, tires for trucks and similar ite ms; and (iii) raw materials (but not on gasoline and 
gas oil).  
(e) Competition policies 
Liberia does not have any competition laws in pl ace and neither is there any competition policy. 
However, in recent years there has been increasing concerns in government about the anti-competitive 
behaviour of some businesses in key sectors such as cement, rice and other areas of retail.  In trying to address these problems the Ministry of Commerce and Industry has devoted a significant amount of 
personnel to price monitoring and there is internal di scussion about price controls, or trying to decide 
on what is an appropriate mark-up or profit margin.  It is anticipated that Li beria will eventually need 
to introduce a competition regime. 
3. Foreign trade in goods and services   
- Foreign Trade in Goods (See Annex 1)
 
Annex 1 provides statistics on fore ign merchandise trade for Liberia. The economy of Liberia is 
relatively open and is by and large based on mercha ndise trade, with exports largely being composed 
of rubber and its derivative products.  The econom y is therefore sensitive to both domestic and 
external factors which impact on production and trad e of rubber and its derivative products, as well as 
on other imported consumer goods.  
The value of both exports and imports increased during the period 2007 to 2008.  The period 2008 to 
2009 however saw a decrease in both exports and im ports, mainly due to the global economic slump 
experienced in many parts of the world.  Th e value of exports amounted to US$49 million, 
US$119 million , and US$76 million for 2007, 2 008 and 2009 respectively .  The value of imports into 
Liberia for the period 2006-2009 has been fluc tuating, amounting to some US$480 million, US$414 
million, US$787 million and US$449 million for 2006, 2007, 2008 and 2009 respectively. 
The volume and value of imports in Liberia has been consistently higher than that of exports leading 
to a deficit in the trade balance.  The trade defi cit in 2007 was estimated as 33.6 per cent of the GDP, 
this deficit increased to 62.4 per cent in 2008, but  decreased in 2009 to 53 per cent of the GDP and 
has been projected to decrease further to about  31 per cent and 17.3 pe r cent in 2010 and 2011 
respectively. The table below shows the tr ade balance for the period 2007 to 2009. 
Table 3:  Trade Balance 2007-2009  
 2007 2008 2009 
Exports 49,489,090 119,477,816 76,775,403 
Imports  414,046,553 787,595,974 449,573,419 
Balance -364,557,463 -668,118,158 -372,798,016 
Source: Customs 
The export basket for Liberia is limited, cons isting mainly of primary products with limited 
processing. Agricultural products including rubber a nd its derived products, coffee beans, cocoa beans WT/ACC/LBR/3 
Page 14  
 
  and palm oil combined form the largest component of exports, but are oversha dowed by rubber and its 
derived products. In 2007,  rubber and its derived products accounted for over 87 per cent of the total 
exports.  In 2008, they accounted for slightly over  50 per cent, while in 2009, they comprised about 
59 per cent of all exports.  Exports of diamond and gold in 2008 were valued at US$9.8 million and 
US$12 million respectively.  
Imports into Liberia consist of all categories of products, both agricultural and non-agricultural, with 
non-agricultural products accounting for a la rger share of over 60 per cent.  
Analysis of geographical distribution of Liberian trade shows that the EU is the most important 
trading partner.  It is the largest export destin ation market accounting for over 50 per cent of total 
exports.  In 2009, the value of exports to EU amounted to about US$13 million, with Belgium taking 
the largest share.  In 2007, exports to this country  accounted for over 82 per cent of the total exports.
17 
Exports to Belgium consist mainly of rubber and its derivatives.  The United States has increasingly 
become an important export destination market for Liberia, with export shares of 0.8, 46.1 and 46.6 per cent in 2007, 2008 and 2009 respectively. Combined, the share of exports to USA and Europe in 2009 was about 65 per cent of the total e xports.  The value of exports to the USA in 2009 
exceeded the value of exports to Belgium, making th e latter the largest export destination market for 
Liberia. Exports to USA included: assorted foods ite ms, cocoa beans, processed rubber, iron ore and 
palm oil. Exports to the ECOWAS region accounted  for about 2 per cent in both 2007 and 2008 of the 
total Liberia exports (although most of Liberia-ECOW AS trade is unrecorded). In 2009, this share 
increased to over 5 per cent.  The share of exports to the rest of African countries is negligible.  
The source of imports is more diversified compar ed to export destination markets. The EU has 
consistently remained the largest source of imports for Liberia, accounting for over 20 per cent of the 
total import source share. Imports from EU a ccounted for about 25 per cent, 23 per cent and 
22 per cent in 2007, 2008 and 2009 respectively. The largest share of import from EU in 2009 was accounted for by imports from France.  
The USA and China are the second and third (respectivel y) largest sources of imports with a share of 
about 18 and 14 per cent in 2009 respectively.  The share of imports from USA has been increasing 
since 2007 from about 5 per cent to about 11 and to about 18 per cent in 2008 and 2009 respectively. 
Together imports from EU, USA and China in 2 009 accounted for over 54 per cent while imports 
from ECOWAS member countries accounted for over 10 per cent of the total imports into Liberia. 
The largest source country of imports from ECOW AS in 2009 was Côte d'Ivoire, accounting for 
4.4 per cent of the total imports into Liberia. Imports from India and Brazil accounted for 4.7 and 
2.2 per cent of the total imports in 2009.  
The civil conflict seriously eroded Liberia's once booming export sector, although some rubber 
exports continued as did small-scale gold and diam ond mining, and informal (strictly speaking, 
illegal) timber cutting and rubber tapping.  Offi cially recorded exports dropped from US$486 million 
in 1978 to about $104 million in 2004.
18 Since then, exports have be gun to grow again, thanks 
primarily to the recovery of the rubber sector. Ti mber exports, on the other hand, ceased in 2004 due 
to the imposition of UN sanctions. They were expected to resume in 2008. 
                                                      
17 The large percentage of exports to Belgium may be due to the port of entry into Europe rather than 
reflecting actual bilateral trade with Belgium. 
18 Steve Radelet, 2007.  WT/ACC/LBR/3 
 Page 15 
 
 
  Table 4:  Major Exports of Liberia: 2000-2007  
(US$ millions) 
 2000 2001 2002 2003 2004 2005 2006 200719 
Timber 61.0 69.2 100.4 54.6 0.0 0.0   0.0    0.0
Rubber 57.1 54.0 59.2 43.9 93.4 126.7 150.1 170.9
Cocoa 0.6 0.5 0.4 0.9 3.5 5.7   1.8 1.2
Coffee 0.5 0.0 0.2 0.1 0.0 0.0   0.1 0.1
Iron ore 0.0 0.0 0.0 0.0 0.0 0.0   1.0 0.5
Gold 0.0 0.0 0.0 0.0 0.0 0.0 0.1 4.5
Diamonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.3
Other 1.1 4.3 6.3 9.5 7.0 7.8   6.4 4.6
Total exports 120.3 127.9 166.5 108.9 103.8 140.2 157.9 184.1
Source:   IMF, Liberia: Statistical Appendix, May 2006; Liberia, Central Bank of Liberia, 2008.  
The major exports over the last six years are presented in Table 4.  It is likely that actual exports are 
somewhat higher due to cross-border trade with  neighbouring countries (notably in cocoa and 
diamonds).  More importantly, this data exclud es the modern mining sector, which was traditionally 
the largest source of foreign exchange and will undoubt edly resume that role in the coming years.  
Indeed, pre-war exports of four iron ore companie s peaked at a present-day value of US$1.3 billion 
per year, dwarfing all other commodities.  While sm all quantities of previously mined iron ore were 
exported in 2006, newly mined pr oduct is unlikely to come on stream until 2011.  The mining 
operations of Arcelor-Mittal Steel will significantly ch ange the trade picture.  Scrap metal and palm 
oil are the two main products included under "other" exports.  
Despite expanding exports, especially of rubber, Libe ria has a growing trade deficit because of rapidly 
increasing imports associated with peacekeeping operations, donor programmes, and foreign direct 
investment.  The trade deficit is financed prim arily by large transfers from donors and to a much 
lesser extent, by net inflows of remittances.  A s ubstantial inflow of foreign direct investment 
financing was also projected for 2008-9, primarily in the mining sector. Net public borrowing from abroad has been non-existent, because of Liberia's severe debt problem. 
- Foreign Trade in Services (See Annex 1)
 
Given its natural resource-based economy, Liberia' s trade in services shows a recurring deficit. 
Information on domestic and foreign trade in services  is not easily available.   National balance of 
payments data from the Central Bank show tr ade surpluses only in sea and air transport, 
travel/tourism and operational leasing services.  There was a negative balance in Liberia's services trade in 2006, 2007 and 2008 which increased from US$938 million to US$1,006.6 million.  
(See Table 22 in Annex 1).  The GOL hopes to rapidl y develop the tourism sector but there is need for 
substantial investment in hotels and resorts; and physical infrastructure su ch as roads, bridges and 
other facilities are critical to get tourists to interesting destinations in Liberia.  It is not expected that 
Liberia will become a services exporter in new areas in the medium term.  The only significant 
growth in service sector activity since the cessation of  the conflict is in financial services (mainly 
banking), telecommunications (mobile  telephone and Internet) and distribution; but the latter is 
mainly in informal retail.  
4. Domestic trade in services including value and composition of foreign direct investment 
Due to capacity problems, there is no available info rmation on domestic trade in services in Liberia. 
Attempts to kick start the services sector after the fi nancial crisis will take some time.  However, the 
information available from the Central Bank and other authorities showed robust growth in the 
banking sector.  Similarly, there is very limited info rmation on foreign direct investment in Liberia. 
                                                     
 
19 Provisional. WT/ACC/LBR/3 
Page 16  
 
  The table below shows the extent of the decline in some key service sectors during the years of the 
civil conflict.  It will take substantial capital i nvestment just to bring domestic services production to 
pre-war levels.  
Table 5:  Value Added by Sector in Liberia, 1987-2005
 
(constant 1992 US$)  
 1987 2005 % Change 
Services 529.9 112.3  78.8 
 Electricity and water 18.2 2.7  85.3 
 Construction 39.0 8.0  79.4 
 Trade, hotels, etc. 71.5 19.2  73.1 
 Transportation and communication 89.5 27.6  69.2 
 Financial institutions 141.8 10.0  93.0 
 Government services 129.0 31.5  75.6 
 Other services 40.9 13.3  67.4 
Source:  Poverty Reduction Strategy, page 16.  
The National Investment Commission reported US$132 million in new investment in 2008, a 
36 per cent increase over 2007 and exceeding the target  of US$100 million.  Business registration data 
confirm the sharp increase in investment activity.   According to statistics from the Bureau of 
Domestic Trade at the MoCI, total business registrations in 2007 amounted to 5,337 businesses of 
which 4,555 were Liberian-owned and 782 foreign owned.  In 2009, a total of 7,445 businesses were 
registered, including 6,461 Liberian owned businesses and 984 foreign businesses.    
5. Information on financial movements related  to nationals working abroad, remittances, 
etc. 
Although there is insufficient data, remittances se nt to Liberia from Liberians working or living 
abroad is very significant in the local econo my.  Worker remittances in 2008 contributed 
US$45.6 million to the domestic economy. See table below. 
Table 6: Remittances:  Inflows and Outflows (US$ millions)  
 2007 January – November 2008 
 Inflows Outflows Net flow Inflows Outflows Net flow 
Banks 749.6 707.6 42.0 955.8 919.9 35.9
Private firms 3.2 3.1 0.1 3.3 3.0 0.3
Total 752.8 710.3 42.5 959.1 922.9 36.2
Worker Remittances 303.2 139.5 163.7 201.0 156.0 45.6
Source:  Central Bank of Liberia, Annual Report 2009. 
6. Information on growth in trade in goods  and services over recent years and forecasts for 
years to come 
Since the end of the civil conflict imports of go ods have been increasing steadily in Liberia and 
exports have also increased but from a very lo w base, which are still significantly below the 
pre-conflict period.  It is also believed that a fa ir amount of merchandise trade occurs informally and 
this is not documented.  Therefore, the formal trade data obtained from customs may not accurately 
reflect the true picture of international commerce.  It  is expected that imports will continue to increase 
as consumer goods, as well as capital goods, are needed to upgrade facilities that have deteriorated 
over the years.  But the significant increases in c onsumer imports in recent years will eventually level 
off.  As mining activity starts again, particular ly iron ore, there will be a significant increase in 
exports.  More gradually, investment in rubber an d other tree crops will lead to increased exports in 
the medium term.  The growth of merchandise trade in the formal sector is indicated in the table 
below.   WT/ACC/LBR/3 
 Page 17 
 
 
  Table 7: Growth in Foreign Trade  
 2004 2005 2006 2007 2008 
Growth of exports f.o.b. (%) -4.7 6.3 43.0 43.8 46.8
Growth of imports f.o.b. (%) 84.4 24.4 36.5 21.6 73.2
Source:  DTIS, 2009, page 3. 
As indicated previously, reliable information on pr oduction and trade in services is not available in 
Liberia.  Consequently, it is difficult to asses s recent changes or project future services trade 
performance. 
III. FRAMEWORK FOR MAKING AND ENFORCING POLICIES AFFECTING 
FOREIGN TRADE IN GOODS AND TRADE IN SERVICES 
1. Powers of executive, legislative and judicial branches of government 
The 1986 Liberia Constitution replaced the 1847 Cons titution which was suspe nded on 12 April 1980, 
following the coup d'état which overthrew the presidency of H. E. William R. Tolbert, Jr.  
The process of writing a new constitution began on  12 April 1981, under the National Constitution 
Committee (NCC), the 25-member body that was given the responsibility of drafting a new constitution for Liberia.  The NCC completed its  work in December 1982, and submitted the draft 
constitution to The People's Redemption Council (PRC) in March 1983 that was subsequently 
published for public debate. The PRC also a ppointed a 59-member Constitutional Advisory 
Committee (CAA) to review the draft constitution. The CAA completed its work on 19 October 1983. 
On 3 July 1984, the new constitution was subm itted to a national refe rendum and approved. 
On 6 January 1986 the new Constitution came into force. 
Liberia is a unitary sovereign state divided into counties for administrative purposes.  The form of 
government is Republican with three separate coordinate branches:  th e Legislative, the Executive and 
Judiciary.  Consistent with the principles of sep aration of powers and checks and balances, no person 
holding office in one of these branches can hold of fice in or exercise any of the powers assigned to 
either of the other two branches except as otherwi se provided for in the Cons titution; and no person 
holding office in one of the said branches shall serve on any autonomous public agency. 
The Executive Power of the Republic of Liberia is vest ed in the President who is Head of State, Head 
of Government and Commander-in-Chief of the Armed Forces of Liberia.  The president is elected by 
universal adult suffrage of registered voters and holds  office for a term of six years.  No person shall 
serve as President for more than two terms. The Presi dent has the power to conduct the foreign affairs 
of the Republic and in that connection is empowered  to conclude treaties, conventions and similar 
international agreements with th e concurrence of a majority of each House of the Legislature. 
Liberia has a bicameral legislature consisting of 64 representatives and 30 senators.  The 2005 
election placed a variety of representatives in the legislat ure, most for six-year terms.  Senior senators 
were elected for nine-year terms.  Under the Cons titution, the legislature has the power to approve 
treaties, conventions and such other international agreements negotiated or signed on behalf of the 
Republic and to regulate trade and commen ce between Liberia and other nations.  
The judiciary is divided into four levels, including justices of the peace, courts of record (magistrate 
courts), courts of first instance (circuit and sp ecialty courts), and the Supreme Court. Traditional 
courts and lay courts exist in rura l areas of the country.  The formal judicial system remains hampered 
by severe shortages of qualified judges and other judicial officials.  
There are elections for Paramount, Clan and Town Chiefs by the registered voters in their respective 
localities, to serve for a term of six years.  They may be re-elected and may be removed only by the WT/ACC/LBR/3 
Page 18  
 
  President for proved misconduct.  Locally, political  power emanates from traditional chiefs (town, 
clan, or paramount chiefs), mayors, and district co mmissioners.  Mayors are elected in principal cities 
in Liberia.  Superintendents appointed by the president govern the counties.  There are 15 counties in Liberia. 
2. Government entities responsible for making and implementing policies affecting foreign 
trade 
The Ministry of Commerce and Industry (MoCI) is responsible for making a nd implementing policies 
regarding domestic and interna tional trade under the Executive Act of 1974 that was amended in 
1987.  The functions of the MoCI include the following as provided for under the Act: 
…the promotion, development, regulation, c ontrol, operation and expansion of commercial, 
industrial enterprises and activities in the Repub lic. The Ministry of Commerce and Industry 
shall exercise broad powers with respect to protection of the public interest and the achievement of national goals through the est ablishment and enforcement of standards for 
commodities and for trade. Such services as are required by the public and government agencies in pursuit of these objectives shall be ad ministered by or under the purview of the 
Ministry. 
In further execution of its functions it shall also: 
− Establish and regulate commodity and trade standards; 
− Collect, evaluate and publish data pertaining to commerce, industry and transportation; 
− Establish and enforce standards of business practice; 
− Promote sound development of fo reign and domestic commerce; 
− Develop plans for the movements of goods and people within and without the Republic; and 
− Perform such other functions as may be assi gned from time to time by the President.
20 
Nevertheless, some activities such as administration of bilateral trade agreements such as ECOWAS 
and the Mano River Union are handled by other agencies such as the Ministry of Planning and Economic Development.  The responsibility for cu stoms procedures and duties and taxes on imported 
products is held by the Ministry of Finance.  In a ddition, the Ministry of Agriculture is responsible for 
sanitary and phytosanitary inspections at ports of entry; and the Environmental Protection Agency is 
involved when products such as chemicals and cont rolled substances are imported or exported.  The 
Ministry of Foreign Affairs is responsible for si gning trade treaties or agreements on behalf of the 
Republic of Liberia.  
As in most countries, responsibility for regulating tr ade in services is very diffuse and spread over a 
wide range of government bodies.  However, the regulatory regimes for most service sectors are under-developed or non-existent in Libe ria.  As a result, there is little in formation on this issue.  In the 
case of professional services there are associations  governing to some extent the legal profession, 
engineering and accounting.  
3. Division of authority between central and sub-central governments 
Liberia is a unitary state and full trade and treaty po wers are vested in and exercised by the central 
government.  
                                                     
 
20 See "An Act to Amend the Executive Law with Resp ect to the Ministry of Commerce, Industry and 
Transportation.  Approved 25 August 1987.  WT/ACC/LBR/3 
 Page 19 
 
 
  4. Legislative programmes or plans to change the regulatory regime 
- Commercial Law Reform Program  
The GOL is putting in place the legal and regulatory framework essential to en sure the efficient and 
equitable functioning of a free market economy;  it has begun developing comprehensive and 
contemporary trade and industrial policies with the assistance of ECOWAS and UNDP.  Additionally 
GOL has begun an ambitious progr amme of reforming Liberia's co mmercial law regime through the 
Commercial Law Reform Programme (CLRP).  This is a national effort lead by the CLRP National 
Steering Committee, chaired by the Ministry of Commerce and Industry (MoCI) and coordinated by 
the MoCI Office of Legal Counsel.  The CLRP will pl ay a vital role in Liberia's pursuit of economic 
recovery and growth. With the right legal framework  and simple transparent regulations in place, and 
their fair enforcement, the Governme nt can shift the former tide, towa rds greater adherence to the rule 
of commercial law.  Such reforms will create a more st able, predictable, transparent, fairer, efficient, 
and less corruption-prone commercial environment. 
The Commercial Law Reform programme entails, inter alia, an inter-ministerial effort to review 
present commercial laws, regulations and policies, and to promulgate new provisions that would 
enhance the legal framework of Liberia's trade, commercial and industrial sectors-forming the very 
foundation of its highly sought after sustainable econom ic recovery and growth.  This consolidated 
endeavour is one which ensues from a series of initial commercial law and policy reforms presently 
under review.  Those reforms include , inter alia , the review of the General Business Laws and 
Associations Laws, and the promulgation of a Commercial Code, assisted by the Investment Climate Facility for Africa and the Liberia Better Busin ess Forum; as well as the proposed reforms to the 
Investment Incentives Code, coordinated by the LR DC and the National Investment Commission.  It 
is envisaged that this effort to restore and e nhance the Rule of Law in  the trade, commerce and 
industry sectors, will set the pace for stability, predictability, investor confidence and economic 
growth in the not so distant future. 
There are on-going trade reforms aimed at increa sing trade freedom.  The GOL is seeking donor 
support for a programme that will focus on implemen ting reductions in tariff rates and removing 
unnecessary non-tariff measures.  This will be achieved by building Liberia's trade policy institutions 
and modernizing customs practices to global standards.  Activities to raise awareness of tariff 
harmonization and other trade re forms among Liberia's businesses a nd consumers will help ensure 
deeper implementation and greater impact of GOL reforms.  According to the World Bank Group's 
Investment Climate Reform Programme (ICRP), GOL has enacted 19 reforms in the area of trade 
since September 2007.  To mention a few, GOL acti ons eliminated pre-registration, site-inspection 
and charging fees for application forms.  Further,  registering a business in Liberia has also become 
easier.  The process now takes ten days, a substantia l reduction from up to 90 days several years ago.  
GOL is currently in the process of implementing a computerized national business registry that is 
expected to be completed by the first quarter of 201 0.  This project is being financed under the World 
Bank ICF.  Also, the Ministry of Finance (MOF) w ill automate Liberia's customs system with funding 
from the African Development Bank (AfDB).  The rollout  of this new software system is planned for 
the first quarter of 2010.  In addition, GOL is im plementing a "one-stop-shop" at the Freeport to ease 
customs clearance and tax payments. 
GOL's port sector reform programme is addressing issues of "trade capacity and infrastructure".  
The programme is undertaking major repairs of Monrovia's Port, as well as developing a public 
private partnership through a Build Operate Transf er (BOT) arrangement that will spur longer term 
investment in the port.  WT/ACC/LBR/3 
Page 20  
 
  - Trade Policy Strategy
 
There are two key trade policy opportunities befo re the GOL: re-engagement with the multilateral 
trading community at the World Trade Organizati on (WTO) and pursuing deeper integration within 
the region through the Economic Community of West African States (ECOWAS). The GOL has established The Liberia National Coordinating Co mmittee on Trade (LNCCT),  an inter-institutional 
committee comprised of MoCI, the lead Ministry  and stakeholders, from the private and public 
sectors as well as civil society.  The LNCCT is developing a trade policy strategy framework with the participation of the private and public sectors. The strategy will outline Liberia's trade priorities and 
its approach to the different negotiating forums. The aim is to reintegrate Liberia with its neighbours 
in West Africa and with the multilateral trading system. The process started in October 2008 in 
collaboration with ECOWAS Commission on Trade. As a first step, GOL will harmonize national 
tariff rates with the ECOWAS Common External Ta riff (CET). Further, GOL will negotiate to join 
the WTO and coordinate the effort th rough the LNCCT inter-agency process. 
5. Laws and Legal Acts 
See Annex 2 for a list of the relevant laws affe cting trade in goods and services and business activity 
in Liberia. 
6. Description of judicial, arbitral or administrative tribunals or procedures 
There are no judicial, arbitral or administrative tri bunals or procedures specifically dealing with trade 
matters.  
IV. POLICIES AFFECTING TRADE IN GOODS 
1. Import Regulations 
Import regulations in Liberia are provided for in the Customs Revenue Code Liberia Act of 2000.  
The Code provides for the schedules of duties imposed on import, procedures on valuation of imported goods, exemption from import duties, powers of  the Minister of Finance to make regulations 
to effect the provisions of the Act, and other charges including the licen ce fee for boned carriers, 
harbour dues and customs service fees. 
(a) Registration requirements for engaging in importing 
Liberia has no registration requirements for engaging in importing per se .  The only registration 
requirements existing are for all businesses.  The Inv estment Code of 2009, requires that any person 
who intends to establish an enterprise shall incorp orate and/or register a business organization in 
accordance with the Associations Law or such la ws as are relevant to the establishment of the 
enterprise.  
Registration of all business in Liberia is undertaken by the Division of Domestic Trade, Ministry of 
Commerce and Industry (MoCI).  All businesses involved in import or export are required to register 
with the Ministry first, then obtain approval from th e respective sector ministries before engaging in 
importing or exporting. For the highly monitore d sectors of petroleum, cement and rice, after 
registration with the Ministry of Commerce and In dustry, the businesses should  contact directly the 
Minister for Commerce and Industry, upon which th ey can start the import business after they are 
granted an authorization.  
After the Ministry of Commerce and Industry im plemented a programme to streamline business 
registration, the process on average takes about te n days and requires two signatories for approval. 
Liberia is in the process of implementing a computerized national business registry that is expected to  WT/ACC/LBR/3 
 Page 21 
 
 
  be in place by mid-2010.  The Business registration process depends on the type of business 
ownership (i.e. whether it is a sole proprietorship,  a partnership or incorporated). The process of 
registration is discussed below: 
- Sole proprietorship  
The process of registration of a sole proprietor business takes seven main  steps briefly discussed 
below: 
− Entrepreneur presents the name of the compan y to the Division of Domestic of the MoCI, 
which then conducts a name search; 
− Entrepreneur obtains a notary certificate from Probate Court, after which they present it to 
MoCI; 
− Entrepreneur obtains application form and a bl ank registration certificate from the Division of 
domestic Trade at MoCI; 
− After completing the application form, the entrepreneur needs to obtain a bill assessment.  
The bill assessment is based on a licence to co mmence business of L$4,200 (US$60); official 
revenue receipt (payment) for foreign owned co mpanies US$700, while for Liberian owned is 
L$2,000 (about US$30).  The bill is then attached  to the application form from the Division of 
Domestic Trade at MoCI; 
− Entrepreneur takes the application form with the bill assessment to th e Ministry of Finance 
where they obtain a Bank Payment Slip; 
− Entrepreneur makes payments at the Central Bank Annex at the Ministry of Finance and 
obtains a receipt; and 
− Entrepreneur submits rece ipt of payment to the Division of Domestic Trade of MoCI.  It takes 
about five days for the approval of this receipt after which the business is registered. 
- Partnership businesses  
The process is similar to that of sole proprietorshi p, except that in the case of a partnership, the 
entrepreneur presents a probated partnership agre ement from Probate Court while in the case of a 
sole-proprietorship, he obtains a notary certificat e.  Also, the fee (bill asse ssment) for locally and 
foreign-owned businesses is higher for the partnership than for sole-proprietorship.  For licensing to 
commence a business, the fee is L$4,200 (US$600); the official revenue receipt (payment) for 
foreign-owned businesses is US$800, while for lo cally owned businesses it is L$3,000 (about 
US$43). 
- Incorporated businesses  
The process of registering incorporated busi nesses involves eight steps as outlined below: 
− Entrepreneur submits Articles of Incorporation with proposed business name to the Ministry 
of Foreign Affairs desk at the Ministry of Fina nce.  The Ministry of Foreign Affairs conducts 
a name search to determine that the proposed na me is not in use, after which it accepts the 
Articles of Incorporation.  The standard forms of Articles of Incorporation are available from 
the Ministry of Foreign Affairs; 
− Articles of Incorporation are summarily reviewed and entrepreneur is presented with a fee 
assessment by the Ministry of Foreign Affairs; 
− Entrepreneur obtains Tax Identification numbe r (TIN) and bank payment slip from Ministry 
of Finance;  
− Entrepreneur makes payment at Central Bank Annex at the Ministry of Finance. The bill 
assessment is based on the number of issued sh ares.  The fee structure is as shown below: WT/ACC/LBR/3 
Page 22  
 
  Table 8:  Fee Structure for registration of incorporated business
 
Category Fee 
Licence to commence busin ess L$4,200 (US$60) 
Professional Licensing (law firms, accounting firms and so on) US$100 
Registration: Liberian owned 
                        Foreign owned L$4,000 (US$57) 
US$900 
Branch  ½ the amount of registration 
 
- Entrepreneur submits receipts  for incorporation to Ministry of Foreign Affairs desk at 
the Ministry of Finance; 
- After five business days, entrepreneur re turns to pick up the signed incorporation 
documentation; 
- Entrepreneur completes the required forms for licensing to commence business at 
MoCI, presents the Articles of Incorporation and receipt for fees to the directorate of Domestic Trade, MoCI; and 
- After five business days, the entrepreneur  picks-up signed documentation at MoCI 
and is fully registered to engage in business. 
For businesses thus registered to engage in impo rting, they have to obtain an Import Permit 
Declaration (IPD).  The IPD is discussed in detail under section (f). 
(b) Characteristics of national tariff 
The legal framework for the tariff regime in Liberi a is the customs law of the Republic of Liberia 
commonly referred to as the Customs Revenue C ode of 2000 and sometimes referred to as the 
Customs Code.  In line with the Customs Re venue Code and ECOWAS harmonized commodity 
description code, Liberia applies the Harmonized Commodity Description and Coding System as amended by the Protocol of Amendment of 24 June 1986 (HS) developed by the World Customs 
Organization, but has not signed the Convention.  Liberia's national tariff schedule is based on 
HS 1996. 
The Customs Revenue Code Liberia Act of  2000 is divided into four schedules: 
Schedule I:  Provides all the duties and the respec tive rates levied goods imported into Liberia.  
It provides duty rates for import duty, the Goods and Services tax (GST) and the exercise duty for respective products.  The schedule has a total of 5,476 tariff lines. 
In addition to showing the applicable im port duty, this schedule also provides the 
Goods and Services Tax (GST) and exercise duty applicable to different products. 
Schedule II:   Provides the list of entities that can import goods duty free.  Schedule III:  Gives the present authority to suspe nd, abrogate or modify any duties on refined gold 
or other minerals.  It empowers the Mi ning Board to establish temporally duties on 
any mineral subject to Chapter 6 of the Na tural Resources Law.  It also provides for 
the Ministry of Lands, Mines and Energy to assess and determine the value of rough 
(uncut) diamonds and other precious stones.  It provides for exports of goods to be duty free with a customs user fee of 2.5 per cent being levied on all unprocessed exportable goods. 
Schedule IV:  Provides for the levy of goods on transit.  It stipulates that the levy shall be no more 
than 2.5 per cent on the value of goods in trans-shipment. 
Liberia applies custom duties in both ad valorem  and specific duty basis.  The majority of the duty is 
on an ad valorem  basis.  The Revenue Code has a total of 92 (1.7 per cent) tariff lines in specific duty 
basis. Those lines include mate, some types of ri ce, some types of sugar confectionery, most of  WT/ACC/LBR/3 
 Page 23 
 
 
  beverages, spirit and vinegar, some paints and va rnishes, and some soaps, organic surface –active 
reagents products among other products. 
The customs import duty tariff structure for Liberi a is relatively simple.  The total government 
revenue for the fiscal year 2007/08 was US$206.9 million, with import duty contributing some US$87.1 million (43 per cent). The structure has ten basic ad valorem  duty basis including 
1.5 per cent, 2.5 per cent, 5 per cent, 7.5 per cent, 10  per cent, 11 per cent, 15  per cent, 20 per cent, 
25 per cent, 45 per cent and 50 per cent.  Import duty is an important component of Liberia 
Government's revenue.  
The most common ad valorem  duty is 5 per cent duty rate accounting for some 1,818 products 
(33 per cent of all the product lines in the Revenue  Code).  The second most common import duty rate 
is 15 per cent accounting for some 850 tariff lines (16 per cent of all tariff lines in the Revenue code). 
This is followed by duty rate of 7.5 per cent ac counting for 837 (15 per cent) products and the least 
common tariff rate is 45 with only two products.  Two products (scientific or school printed books, 
brochures, leaflets and similar prin ted matter, and monetary gold) are duty free.  The structure has 22 
specific duty rate bases.  
Liberia is in the process of phasing in the ECOW AS CET with the aim of harmonizing its tariff 
regime with the CET by January 2013.  The ECOWAS  CET has four categories and four rates (zero, 
5, 10, and 20 per cent) which on average are lower than tariffs currently being applied in Liberia. 
ECOWAS members applying the CET such as Sene gal and Ghana, currently have an average 
ad valorem  tariff of around 9 per cent, and it is expected  than on implementation of the CET, average 
tariffs in Liberia will fall to the similar level. In addition to the four bands for the ECOWAS CET 
tariff schedule, there are discussions on introduc ing a fifth band (for the sensitive products) of 
35 per cent.  Liberia is however, not in support of  this additional protective tariff as it will raise 
average tariffs. 
- Average weighted tariffs
 
Except for the countries who are members of the Ma no River Union (Côte d'Ivoire, Guinea and Sierra 
Leone), all the import duties apply on a MFN basis.  The weighted average tariff for Liberia in 2007 
was 15.6 per cent.   
- Tariff preferences  
Liberia is a member of Mano River Union (MRU) and the Economic Community of West African 
States (ECOWAS).  The MRU was established in 1973 by Liberia and Sierra Leone.  Guinea joined 
the union in 1980 and Côte d'Ivoire joined in 2008.  The goal of the Union was to foster economic 
cooperation among the member countries but currently  most of the efforts are geared towards 
maintenance of peace in the region.  Trade with me mber countries is duty free, but it is limited mainly 
to informal and unrecorded agricultural trade.  G oods traded in the region are accompanied with the 
region's proof of origin (a form indicating that the goods are of local origin).  
Liberia is also a member of ECOWAS which is currently implementing their Trade Liberalization 
Scheme (TLS).  Eight members of ECOWAS includi ng Benin, Burkina Faso, Côte d'Ivoire, Gambia, 
Ghana, Guinea, Mali, Niger, Nige ria, Senegal, Sierra Leone a nd Togo have removed tariffs on 
unprocessed products under the TLS.  Liberia has not ratified the protocol on the trade liberalization 
scheme but is currently in the process of aligning its tariff scheme to the ECOWAS one.  It is 
therefore expected that after this alignment, Liberi a tariffs will be the same as those being applied by 
other ECOWAS Member States, and that Liberia will give trade preferences to other ECOWAS 
member countries. WT/ACC/LBR/3 
Page 24  
 
  (c) Tariff quotas, tariff exemptions 
There are no tariff quotas in Liberia. There are several duty exemption programmes for defined 
importers.  These duty exemption programmes are pr ovided under various le gislation or orders. 
The Customs Revenue Code 2000 provides for exemp tion of duty payment on any goods imported by 
or on account of the president, government, local government or local government bodies, 
representatives of foreign governments or public in ternational organizati ons, as reasonably used 
households and personal effects in  reasonable quantities, under speci al circumstances relating to 
senior government officials, and as personal effects for personal use of people arriving from abroad.  
Equipment for construction of roads, forestry eq uipment, agricultural equipment and agricultural 
seeds are exempted from payment of import duty through presidential order.  Currently, exemption of 
duty on these products is extended through Preside ntial Executive Order No. 17 of 2009. The purpose 
of this duty suspension is to accelerate the p ace of road construction and rehabilitation, the 
development of the forestry sector and agricu ltural production in the country.  The Economic 
Stimulus Taxation Act of 2009 has provided exempt ions from payment of duty for all raw materials 
and capital goods for use in the agricultural sector.  Capital equipment and inputs imported by a 
contractor with an agricultural concession agreem ent have also been duty exempted.  In addition, 
medical and educational equipment and supplies purchased for use duri ng the life of the contract are 
also import duty exempted.  Raw materials (but not on gasoline and gas oil) as well as plant and 
equipment (including vehicles) and capital spare part s, and intermediate inputs including explosives, 
drilling mud, grinding balls, tires for trucks a nd similar items when imported by producers under a 
Mineral Development Agreement (MDA) or a petr oleum production sharing agreement are also duty 
exempt. 
The import duty on rice has subsequently been su spended through presidential orders.  Executive 
Order No. 19 of 2009 suspends the import tariff on rice as classified under tariff Nos. 1006.30.00 (in packing of more than 5 kg or in bulk); 1006.30.00 (in packing of at least 5kg); and 1006.40.00 (broken rice) under the Revenue Code of Liberia Act 2000. 
(d) Other duties and charges, specify ing any charges for services rendered 
Other charges on imported goods into Liberia include: 
1. Pre- Shipment Inspection (PSI) fee:  
The Revenue Code of 2000 and the Economic St imulus Taxation Act of 2009 provide for the 
customs service fee to cover the cost of customs services (including PSI) at ports and airports. Both Acts give the Minister of Finance authorit y to set and prescribe in a regulation this fee, 
which is to be paid to the collector in charge . The PSI fee paid for imports currently is shown 
in the Table below: 
Table 9:  PSI Fees for Imports
 
Product and value PSI fee paid 
All products: FOB value below US$3,500 No is fee paid 
FOB ranging from US$3,500 to US$15,835 US$190 
FOB above US$15,835 1.2% 
Crude Oil and Refined products  US$2 per metric tonne 
Rice  US$1 per metric tonne 
Source:  Customs, Ministry of Finance  WT/ACC/LBR/3 
 Page 25 
 
 
  2. ECOWAS Trade Levy (ETL): 
Imports into Liberia from non-ECOWAS (third) countries are charged 1.0 per cent of the 
value of imports (CIF) as ECOWAS Trade Le vy (ETL). This charge is the statutory 
contribution to ECOWAS secretariat for running of the community's operations.  According to the Protocol on ECOWAS trade levy, each EC OWAS member country is expected to pay a 
tax of 0.5 per cent of the value of imports (CIF) on all products imported from non-ECOWAS 
Member countries.  Liberia is currently charging 1 per cent - a charge higher than that other ECOWAS Member countries are charging in orde r to contribute towards its payment of the 
outstanding payments to the regional body.  
To date, Liberia (among other ECOWAS member countries) has neither ratified the Protocol 
on the Community Levy neither has it included th e levy in her financial instruments.  It is 
expected that upon ratification and inclusion in her financial instruments, and after clearance 
of the outstanding payments to ECOWAS, Liberi a will align its ECOWAS Trade Levy charge 
to that of the other ECOWAS member countries. 
3. Customs service fees: 
The Customs Revenue Code Liberia Act of 200 0 and the Economic Stimulus Taxation Act of 
2009 provide for fixed fees to be paid as a part  of customs service fees for services at customs 
ports and airports. These fees are fixed by the Minister of Finance and are to cover the following services: 
- Special delivery permit for release of goods before entry has been made; 
- Certificate of goods landed; 
- Certificate of examination; 
- Certificate of packages lost in transit; and 
 - Bill of health. 
For imports, the Economic Stimulus Taxation Act of 2009 provides that the customs user fee must not 
exceed 1.5 per cent of the CIF value of the importe d goods.  The charge applies to all imports at all 
borders including the imports that are exempt from duty payments.  Goods on trans-shipment are not 
subject to this fee. 
In addition to import duties, GST, PSI fees, ECOWAS Trade Levy and Customs service fee, 
importers of goods into Liberia ha ve to pay additional charges at the port or regarding customs 
procedures as shown in the table below.  Th e Economic Stimulus Ta xation Act of 2009 also 
empowers the Minister of Finance to set a fee directly related to the scanning of cargo containers.  
The fee must be proportionate to the length of the container and may not exceed US$7 per foot. 
Currently the scanning fee being paid is US$250. 
Table 10:  Others charges related to Imports and Exports
 
Type of charge Amount (US$) 
1. Port Charges 
Container handling fee (20 ft - US$101.50) 151.50 
Empty container handling fee (20 ft - US$11.50) 16.50 
Pelletized Cargo 3 per tonne 
Rice  3 per tone 
Cement 3 per tone 
Scrap metal 3 per tone 
Vehicles less than 3 tonnes (passenger cars and light trucks) 30 per unit 
Vehicles above 3 tonnes (passenger cars and others) 50 per unit 
Wheeled and tracked unit over 10 tonnes 100 per unit WT/ACC/LBR/3 
Page 26  
 
  Type of charge Amount (US$) 
Freeport bill of charge 102 
Load and gate pass fee 35 
NPA weigh bridge fee for import (20 ft - US$10) 20 
NPA weigh bridge fee for export (20 ft - US$35) 80 
Main exit fee 25 
To process manifest in the port 25 
2. Customs charges 
Fee for container escort  170 
Source:  Customs, Ministry of Finance  
(e) Quantitative import restrictions, including  prohibitions, quotas and licensing systems 
Liberia does not have quantitative restrictions or quotas and licensing systems but the import permit 
declaration may be considered as an automatic import licence. 
The Customs Revenue Code of 2000, prohibits  importation of all goods, wares, articles and 
merchandise mined, produced or manufactured who lly in any foreign country by convict labour, 
forced labour or indentured labour under penal sanc tions.  In addition, it pr ohibits importation into 
Liberia of light vehicles that are more than ten y ears old (since 1 January 2006).  The light vehicles 
include sedans, buses, pickups, four wheel drive vehi cles (jeeps) and light trucks.  Importation of rice 
and cement into Liberia is also controlled by th e Government of Liberia. This is achieved by 
approving as necessary importers of such commod ities by the Ministry of Commerce and Industry. 
(f) Import licensing procedures  
All importers of all products from all countries are required to obtain an Import Permit Declaration 
(IPD) to import goods into Liberia.  This declar ation is a requirement unde r the Customs and Revenue 
Code of 2000.  Section 14150 of this  Legislation requires all importers of all goods to make an entry 
and specify declaration by the importer (in prescribed form), giving facts relevant to the determination 
of the value of the goods for customs purposes. According to Liberia President's Annual Speech 
(January 2010), the government is considering moving away from the issuance of Import Permit 
Declarations. 
- Import Permit Declaration (IPD)  
The Import Permit Declaration (IPD) form is obtaine d from the Department of Foreign Trade of the 
MoCI. The form shows the importers' and sellers full name and address, importers Tax Identification 
Number (TIN), country of supply, country of ship ment, date of shipment and number of shipments, 
means of dispatch, port of loading and port of landing.  It also shows the cost of the goods being imported in the respective currency including the FOB va lue, insurance, freight costs, total CIF value, 
any other charges, 1.2 per cent of the FOB value, a nd the terms of payment. It also requires the HS 
code and the technical description of the goods; and quantity and the unit price.  
After completing the IPD, the importer pays a Pr e-Shipment Inspection (PSI) service fee to the 
designated bank, either Global Bank or International Bank. For most of the products, the PSI fee is 
1.2 per cent of FOB value of imports.  However, since 2006, for bulk shipments of rice, the fee has 
been US$1 per metric tonne; and for petroleum pr oducts it has been US$2 per metric tonne.  
The importer then submits the IPD and the PSI fees payment receipt to the MoCI for authorization. 
The approval of the IPD requires two signatures: Dir ector of Foreign Trade, Assistant Minister for 
Commerce.  The IPD is approved subject to Clean Report of Finding (CRF) by Bureau Veritas or its affiliate agents (BIVAC Company) as to quality  and quantity inspection and price comparison. 
The IPD is in five copies:  one for the importer, two for the MOC, one for Customs and one copy for  WT/ACC/LBR/3 
 Page 27 
 
 
  BIVAC.  The validity of the IPD is three months but  this validity can be extended for a further three 
months, to apply for a total of six months.  
(g) Other border measures 
There are no other border measures in Liberia wh ich have similar effects as quantitative import 
restrictions, prohibitions, quotas or licensing systems. 
(h) Customs valuation  
Liberia uses the Brussels Definition of Value (BDV).  It does not apply the WTO valuation methods 
set out in Article VII of the GATT 1994 nor does it apply the Customs Valuation Agreement as 
presented by the Agreement on Implementation of Article VII of the GATT 1994.  Currently, the 
Government of Liberia, in its tax reform process a nd modernization of the customs, is in the process 
of considering the necessary changes to its trade legislation in preparation for WTO accession.   
Import valuation in Liberia is based on the Custom s Revenue Code of Liberia Act of 2000. According 
to this Act, the value of any imported good is taken to  be the normal price.  This is the price that the 
goods would fetch at the time of their sale in  the open market between a seller and a buyer 
independent of each other.  Determination of the normal price takes into account all the costs and 
charges up to the point of entry into Liberia, but does not include the duties and taxes paid 
domestically, because it assumes that such  charges are born by the buyer.  
Valuation of export goods for which there is no specific value fixed by law for the purposes of 
levying duties is provided for by the Customs Revenue Code of Liberia Act of 2000.  An ad valorem  
duty is assessed by taking the market value of the goods at the place of exportation at the export time. 
The market value is taken as the price at which the exported goods are freely sold to a purchaser 
abroad, or in absence of such sales, offered for or dinary course of trade at the place of export. 
The market value includes the cost of containers  and coverings and all owner costs, charges and 
expenses incurred at the place of export before the goods are shipped.  
The Ministry of Finance (MoF) has requested le gal advice and secured funding to draft a new law 
consistent with the WTO Customs Valuation Agre ement and other relevant WCO protocols.  GOL 
estimates this law will be enacted in 2010.  The ne w Liberian customs code will impact on a number 
of other Liberian laws and practices.  These will need to be updated.  As part of technical assistance 
from donors, GOL requested additional expert advi ce to amend existing laws as necessary or draft 
new implementing legislation and re gulations consistent with the new customs code.  Further, it is 
recognized that understanding of WTO customs valuation practices is crucial to the full application of 
the new code.  It is intended to provide across-th e-board training of Liberia's customs officials, 
brokers, and other key stakehol ders on Liberia's new valuation process as well as customs 
modernization more broadly. Curriculum would in clude integrity building, WCO Kyoto principles, 
customer service and change management.  The Ministry also proposes developing Liberia-specific training materials on new customs valuation practices  and procedures at Freeport and other key ports 
and rural land border points.  These materials woul d be incorporated into a train-the-trainers 
programme housed in Liberia's customs authority .  A multi-media campaign would also include 
sensitization on customs valuation as well as custom s integrity, smuggling and customs fraud. The 
awareness campaign would develop educational brochures and other materials to inform businesses, brokers, and the public of new customs practices and frequently asked questions.  The campaign 
would consider a range of media such as radio a nd renting bill board space near ports and borders. 
(i) Other customs formalities 
The customs formalities required under the Liberi an Customs Revenue Code of 2000 are based on 
procedures and guidelines provided by the Inte rnational Convention on Simplification and WT/ACC/LBR/3 
Page 28  
 
  Harmonization of Customs Procedures (Kyoto Convention)  administered by the World Customs 
Organization (WCO).  Liberia is, however, not a contracting party to the Kyoto Convention.  
The Customs and Revenue code require that fo r entry and examination of imported goods, the 
importer must provide an input of the goods, a decl aration, Import Permit Declaration (IPD), a clean 
report of findings (issued by the pre-shipment ag ent and payment of all applicable duties and taxes 
before release of the goods. 
The Ministry of Finance in Liberia is in the pr ocess of modernizing the customs operations. In 2009, 
with funding from the African Development Bank, it began implementing the Automated System for 
Customs Data (ASYCUDA), to enhance the customs clearing process at the Freeport of Monrovia.  It opened a One-Stop-Shop at the largest port of entry – the Freeport of Monrovia – bringing under 
one structure, in harmonized operations, the Cu stoms Freeport Collectorate, a Central Bank tax 
payment window, BIVAC, and the National Port Authorit y.  This system has streamlined the customs 
clearing process, thereby facilitating a freer flow of international commerce and reducing business 
clearing cost with positive impact on economic growth.  Similar automation systems are to be extended to other custom points in 2010.  In add ition, the Bureau of Internal Revenue, under its 
modernization plan, is expected to automate its  processes in 2010 by installing the Integrated Tax 
Administration System (ITAS). The installation of these systems is an important element in the GOL's overall plan for enhanced transparency and accountability.
21 
The new custom processes can be categorized into  eleven steps and are discussed in detail below. 
(i)  Pre-arrival information and profiling  
The shipping lines send advance cargo information el ectronically to Customs. Customs may use the 
pre-arrival information for risk profiling and targeti ng.  This information may feed into the clearance 
process directly or may be used for future profilin g purposes and statistical analysis.  The consignee 
provides the broker with all relevant documents wh ich includes but is not limited to the Clean Report 
of Finding (CRF), bill of lading, the invoice and the packing list and so on.  
(ii) Arrival of vessel  
On arrival of the vessel, the cargo is offloaded and placed in the Port premises.  The captain of the 
vessel submits the Manifest to the Wharfinger (Cus toms officer) to confirm arrival of cargo. The 
boarding team carry out their due inspections of th e vessel and report their findings to the Wharfinger 
where applicable.  The Shipping line in collabora tion with National Ports Authority (NPA) conducts 
the tally of the arrived cargo.  The shipping line amends and stores the electronic manifest in AW to include any additions or subtractions to the manifest  before sending it to Customs for final validation. 
Customs then validate the electronic manifest  in preparation for the Broker's usage. 
(iii) Brokers preparation
 
The Broker proceeds to capture and register the declaration (IM4 or IM5 or IM6) ensuring that all 
fields relevant to the type of declaration are fille d in correctly to avoid any queries that may delay the 
process.  All supporting documents relevant to the regi me of the declaration should be attached to the 
declaration ready for submission to customs. 
(iv) Lodgement  
The broker then lodges the entry with the Customs.  Entries that are received at this point require to 
have been registered in ASYCUDA World.  Receipt  of the entry at the Lodgement section marks the 
                                                      
21 Annual Message to the Fifth Session of the 52nd National Legislature of the Republic of Liberia by 
President Ellen Johnson Sirleaf, 25 January 2010.  WT/ACC/LBR/3 
 Page 29 
 
 
  official receipt of the entry document into customs control.  Once received the entry should always 
remain within customs control and is never subsequen tly returned to the agent until at the distribution 
stage. 
(v) Selectivity  
On presentation, all entries are subjected to checks wh ich aim at ensuring that:  (i) the form is legible 
and complies with the requirements for a computer generated entry; (ii) the entry has been properly 
completed, e.g., signed and dated; and (iii) the appropriate supporting docum ents are attached.  If 
errors are identified in the entry, the documents are referred to the broker.  If there are no queries on 
the entry, it is passed to the next stage of processing, selectivity at assessment.  
The Assessment section is the hub of entry processi ng.  The Assessment Officer receives the entry 
package and calls the entry on the screen usi ng the Goods Clearance module. Once the entry is 
identified, the Assessment Officer activates the Assessment facility in ASYCUDA World.  This 
action triggers the system's selectivity and, as a conse quence, entries are automatically routed to either 
of four lanes:  
− Green Lane:  no selection - entry may be released without further scrutiny;  
− Yellow Lane:  selected for documentary check;  
− Red Lane:  selected for physical examination; and 
− Blue Lane:  selected for post clearance action, but entry may be released.  
After completion of documentary check or physical examination, entries are taken through the step of 
final assessment. Once duties, taxes and any other fees have been assessed, the Assessment officer 
will print an assessment notice and give it to th e Broker. The CRF may be examined using risk 
management principles. 
(vi) Queries and amendment  
This function is concerned with the treatment of en tries that are found to be in error at any of the 
functional areas in the clearing process. The query an d amendment function controls the transmission 
of error advices to the broker and also all subseque nt amendments to the entry data and conducts final 
assessment. 
(vii) Payment  
The broker obtains a manager's cheque from a comme rcial bank, and submits it to the Central Bank 
for payment of duty.  On receipt of the payment, the Central Bank inputs the payment details into the 
ASYCUDA World system and on validation prints a receipt to confirm payment and pass it to the 
broker.  The broker submits the receipt to the Customs officer in preparation for release. 
(viii)  Release  
When all Customs formalities are completed includi ng confirmation of payment, the Customs release 
officer will issue a printed Release Order to the appropriate broker.  Distribution of documents will be 
maintained and a Customs officer dedicated to this function is responsible for physically distributing 
the document copies that are retained by Customs and those that are delivered to other stakeholders.  
In addition, the officer is also responsible for passi ng entries originally rout ed to the Green lane and 
Blue lane to the Post Clearance Audit section.  WT/ACC/LBR/3 
Page 30  
 
  (ix) Post Clearance Audit
 
The Post Clearance Audit function is  responsible for the performance of  an off-line verification of the 
Green lane and Blue lane entries, after the goods have been released.  On completion of this action the 
entry is forwarded to the Archives Section.  In a ddition PCA is responsible fo r a percentage check of 
yellow and red cleared entries to provide quality assura nce of the system risk management profiles.   
(x) The NPA Process  
The National Ports Authority (NPA) obtains delivery order from the shipping line and prepares bills 
for payment of port charges.  The broker takes bills to the bank, pays and then takes deposit slip to 
obtain official receipt from NPA. Finally the NPA prepares a gate pass. 
(xi) Exit  
On completion of all processes related to Customs a nd other stakeholders, an exit note is issued from 
ASYCUDA World by the officer at the exit gate.  Together with the gate pass, the exit note is 
presented to the Exit gate officers/stakeholders like NPA to allow the vehicles/cargo exit the premises 
of Customs. 
Customs formalities at the port of entry in Li beria are summarized in the figure below:   WT/ACC/LBR/3 
 Page 31 
 
 
  Source:  Customs Department: Ministry of Finance 
     
SELECTIVITY  
- OFFICER TRIGGERS SELECTIVITY  
- RED AND YELLOW ARE SELECTED  
PRE - ARRIVAL INFORMATION  
RECEIVED  
PHYSICAL EXAMINATION
-OFFICER CONDUCTS 100% PHYSICAL 
EXAMINATION  OF GOODS
-RECONCILES FINDINGS WITH 
DECLARATION
-WRITES AN EXAMINATION REPORT IN 
INSPECTION ACT
PROFILING 
-OFFICER & OTHER STAKEHOLDERS  
-RECEIVE THE INFORMATION.    -STUDY THE INFORMATION.   
PAYMENT PROCESS  
BROKER’S PREPARATION  
- COMPILES RELEVANT DOCUMENTS  
- CAPTURES AND REGISTERS ENTRY  
DOCUMENTARY CHECK
-OFFICER EXAMINES  DOCUMENTS
-RECONCILES FINDINGS WITH 
DECLARATION  
-WRITES AN EXAMINATION REPORT IN 
INSPECTION ACT  
RELEASE  
- OFFICER ISSUES RELEASE  
ARRIVALOF VESSEL  
CAPTAIN PRESENTS MANIFEST TO  
WHARFINGER  
BOARDING PARTY INSPECTS THE  
VESSEL  
SHIPPING LINE TRANSMITS FINAL  
ELECTRONIC MANIFEST TO CUSTOMS  
LODGMENT  
- BROKER SUBMITS DECLARATION  
- OFFICER FACE VETS  
DECLARATION
CONFORM  ? 
CONFORM ?
ASSESSMENT  
- GREEN  &  BLUE DECLARATIONS  
ASSESSED DIRECTLY  
- RED AND YELLOW FINAL ASSESSED  
- PRINT ASSESSMENT NOTICE FOR  
PAYMENT AT BANK  
YES
QUERY  &  AMENDMENT
-OFFICER INFORMS BROKER OF 
QUERY  
-AMENDS DECLARATION
-RECORDS AMENDMENT IN 
INSPECTION ACT  NOYES 
EXIT NOTE ISSUED AND  
TRUCK EXITS  
NPA PROCESS  
POST CLEARANCE AUDIT
-OFFICER EXAMINES  DOCUMENTS
-RECONCILES FINDINGS WITH DECLARATION
-QUERIES THE DECLARATION WHERE 
NECESSARY  
-WRITES AN EXAMINATION REPORT IN 
INSPECTION ACT  
All consignmentsGreen & Blue DeclarationsIMPORTSCLEARANCE PROCESS FLOWCHART (PSI & DESTINATION INSPECTION ) 
Ready for final assessment
MOC RISK ITEMS & 
BIVAC PROCESSESWT/ACC/LBR/3 
Page 32  
 
  (j) Pre-shipment inspection 
The Revenue Code provides for the examination of bo th exports and imports by the Customs.  Due to 
the limited capacity of the Customs to undertake the examination and inspec tion functions, these have 
been contracted out.  The Government of Liberi a requires pre-shipment Inspection (PSI) for all 
imports and exports.  Currently PSI for all produc ts (except for logs) is undertaken by BIVAC 
International (Bureau Veritas Group).  PSI for logs  is undertaken by SGS (Société Générale de 
Surveillance).  BIVAC has a liaison office in Monrovia Liberia. It has a total of 51 staff, some based 
in the Office in Monrovia and other staff based in  other five border points in Liberia.  PSI is 
conducted by regional BIVAC centres in  various parts of the world.  
PSI is required for goods of FOB value of equal to  or exceeding US$3,500.  The importer submits the 
authorized IPD and three copies of the pro forma invoice and the bank receipt payment slip (receipt 
showing payment of BIVAC fee
22) to BIVAC liaison office in Monrovia. BIVAC then electronically 
transmits the IPD (now the Pre Shipment Inspectio n Order- PIO) to the appropriate Bureau Veritas 
Regional Centre overseas depending on the country of supply of the imports.  The regional centre then 
sends an email or a fax correspondence to the selle r asking for the technical details of the goods, a 
copy of the pro forma invoice, the location and the date when the goods will be available for 
inspection.  Physical inspection of the goods is th en undertaken by the region al centre, in presence of 
the seller with the aim of ensuring that the descrip tion corresponds to the details on the IPD and the 
pro-forma invoice.  Inspection is particularly done  to establish the quantity and price description of 
the goods.  An inspectors' report is therefore issued.  
The regional centre uses the inspectors' report to de termine the correct customs classification code for 
goods which have been physically inspected.  Ba sed on the final commercial invoice provided by the 
seller, the Centre performs a final price analysis  and calculates the value for duty purposes.  If the 
quantity, quality, specification and price are found to conform or have been corrected (if there was a discrepancy), the regional Centre issues a Clean Re port of Finding (CRF).  The CRF is electronically 
transmitted to the BIVAC Liaison Office in Monrovi a, which delivers the printed documents to the 
importer.  The importer submits this CRF to th e customs for the clearance and goods delivery. 
Products exempted from PSI include:  goods importe d with a FOB value below US$3,500; reasonable 
amount of personal effects and hou sehold items; supplies for diploma tic missions; and United Nations 
Organizations; gold and precious stones; explosiv es, pyrotechnic products, arms and ammunitions, 
weapons and implements of war imported by the Li berian armed forces and Liberian Police Service; 
fresh fish caught by local Liberian canoes; and goods imported by parcel post not exceeding 
US$1,000. 
(k) Application of internal taxes on imports 
The Customs Revenue Code Liberia Act of 2000 provi des for application of two types of internal 
taxes on imports.  The Goods and Services Tax (GST) of 7 per cent is levied on sale of all goods and 
services in Liberia.  Excise duty ranging between 5- 30 per cent is levied on some products including 
some miscellaneous edible preparations, most bevera ges, spirits and vinegar, all ores, slags and ash, 
all mineral fuels, mineral oils and products of thei r distillation, bituminous substances, mineral waxes, 
some inorganic chemicals, some essential oils and resinoids, some articles of stone, some types of used vehicles and some articles of funfair, table or  parlour games.  Details of the products that are 
subject to excise taxes are below.  For most of the beverages and spirits, imported ones have a higher 
excise duty than those that are locally produced. 
                                                     
 
22 The BIVAC inspection services' fee is 1.2 per cent of FOB value of imports and 1.4 per cent of FOB 
value of exports.  However, since 2006, for bulk shipping of rice, the fee is US$1 per Metric Tonne; and for 
petroleum products it is US$2 per Metric Tonne.    WT/ACC/LBR/3 
 Page 33 
 
 
  Chapter 17:  Sugar and Sugar Confectione ry - Section 1701.91.10 to 1701.99.90 
Chapter 21:  Miscellaneous Edible Preparation - Section 2104.10.90, 2106.90.00  Chapter 22:  Beverages, Spirits and Vinegar Chapter 24:  Tobacco Chapter 25:  Salt; Sulphur; Earths and St ones - Section 2516.11.00 and 2524.00.00 
Chapter 26:  Ores, Slag and Ash 
Chapter 27:  Mineral Fuels, mineral Oils and Products 
Chapter 28:  Inorganic and Organic Compounds - Section 2804.10.00 to 2804.50.00 Chapter 33:  Essential oils, perfumery of Co smetics - Section 3303. 00.10 to 3303.00.90, 
Section 3305.10.00 to 3305.90.00 
Chapter 38:  Miscellaneous Chemical produc ts - Section 3811.21.00 and 3819.00.00 
Chapter 68:  Articles of Stone, Plaster, Cement, Asbestos etc. - Section 6811.10.00, 6812.20.00 to 
6813.10.00 
Chapter 85:  Electrical machinery and Equipment - Section 8516.31.00 to 8516.90.00 Chapter 87:  Vehicles - Section 8703.24.11 to 8703.23.29 and 8703.33.11 to 8703.90.00 
Chapter 95:  Toys, Games and Sport Requisites - Section 9504.10.00 to 9504.90.00 
Chapter 96:  Miscellaneous Manufactured Articles - Section 9601.10.00, 9601.90.00 and 
9602.00.00 
(l) Rules of origin 
The only rules of origin regime which is applicab le to Liberia currently is the Mano River Union. 
Liberia is in the process of finalizing Acts to ra tify ECOWAS Protocols and Conventions to ensure 
Liberia's compliance with initiatives undertaken by  ECOWAS to improve customs administration in 
the region.  It is expected that when this is ach ieved, Liberia will apply the ECOWAS rules of origin 
regime for its intra-ECOWAS trade.  Liberi a is also engaged in the on-going ECOWAS- EU 
Economic Partnership Agreements ne gotiations.  When this process is completed, it is expected that 
the country will apply the EU- EPA rules of origin regime.  
Liberia has also been approved to benefit from th e Africa Growth Opportunity Act (AGOA) and will 
therefore need to implement the preferentia l rules of origin requirements for AGOA. 
(m) Anti-dumping regime 
The anti-dumping regime of Liberia is provided for in the Customs Revenue Code of 2000.  Under 
this provision, the Minister of Finance is to pr escribe an increase or decrease in the rate of customs 
duty applicable to goods whose import has been confir med to cause injury to a domestic industry.  
This decision would be taken afte r consultation with the Deputy Minister of Finance for Revenue and 
the Minister of Commerce and Industry, and after an  investigation has been carried out to ascertain 
injuries caused by the importations.  Anti-dumping procedures in Liberia are not based on or follow 
the WTO rules.  
(n) Countervailing duty regime 
Countervailing duty is provided for in Section 1201 of the Customs Revenue Code of 2000.  This 
legislation provides for imposition of new and additional duties on foreign goods as remedies as a 
way of Presidential action.  The President is aut horized to proclaim and declare those duties when 
they determine they will be in the public interest. Th e President is also authorized to issue a ban on 
imports of all products from the respective country if the country continues to discriminate against 
Liberia.  This is to be done after determining that  the country of origin of the imported goods imposes 
directly or indirectly on Liberian goods an unr easonable charge, exaction, regulation or limitation 
which is not equally enforced on like goods of othe r foreign countries, and when the country directly 
or indirectly discriminates against the commerce of Liberia by law, administrative regulation or practice. WT/ACC/LBR/3 
Page 34  
 
  (o) Safeguard regime 
Liberia has no formal safeguard regime.  Safeguard  measures consisting of duties to protect infant 
industries, promote growth and subsequently enhance local mark ets have been implemented or 
removed before by way of presidential executive or ders especially for cement, petroleum, rice and 
wheat flour.  Executive orders have also been used to suspend application of such protective duties, 
e.g. the Executive Order No. 5, of 2006 suspende d the protective tariff on cement, which had being 
implemented since 2006. Executive Order No. 9 of 2007, further extended this duty suspension. 
2. Export Regulations 
Export regulations are provided for in the Custom s Revenue Code of 2000. The Code provides; a 
schedule of taxes imposed on exports, procedures of valuation of exports, and all other charges related 
to exports. 
(a) Registration requirements for engaging in exporting 
There are no export registration requirements with respect to exporting.  All exporting firms however 
have to be businesses located in Liberia (as requi red by the Investment Act of 2009), and should 
obtain an Export Permit Declaration.  
(b) Customs tariff nomenclature, types of duti es, duty rates, weighted averages of rates 
The Customs tariff nomenclature in Liberia for all products is provided for by the Customs Revenue 
Code and ECOWAS harmonized commodity descri ption code.  Liberia applies the Harmonized 
Commodity Description and Coding System as amended by the Protocol of Amendment of 24 June 1986 (HS) developed by the World Custom s Organization, but the country has not signed the 
Convention.  
The Customs Revenue Code and the Economic Stimulus Taxation Act of 2009 provide for duty free 
exports of goods from Liberia.  The same legislations also provides for payment of a customs user fee not exceeding 2.5 per cent  and 1.25 per cent of the FOB value of all unprocessed and semi-processed 
exportable goods respectively.  For the finished goods not paying a 2.5 per cent custom's user fee, a flat processing fee of US$100 is charged per ship ment (regardless of the number of containers).  
(c) Quantitative export restrictions, including  prohibitions, quotas and licensing systems 
There are no export quotas in Liberia.  Since 2001 the United Nations Security Council imposed and 
has recently renewed an embargo on the diamond a nd timber sectors of Liberia.  Currently, the 
country is undertaking reforms in the forest a nd other resources sectors to make their operations 
conform to internationally accepted standards. 
In November 2008, through the Executive Order No. 6, the President ordered a pause in the 
exportation of unprocessed natural rubber as the govern ment takes steps to curb the decline in the 
Liberian rubber industry. 
(d) Export licensing procedures 
There are no export licensing procedures in Liberia.   The Customs Revenue Code further provides for 
there being no requirements of permit or prohib itions and administrative obstacles to export.  
The exporter is however, supposed to be a register ed business enterprise in Liberia (see section above 
on business registration in Liberia), and is  required to obtain an Export Permit Declaration (EPD).  WT/ACC/LBR/3 
 Page 35 
 
 
  - Export Permit Declaration (EPD)  
The Export Permit Declaration (EPD) form is obtaine d from the Department of Foreign Trade of the 
MOC.  The form shows the exporter and buyer's fu ll name and address, Exporter Tax Identification 
Number (TIN), country of destination, country of shipment, date of shipment and number of 
shipments, means of dispatch, port of loading and po rt of landing. It also shows the value of the goods 
being exported in the respective currency including th e FOB value, insurance, freight costs, total CIF 
value, any other charges, 1.4 per cent of the FOB va lue, and the terms of payment.  It also shows 
information on the description of the goods being ex ported including the HS code and the technical 
description of the goods; and qua ntity and the unit price.  
After completing the EPD, the exporter pays a PSI se rvice fee to the designated bank, either Global 
Bank or International Bank.  For all export products , the PSI fee is 1.4 per cent of FOB value of 
exports.  
After payment of the fee, the exporter submits the EPD and the PSI fees payment receipt to the MOC 
for authorization.  The approval of the EPD requires four signatures:  Director of Foreign Trade, Deputy Minister for Commerce and Industry, Assistant Minister for Commerce and Minister for 
Commerce.  The EPD is approved subject to Clean Report of Finding (CRF) by Bureau Veritas or its 
affiliate agents (BIVAC Company) as to quality  and quantity inspection and price comparison. 
The EPD is in five copies:  one for the importer, two for the MOC, one for customs and one copy for 
BIVAC.  The validity of the EPD is three months but  this validity can be extended for a further three 
months, to apply for a total of six months.  
(e) Other measures 
Liberia does not have any such measures  in place and none are being considered. 
(f) Export financing, subsidy and promotion policies 
Liberia does not have export financ ing, subsidy or promotion policies in place.  The Ministry of Trade 
and Industry in 2008 implemented a programme spons ored by the International Trade Centre (ITC) 
called the Liberia Export Development Project (LEDP) .  One of the objectives of this programme was 
to train some members of staff in trade intellig ence, business advocacy, entrepreneurship development 
and export promotion.  It is envisaged that when this programme comes to an end, the trained staff 
will form an export promotion unit at the Ministry of Commerce and Industry. 
(g) Export performance requirements 
There are no export performance requirements in Liberia. 
(h) Import duty drawback schemes 
The Customs Revenue Code of 2000 provides for duty drawback on exports.  The drawback is 
allowed on two types of goods:  
(i) Goods incorporating imported components.  In this case, drawback is equal to the duty paid 
on imported components incorporated in the goods  and is allowed after the goods have been 
exported or deposited in a warehouse or  free zone by an importer; and 
(ii) Goods produced or manufactured from imported materials or goods in the manufacture of 
which imported materials have been used, when  import duty has been paid on such materials 
and not drawn back, when such goods are either  exported or deposited in a warehouse or free 
zone for exportation or shipment as stores. WT/ACC/LBR/3 
Page 36  
 
  Drawback in this case is equal to the duty paid on the imported materials used in the 
manufacture of goods, and the goods have been exported or deposited in a warehouse or the 
free zone by the manufacturer. 
However, Executive Order No. 3 of 2006 on Govern ment Revenues and Obligations abolished all 
custom duty drawbacks and tax credits, therefore dut y drawback and tax credits do not currently exist 
in Liberia.  It should be noted that Executive Orders  are of limited duration, so a longer term approach 
to duty drawback may have to be implemented by the GOL. 
3. Internal policies affecting foreign trade in goods 
(a) Industrial policy, including subsidy policies 
Liberia is in the process of developing an indus trial policy but it does not have subsidy policies 
affecting foreign trade in goods. 
(b) Technical regulations and standards, in cluding measures taken at the border with 
respect to imports  
Due to the lack of technical capacity, there are no written domestic standards or regulations for 
products imported into Liberia but standards are used locally for rice, flour and cement.  There is also 
no mechanism for testing products when they arrive in Liberia.  BIVAC, the pre-inspection agency is 
apparently expected to test imported products in or der to certify their quality but this does not appear 
to be happening.
23  There are divisions of Standards in four Ministries:  Agriculture; Health and Social 
Welfare; Public Works; and Commerce and Industry.   These divisions operate independently.  There 
is a draft Standards Act which seeks to develop a si ngle standards authority or bureau for Liberia but 
it has not yet passed through the legislative process.  Liberia became a member of the International 
Standards Organization (ISO) in 2009.  See Annex 5 for the relevant authorities regarding technical 
and sanitary or environmental measures at the border with respect to imports and exports.  
The Act amending the Executive Law with Respect  to the Ministry of Commerce, Industry and 
Transportation of 1987 defines one of the Minist ry of Commerce's functions as to establish and 
regulate commodity and trade standards for the countr y.  In addition, it empowers the Ministry to 
exercise broad powers with respect to protection of the public interest and the achievement of national 
goals through the establishment and enforcement of standards for commodities and for trade. 
The Environmental Protection Agency (EPA) is also involved in ensuring and monitoring of standards 
particularly with respect to products that may lead  to pollution or natural resource degradation.  The 
Act establishing EPA authorizes the agency to be  the principal authority in Liberia for the 
management of the environment and shall co-ordinat e, monitor, supervise and consult with relevant 
stakeholders on all activities in the protection of the environment and sustainable use of natural 
resources.  In addition, the Act empowers the Agency  to initiate and co-ordinate actions required in a 
state of environmental emergency or any other situation which may pose serious threat to the 
environment and public health.  It also empow ers the Agency to ensure the preservation and 
promotion of important historic, cultural and spiritu al values of natural resources heritage and, in 
consultation with indigenous authority, enhance indigenous methods for e ffective natural resource 
management. 
With the anticipation of joining the WTO and the re cognized need to increase trade particularly under 
the current preferential trading opportunities pr esented by ECOWAS, the Everything But Arms 
(EBA) initiative of the EU, and the AGOA of the United States, Liberia recognizes the need to 
                                                      
23 There is lack of clarity regarding BIVAC's role in quality assessment.  It appears that BIVAC 
focuses on mainly valuation of imports and exports and the collection of requisite fees.  WT/ACC/LBR/3 
 Page 37 
 
 
  establish and develop a single National Standards Bu reau (NSB) to help it meet international and 
regional (ECOWAS) standards. 
A national standard bureau (NSB) is also important  for the development of Liberia's trade capacity 
and export potential, and there is therefore a propo sal to develop a national Standards Body with 
donor support.  The functions of the proposed body are four fold:  (i) the development and 
enforcement of national standards; (ii) promotion of  consumer awareness and protection; (iii) serve as 
a liaison with the regional and international standard bodies; and (iv) training of standards officers, 
inspectors, consumers and the media personnel. The Standards Bureau will have the participation of 
both public and private sectors. The body will pull t ogether the functions of standards currently 
undertaken by the four Ministries of Agriculture, Health and Social Welfare, Public Works and 
Commerce and Industry.  Ghana Standards Board (G SB) and the Standards Organization of Nigeria 
(SON) have agreed to assist with the establishm ent of a NSB upon request from the Government of 
Liberia.  The Standards Organization of Nigeria has already trained five Liberian standard officers on 
standards, certification, inspection, and accreditati on and on standards drafting.  Liberian standards 
personnel now test imported light bulbs, batteries a nd bottled water.  A UNIDO project based at the 
Ministry of Trade and Industry is focuse d on standards for pesticides and rubberwood. 
In addition, the West Africa Quality Programme funded by the EU and implemented by UNIDO for 
ECOWAS countries is also assisting with the preparation of laboratories in Liberia, including the Standards Laboratory currently under development by the UNDP.  It will be housed at the Ministry of 
Public Works and should be in ope ration before the end of 2010. 
(c) Sanitary and phytosanitary measures  
The Quarantine Act (of the Agricultural Law of Libe ria, Title 3 of the Liberia Code of Laws, as 
revised in 1972) prohibits entry into Liberia of in jurious plant and animal pests and diseases existing 
in foreign countries, and for prevention of such pest s should they be established in Liberia, as well as 
for regulation of export of plants and animals to conserve dwindling species and to protect the food 
supplies of Liberia.  The Act authorizes the Minist er of Agriculture to:  (i) prohibit importation into 
Liberia of plants or animals which are poisonous , noxious or which produce deleterious drugs or 
which may be infected with harmful pests or disease s; (ii) promulgate regulations for control of the 
exportation of living plants and animals from Liberia in the interest of preserving dwindling species and conserving the natural resources of the country; (iii) promulgate rules and regulations pertaining 
to the control of the importation and exportation of  living plants and animals of every description and 
in any form to protect the agriculture and food supplies of the country. 
In line with the Quarantine Act, ensuring sanitary and phytosanitary st andards for plants and animal 
products exports and imports from and to Liberia resp ectively is the responsibility of the Ministry of 
Agriculture's Department of Technical services.  Im ports of any plants, plant material (except logs) 
and animal material can be impor ted or exported by any business enterprise which has been registered 
in Liberia by the MoCI. 
To enforce sanitary and phytosanitary regulatio ns, the disease and surveillance system of the 
Department of Technical services has technical staff at the division headquarters, at the border entry 
points and at the post office. 
- Procedure for the import of animal or plant material
 
After the importer has received IPD approval from the MoCI, they have to obtain an Import Permit 
from the Ministry of Agriculture, Department of  Technical Services, and Quarantine Division.  
The Division also has a laboratory under the Nati onal Quarantine and Environmental Services, whose 
function is to perform any necessary tests.  Howe ver, the laboratory lacks the necessary capacity and 
is therefore rarely used for testing.  With assistance of UNIDO, Liberia is in the process of WT/ACC/LBR/3 
Page 38  
 
  constructing a national laboratory wh ich is expected to have the n ecessary capacity to undertake the 
testing. 
To apply for the import permit from the Ministry of Agriculture, an importer has to present two copies 
of a phytosanitary certificate from the country of origin.  One copy is left with the Department of Technical Services while the second copy is sent to the border. 
With respect to imports of plants and plant material, the permit shows the following information:   full 
address of the importer; the customs office at which the imports are made; the quantity, description of 
the goods, country and place of origin; the full address of the supplier of the goods; and the means of 
conveyance authorized.  The importer pays a fee of US$50 for the permit.  Before issuing the permit, 
the Department of Technical Services ensures (thr ough record checks) that the country of origin is 
free of pests and relevant diseases.  The permit is signed by the Deputy Minister/Technical Services 
and the Director of the Quarantine Division.  It is subject to the condition that several documents 
including the General Phytosanitary Certificate, tr eatment, special condition, inspection upon arrival, 
and active Growth Inspection documents are present ed to the quarantine inspectors at the port of 
arrival for inspection in Liberia.  The permit is valid for three months. 
Once the goods are at the border of entry, the Depa rtment of Technical Services officials inspect the 
goods through visual inspection befo re it is determined whether they are accepted into the country or 
they have to undergo some testing.  If disease symp toms are identified, then the goods are quarantined 
and the officials decide whether or not to take th em to the laboratory (at the national Quarantine and 
Environmental Services) for testing.  
- Import of products of Animal origin
 
With respect to imports of products of animal origin, before issuance of the Import Permit, the 
importer has to submit two copies of a Zoo-Sanitary Certificate issued by the exporting country.  One 
copy is left with the Department of Technical Services, while the sec ond is sent to the border point of 
entry.  This certificate shows that the carcasses to  be imported are fit for human consumption, that 
they were from an animal that did not show any si gns of disease on a specified date, that they satisfy 
the requirement of the articles contained in the in ternational Zoo-Sanitary code on relevant diseases, 
and that the products satisfy the requirements set by the international Zoo-Sanitary Code concerning 
the relevant diseases and radioactive activities.  
The import permit for products of animal origin shows: the permit validity period (thirty days), full 
address of the importer, the means of import conveyance and the port of entry.  It also shows the type 
of the animal product, its description, the units, quantity, unit weight and the country of the animal 
product origin.  Before issuing the permit, the De partment of Technical Services ensures (through 
record checks) that the country of origin is free of communicable diseases.  The Import Permit is 
signed by the Director of Veterinary Services Di vision, Deputy Minister Technical Affairs and is 
approved by the Minister of Agriculture.  
Once the goods are at the border of entry, the Depa rtment of Technical Services officials at the 
boarder inspect the animal through visual inspecti on before it is determined whether they are accepted 
into the country or they have to undergo some qua rantine and further testing. In presence of disease 
symptoms, then the animals are quarantined. If the symptoms persist, the animals are taken to the 
laboratory (at the national Quarantine and Environmental Services) for testing.  
- Export of plant and animal products  
After obtaining an export permit from the MoCI, an expor ter of animal or plant products has to obtain 
an export permit for plants and other goods gove rned by phytosanitary regulations from the 
Quarantine Division of the Department of Technical Services of the Ministry of Agriculture.  This  WT/ACC/LBR/3 
 Page 39 
 
 
  permit shows the quantity and the description of th e goods being exported, the country and place of 
origin, the full address of the consignee and the means of conveyance authorized. The exporter has to 
pay US$50 for the permit to the Ministry of Financ e.  The permit is issued subject to the condition 
that prior to exportation, the exporter has to obt ain the General Phytosanitary Certificate, meet 
treatment and the necessary special conditions.  Ther e is inspection upon departure and active growth 
inspection has been done.  The permit is signed by  the Deputy Minister/Technical Services and the 
Director of the Quarantine Division. 
The quarantine division provides certification of the goods to be exported.  The purpose of the 
inspection is to certify that the plants or plant pr oducts for export have been inspected according to 
appropriate procedures and are considered to be free from quarantine pests and any other injurious 
pests and that they are considered to conform wi th the current phytosanitary regulations of the 
importing country.  Due to lack of capacity, the insp ection is mainly visual.  After the inspection, a 
certification document is issued. 
The certificate shows information on disinfestati ons and or disinfection treatment carried out. 
Specifically it shows:  the date the inspection is  done, the treatment given to the goods, the active 
chemical ingredient, duration and temperature, and c oncentration.  It also shows the description of the 
consignment including, the name and address of the exporter, the declared name and address of the 
consignee, name of the produce and quantity declar ed, botanical name of the plants, number and 
description of packages, distinguished marks, plac e of origin, declared means of conveyance and 
declared point of entry.  This certification is signe d by the authorized officer and is delivered to the 
National Quarantine and Environmental services agency of the Department of Technical services, 
which issues a Phytosanitary Certificate. 
(d) Trade-related investment measures 
Liberia does not apply or require any trade-related investment measures as per the Agreement on 
Trade Related Investment Measures (TRIMs) of the WTO. 
(e) State-trading practices  
There are four companies that might be considered  as State Trading Enterprises (STEs) in Liberia. 
Although, they exist, not all are actively involved in trading due to lack of financial and human 
resources.  These enterprises are listed below. The GOL only has minority shares in the last one on 
the list.  See Annex 6 for details on these companies.   
− Liberia Produce Marketing Corporation (LPMC); 
− Liberia Petroleum Refining Company (LPRC); 
− National Oil Company of Liberia (NOCAL); and 
− Liberia Cement Corporation (CEMENCO). 
(f) Free zones 
There are no longer any functioning commercial fr ee zones in Liberia.  However, the Customs 
Revenue Code provides for establishment of the Free Po rt of Monrovia.  The Free Port of Monrovia is 
a designated part of the harbour at Monrovia.  Th e provisions of the Customs Revenue Code apply at 
the Free Port.  The code provides that any goods, whether domestically produced or imported can be 
brought into the Free Port for purposes of being stor ed, exhibited, sold or subjected to a process of 
packing, unpacking, sorting, blending, gradin g, cleaning, repairing, marketing, assembly or 
manufacture and that the goods resulting from these process may be exported, shipped for use as 
stores or removed from the customs. WT/ACC/LBR/3 
Page 40  
 
  (g) Free economic zones 
Liberia does not have economic free zones but is inte rested in developing such facilities.  According 
to its Poverty Reduction Strategy (PRS), the country  is considering developing one or more Special 
Economic Zones (SEZs) to promote investment, re duce production costs, generate employment, 
diversify production and better integrate Liberian  firms with regional and global markets.  
(h) Trade-related environmental policies 
The Act creating the Environment Protection Agency  (EPA) of the Republic of Liberia (approved on 
26 November 2002) requires that an environmental impact assessment be undertaken on all projects, 
policies, programmes and activities specified by the Ag ency in consultation with relevant ministries 
and agencies and published by notice.   
According to this Act, a developer, or project proponent, shall not commence, carry out, execute, 
implement or conduct a project or activity for whic h an environmental impact assessment is required 
unless an environmental impact assessment has been  concluded.  Further, a licensing or permitting 
agency or authority under any law in force in Liberia is not to issue a licence for any project for which an environmental impact assessment is required under the Act, unless the applicant produces to the 
licensing agency or authority an environmental im pact assessment licence or permit issued under the 
EPA Act and its regulations. 
In addition to the environmental impact asse ssment requirement, the Act provides for an 
Environmental Easement Order to be established by the EPA, if and when deemed necessary.  The purpose of the easement orders is to facilitate  environmental conservation and enhancement by 
imposing certain obligations on the use of land for th e benefit of the environment. It may be imposed 
in order to:  
− Preserve flora and fauna;  
− Preserve the quality and flow of water in  a dam, lake, river or aquifer;  
− Preserve any outstanding geological, physiographical, ecological, archaeological, or historical 
features of the burdened land;  
− Preserve a view;  
− Preserve open space;  
− Permit persons to walk in a defi ned path across the burdened land; 
− Preserve the natural contours and features of the burdened land;  
− Prevent, or restrict the scope of any activity on the burdened land wh ich has as its objects the 
mining and working of minerals or aggregates; and 
− Prevent or restrict the scope of any agricultu ral activity on the burd ened land; Create and 
maintain works on burdened land so as to lim it or prevent harm to the environment.  
The Ministry of Agriculture in its efforts to ach ieve environmental conservation and preservation has 
developed two policies:  
− Nation-wide awareness and mainstreaming enviro nmental considerations in all agricultural 
activities: production, processing; manufacturing; value addition; marketing; and 
− Establishing and enforcing appropr iate policy instruments to en sure environmental protection 
from agricultural and related land use activ ities including logging, grazing, mining, and 
fishing.   
The policy document further proposes strategi es for achieving conservation and preservation as: 
supporting measures which subject all sector polic ies and plans to Strategic Environmental 
Assessments (SEAs) and projects to Environmental Impact Assessments (EIAs); Implementing  WT/ACC/LBR/3 
 Page 41 
 
 
  programmes to conserve soil and water resources and for conservation farm ing; and, supporting 
sustainable management programmes for region al and trans-boundary resource, among other 
strategies. 
(i) Mixing regulations 
Liberia has no mixing regulations. 
(j) Government-mandated counter-trade and barter 
Liberia has no government mandated c ounter-trade or barter policies. 
(k) Trade agreements leading to co untry-specific quotas allocation 
Liberia does not have trade agreements l eading to country-specific quota allocations. 
(l) Government procurement practices 
Public procurement in Liberia is regulated by th e Public Procurement and Concessions Act of 2005. 
In addition to procurement, the PPC Act also regul ates concessions in Liberia.  The objectives of the 
Act are to promote integrity, fairness, accountab ility and public confidence in the procurement 
process; and achieve transparency in the procedur es, processes and decisions relating to procurement 
and concession agreements, among other objectives.  
The Public Procurement and Concessions Commission (PPCC) was established as a distinct corporate 
entity to oversee all public procurement and con cessions processes in accord ance with the Public 
Procurement and Concessions Act (PPCA) of 20 05.  The Commission began to implement its 
mandate as provided for by the PPCA in 2006 followi ng the first post-war inauguration of Liberia's 
President, Her Excellency, Madam Ellen Johnson Si rleaf.  The Commission has the core objective to 
achieve transparency in the procedures, pro cesses and decisions relating to procurement and 
concession agreements and ensure "Value for Mone y" through the economic and efficient use of 
public funds. 
The Act applies to the procurement of goods, works and services, financed in whole or in part from 
public funds including the disposal of government stores, plant and equipment and all other public 
concessions.  The application of th e Act has three main exceptions: 
− The procurement of goods, works and services fi nanced by loans taken or guaranteed by the 
government and/or aid granted under an in ternational agreement which prescribes the 
procurement procedures to be employed;  
− Agreements executed by the Central Bank of Liberia in respect of monetary policy; and 
− Procurement of military or national security equipment.  
Entities classified as contracting authorities are t hose that use public funds and those where the 
government has majority ownership.  No contract values are excluded from the application of the Act. 
The public procurement regime of Liberia follows inte rnational best practices and is fully transparent 
and predictable.  The PPCA and regul ations stipulate all the relevant procedures for call for proposals, 
tendering and bidding, evaluation of proposals and awar d of contracts. Full details can be found in the 
following document:   Public Procurement and C oncessions Commission.  Public Procurement and 
Concessions Act 2005. Implementation Manual, April 200924.  
                                                      
24 See http://www.ppcc.gov.lr/content.php?s ub=Publication&submenu=Publication. WT/ACC/LBR/3 
Page 42  
 
  (m) Regulation of trade in transit 
The Customs Code of 2000 and the Economic Stimul us Taxation Act of 2009, provide for regulations 
on trans-shipment and goods in transit.  Acco rding to the Revenue Code, goods in transit, 
trans-shipment or on temporary importation, when entered in Liberia are relieved from payment of 
customs duty.  However, goods in transit through Libe ria have to pay a levy of 2.5 per cent of the CIF 
value of goods, while those on indirect trans-shipme nt i.e., goods initially destined for Liberia, but 
later the importer decides to trans-ship, (e.g. due to  market conditions), the charge is a flat rate of 
US$500. 
In addition, goods in transit when imported throu gh a port in Liberia may be stored in designated 
"transit warehouses" as the necessary custom's cl earance is being undertaken.  The Customs Code 
gives the Minister of Finance authority to a pprove places at various ports of entry as transit 
warehouses. It also requires that the importer of  goods in transit or goods which have to be 
trans-shipped make an entry for such goods.  The entr y consists of an IPD, made by the importer and 
completed in line with the MOC specifications.  Th e IPD is also accompanied by the goods invoice. 
4. Policies affecting foreign trade in agricultural products 
(a) Imports Most of the tariffs applicable to agricultural goods are in ad valorem , except for a few products whose 
duty is applied at specific level. Agricu ltural products with specific duty include Mat ė and 
semi-milled or wholly milled rice, whether or not  polished or glazed.  The import duty on rice has 
however been suspended through Executive Order No . 19 of 2009.  This order provided an extension 
of an earlier Executive Order, No. 11  on suspension of the tariff on ri ce.  This includes rice classified 
under tariff Nos. 1006.30.00 (in packing of more than 5kg or in bulk); 1006.30.00 (in packing of at 
least 5kg); and 1006.40.00 (broken ri ce) under the Revenue Code of Li beria Act 2000. The purpose of 
suspension of the duty is to continue bringi ng relief to the public on this staple food. 
The ad valorem  duty ranges from 1.5 per cent (for some products of milk and cream) to 25 per cent 
(for some fruits including pears, apricots, cherries, peaches and strawberries).    
Under the provisions of the Executive Order No. 17 of 2009, duty on agricultural seeds, agricultural 
equipment and related implements has been suspe nded. The purpose of the duty suspension is to 
contribute towards stimulation of the activities in th e agricultural sector after years of war, and to 
provide incentives under the infrastructural and economic revitalization pillars of the Poverty 
Reduction Strategy by encouraging private sector  investment in the procurement of essential 
agricultural equipment, agricultural seeds and rela ted implements. Importers of seeds and agricultural 
machinery and implements, therefore pay only the Custom User Fee (CUF) and the ECOWAS Trade 
Levy (ETL). 
- Rice
 
Rice is Liberia's main staple food with approximate ly 63 per cent of households producing this crop. 
Most of it is produced for subsistence, with ma rketed quantity accounting for only 7 per cent of the 
total produce.  A total of about 4.2 million 50kgs ba gs of rice are consumed annually in the country, 
with almost all of this consumption being importe d.  The Table below shows rice import statistics for 
the period 2006-2008.   WT/ACC/LBR/3 
 Page 43 
 
 
  Table 11: Rice Imports (2006-2008)  
Rice imports/year 2006 2007 2008 
Total imported (MT) 174,022 193,342 305,369 
Total imported (50 kg bags) 3,480,438 3,866,837 6,107,373 
CIF value (US$ M) 58.4 70.9 200 
Source:  MoCI  
The Economic Stimulus Taxation Ac t of 2009 identifies the Ministry of Agriculture as the renewal 
resource development agency for rice . The Food and Agriculture Policy25, currently being 
implemented in the country aims at: 
− Achieving sustainable sufficiency in rice through self-reliance,  with much greater focus on 
production from swamp/lowla nds, and by small holders; 
− Sustainable transformation of traditional s ubsistence rice farmers into commercial rice 
farmers focusing on increased access to essential inputs, improved strategies for upland cultivation, mechanization, value addition  and linkages to markets; 
− Establishing large-scale commercial rice farms through the direct involvement of the private 
sector (national and foreign), within specified agro-ecological zones that offer comparative 
advantages in rice production.  Such enterprises will enter into for partnership agreements 
with smaller commercial rice producers as out-growers to the enterprises; 
− Value addition and development of a commerc ial rice industry, with rice value chain 
development starting at the farm level; and 
− Establishment of a Rice Development Fund and a Rice Advisory Board. 
In order to ensure affordability of this staple f ood product, the Government of Liberia has from time 
to time intervened in rice import. The import duty on rice has subsequently been suspended through 
Presidential Executive Orders:  Executive Order No. 19 of 2009 suspends the import duty on rice as 
classified under tariff Nos. 1006.30.00 (in packing of  more than 5kg or in bulk); 1006.30.00 (in 
packing of at least 5kg); and 1006.40.00 (broken rice) under the Revenue Code of Liberia Act 2000. 
In addition to the suspension of duty, the Pre-Ship ment Inspection (PSI) fee for rice imports has been 
relatively lower than that of other products.  While the PSI for the ot her commodities has been 
US$190/tonne or 1.2 per cent of FOB value (which ever is higher), that for rice has been 
US$1 per Metric Tonne since 2006.   
- Wheat flour
 
Wheat flour is another important food commodity whic h is monitored in Liberia.  The purpose of the 
quantity and price monitoring is to support the infant  domestic milling industry while at the same time 
trying to ensure affordability of this basic food st uff.  There are no specifi c incentives targeting the 
wheat sector except the incentives provide d for the general agricultural sector. 
(b) Exports 
Liberia has no export subsidy measures. 
(c) Export prohibitions and restrictions 
Liberia has no prohibitions and restrictions on e xport of agricultural products.  However, the 
Executive Order No. 16 on the Moratorium on the Exportation of Unprocessed Natural Rubber of 
2008 banned all export of unprocessed natural rubber from Liberia until otherwise advised. 
                                                      
25Executive Order No. 5 of 2006.  Ministry of Agriculture (2008).  Food and Agriculture Policy and 
Strategy:  From Subsistence to sufficiency. WT/ACC/LBR/3 
Page 44  
 
  Unprocessed natural rubber is defined as the raw material tapped from rubber trees, not having gone 
through any processing to change its physical or ch emical composition; or natural latex, coagulum, 
cup lump, tree lace, bark scrap, ground scrap and any other form of unprocessed or processed natural 
rubber (including concentrated latex and dry rubber produced or derived from the latex produced by 
rubber trees. 
The purpose of the ban is to curb the decline in the Liberian rubber industry until appropriate policies 
and frameworks can be put in place to improve the si tuation of the rubber industry in order to ensure 
redevelopment, new development, increased produc tion, increased job opportunities and increased 
revenue to government. 
(d) Export credits, export credit guarantees or insurance programmes 
Liberia does not have export credits, export cr edit guarantees or insurance programmes.   
(e) Internal policies 
Liberia does not have internal policies providing domestic support. 
5. Policies affecting foreign trade in other sectors 
(a) Textiles regime 
Liberia does not have a specific textiles regime. 
(b) Policies affecting foreign trade in other major sectors  
- Policies in the Mining Sector
 
Liberia is richly endowed with several mineral resources, the most important ones being iron ore, 
diamonds and gold.  Other mineral resources present in the country are base metals (copper, zinc), 
platinum group metals, uranium, columbite-tantalite (Coltan), bauxite and phosphate.  There are also 
industrial rocks and minerals such as sulphur, cl ays (kyanite), granite, silica sand, heavy mineral 
sands (rutile and ilmenite) and diabase/dolorite.  Mi ning was the mainstay of the Liberian economy 
before the civil war, contributing up to 62 per cent of export revenue in the 1970s and 1980s. Potential 
mining areas are predominantly in the North-W est parts of the country.  Recently, mining has 
contributed to a negligible proportion of Liberia' s GDP but is expected to expand rapidly as mining 
investments rehabilitate infrastructure destroyed during the civil war. 
For the years before 1979, Liberia was one of the la rgest exporters of iron ore in Africa.  Iron ore 
mining was an important economic activity, accounti ng for about 64 per cent of the total country's 
exports, which represented about 25 per cent of th e country's GDP.  The mid 1970s and early 1980s 
decline in the world steel market  combined with the depletion of the country's high-grade iron ore 
reserves, adversely affected Liberia's iron industr y.  Major producers closed down their operations 
due to technical and financial problems.  For some time, there was no significant mining iron ore 
activity in the country, but recently the govern ment signed a Mineral Development Agreement 
(MDA) with the world's largest steel manufacturing company (Arcelor Mittal) and substantial mining 
activities are expected to resume in the period 2010-2011. 
Gold and diamond mining is mainly artisanal, but  an important source of revenue for rural 
communities involved in this activity. Artisanal diamond mining is an important source of jobs, 
providing 90 per cent of employment in some rural areas.26 The total number of people involved in 
                                                      
26 UNDP, Poverty and Social Impact Asse ssment on Artisanal Diamond Mining.   WT/ACC/LBR/3 
 Page 45 
 
 
  diamond and gold mining is estimated at 100,000. Gold mining in the country is recently gaining 
momentum.  By 2007, the Public Procurement and Concessions Commission (PPCC) was negotiating 
a second MDA and the Ministry of Lands, Mines and Energy (MLME) had issued several prospecting gold mining licenses.   
Diamond mining and exports were suspended by the UN Security Council Resolution No. 1343 of 
2001 in order to stop proceeds from the sale of the so-called "blood diamonds" considered to be 
financing the war in various countries.  The Govern ment then introduced an appropriate monitoring 
scheme to comply with the requirements of the international diamond certification system (the Kimberley Process), established in 2000 to trac k the origin of diamonds in the international 
market.  As part of this monitoring scheme, th e Government established a Diamond Valuation and 
Certification department in the Ministry of La nds, Mines and Energy (MLME) and field inspection 
offices in the diamond resource areas of the country.  The UN then lifted the ban in April 2007, and in 
May 2007 Liberia was granted the preliminary Kimber ley Process certification.  Liberian moratorium 
on diamond mining was lifted in July 2007 and the ML ME has since then issu ed several prospecting 
and mining licenses for diamonds.  
Although Liberia's offshore territorial waters and ex clusive economic zone c ontain various promising 
oil-bearing structures, there is no offshore explor ation activity which has taken place in the country 
since 1985.  Oil exploration started again in 2001 w ith an offshore seismic survey.  Another seismic 
study of the shelf commissioned by the National O il Company of Liberia (NOCAL), was undertaken 
in 2004, detecting potentially petroleum-bearing struct ures in the west and east of the shelf.  In 2004 
the country offered 17 blocks for international companies to acquire licenses for oil exploration, and 
in November 2007 NOCAL launched th e second bid round for ten blocks situated in ultra-deep waters 
(3,000 m).  There is no oil drilling currently.  The legal and regulatory framework governing the 
mining sector in Liberia includes: 
The New Minerals and Mining Law of April 2000.   Section 2.1 of the New Minerals and Mining Law 
(NMMA) of 2000, provides that minerals on the surface of the ground or in the soil or subsoil, rivers, 
streams, watercourse, territorial waters and con tinental shelf are the property of the Republic of 
Liberia and anything pertaining to their explora tion, development, mining, and export shall be 
governed by the mining law.  The law also defines the rights and obligations of holders of mineral 
rights towards social and environmental management  plans, fiscal and regulatory obligations, and 
provisions for mine permit ting and mine closure. 
Regulations of the New Minerals and Mining Law.  These regulations define specific procedures by 
which mineral rights are acquired, transferred, resc inded, or modified. The Mineral Policy of Liberia 
of 2010 provides that comprehensive regulations will be  developed.  
The Public Procurement and Concessions Act of 2005.   This Act sets out a transparent and 
competitive system for the concessioning of known state mineral assets. 
The Customs Revenue Code of Liberia Act of 2000.  The Code contains fiscal and taxation rules of 
general application but explicitly reserves Chapter 7 for rules on the taxation of the natural resources 
industry to be included in Phase II of the Tax Reform Program.  The Act Amending the Customs 
Revenue Code of Liberia Act of  2000 (referred to as the Draft Economic Stimulus Act of 2009) 
provides for and specifies the fees and loyalti es payable by holders of mining concessions. 
The Investment Act of 2009.   The Act provides for national treatment of foreign investments in all 
sectors. WT/ACC/LBR/3 
Page 46  
 
  - Mineral Development Agreements (MDAs)
 
Major projects in the mining sector often require a special agreement to clarify terms and conditions 
regarding schedules of investment, mine closure and land reclamation, the use of shared infrastructure, and the economic, environmental, and social contributions of the mine to the region. 
The New Minerals and Mining Law of 2000 requires the Ministry of Mines to conclude either a 
Mineral Exploration Agreement (MEA) or a Minera l Development Agreement (MDA) with a future 
holder of mining rights prior to the issuance of either an Exploration or a Mining Licence, 
respectively.  Currently, both are covered under MDAs.  In the case of a Mineral Exploration Agreement, the NMML does not require the inclusion of fiscal arrangements whereas the Mineral Development Agreement for a Class A Mining Licen ce must contain the mutual fiscal and tax 
obligations of the parties to the MDA.  
The validity of the MDA is 25 years, and this can be renewed until reserves are exhausted. Most of 
the MDA terms are negotiable since the agreement is a concession, and can be applied during or after exploration. The MDAs cover a maximum area size of 1,000 km
2. The rent for exploration is 
US$0.25/acre per annum while the mining rent is US$3/acre per annum. Incentives provided under 
the MDA include:  duty-free privileges on mining equipment, free repatriation of profits and 
dividends and income tax not exceeding 30 per cent. 
The Mineral Policy of Liberia of 2010, provides that  the MLME will assess th e future relevance of 
MDAs once the minerals regulatory regime is comple ted. This could permit Liberia to move to the 
international system of exploration licenses a nd may obviate the need for MDAs, except for 
exceptional projects that require amendments to  the prevailing legal and regulatory system. 
The fiscal terms for the mining sector are currently  governed by the NMML, the PPCA, the Revenue 
Code and Mineral Development Ag reements (MDA) for individual projects.  The provisions of 
various laws have in the past led to negotiations  over each individual exploration or mining project 
resulting in differing terms and therefore to uncertainty for the potential holders of mining titles.  The IMF has undertaken a review of mining ta xation and the Government has accepted its 
recommendations.
27 Revisions of the NMML (royalties and fees) and the Economic Stimulus Act of 
2009 (which was recently passed into law) clearly speci fy all the fees, charges and loyalties to be paid 
by holders of MDAs. 
- The Minerals Policy of Liberia  
The Minerals policy of Liberia became effectiv e in March 2010.  The policy provides a tool to 
monitor and report on the mining sector's contribution, create a competitive business environment, 
and establish a framework for equitable sharing of mineral resource rents.  It aims at achieving a 
broad-based development, growth and poverty reduction and significant improvement in the 
governance culture of the country.  It seeks to give adequate indications to the investment community 
(both national and foreign) of a competitive mineral regime that is informed by international trends, 
adheres to international norms, is grounded in local  conditions and is accountable to national common 
interests. It also focuses on advancing the interest s of present and future generations of Liberians in 
the context of attracting private investment to fac ilitate the development of mineral resources, but in 
an optimal manner that responsibly manages the resource and maximizes the economic linkages for 
sustainable local and national growth and development. 
According to the Minerals Policy, the principle of  First-In-First-Assessed (FIFA) will form the basis 
for conferring mineral exploration rights over ar eas where the State's mineral assets are unknown, and 
a transparent and competitive auction system will be used to concession known mineral deposits 
under the PPCA.  Application forms for exploration as well as licence fees will  be standardized. To 
                                                      
27 IMF, Liberia:  Reforming th e Fiscal Terms for Mining and Petroleum, September 2007.   WT/ACC/LBR/3 
 Page 47 
 
 
  ensure coherence in decision-making, the harmoniza tion of the New Minerals and Mining Law with 
other statutes being administered by other institutions that directly or indirectly affect the development of the mineral sector, particularly the PPCA and the Environmental Protection Agency (EPA), will be effected.  The mining policy pr ovides that environmental protection guidelines for 
mineral exploration and mining will be formulated  jointly by the EPA and the MLME.  It also 
provides that no significant mineral operation has to be permitted before environmental and social 
impact assessments have been conducted, evaluated and approved  by the Liberian Government. 
- International Extractive Industri es Transparency Initiative (EITI) 
 
In April 2008, through a presidential proclamati on, the Government of Liberia declared the 
implementation of the EITI Criteria and Principles as an integral part of the Government's policy of 
accountable and transparent resource governance.  Impl ementation of this policy is coordinated and 
led by the Liberia Extractive Industries Transparen cy Initiative (LEITI), a multi-partite partnership 
established by, and existing among, the Government, Civil Society, the private sector, and Liberia's 
development partners.  
According to this policy, the disclosure, publi cation and other reporting obligations as well as the 
manner of disclosure and publication established by a nd/or associated with the implementation of the 
EITI are binding on all relevant agencies of th e Government as well as all extractive companies 
operating and/or seeking to operate in Liberia.  A cceptance of the EITI Criteria and Principles as well 
as an expressed commitment to comply with all EI TI obligations are also a standard, non-negotiable 
condition to the award of any contract or concession to extractive companies to operate in Liberia.  
In addition, all mineral development agreements , production sharing agreement or any concession or 
licence contain a standard provision regarding the ob ligation of the concessionaire/licence to disclose 
and accept the publication of all payments made to th e Government or to any other person or entity.  
The policy obliges and requires every extractive company, especially oil, mining and logging 
companies, operating in Liberia to disclose, fully , timely and in the manner required by the EITI 
Criteria and Principles, all payments made to every ag ency and level of the Government of Liberia, or 
to any other person or entity.  The government ministries and agencies referred to in the policy 
include:  the Ministry of Finance; the Ministry of Lands, Mines and Energy; the National Oil Company; the Forestry Development Authority (F DA); and other relevant agencies of Government. 
The Economic Stimulus Act of 2009 provides for royalties and surface rent as well as other charges to be paid to the government of Liberia by all the mining projects. The details are as follow: 
1. Royalties  - Royalties are payable at each time of shipment.  Iron ore royalty is 4.5 per cent, 
gold and other base metals, 3 per cent and 5 per cent for commercial diamonds. 
2. Surface rent  - Any producer who has entered into a MDA is required to pay surface rent as 
follows: 
− Land within a mining exploration contract area:  US$0.20 per acre; 
− Land within a mining licence area - contract years 1-10: US$5 per acre; contract 
years 11-25:  US$ 10 per acre. 
3. Income tax  – The Economic Stimulus Act of 2009 imposes an income tax of a rate of 
30 per cent on taxable income from a mining project.  
4. Surtax on income from high yielding projects  - Income from a high–yielding
28 mining project 
is subject to a higher marginal rate on income tax on taxable income.  
                                                      
28 A high-yielding project is one whose pre-tax rate of return on total investment is greater than 22.5%. WT/ACC/LBR/3 
Page 48  
 
  - Policies in the Forestry sector
 
Liberia has a total forestry land area of 9.58 m illion hectares, representing over 40 per cent of the 
biodiversity in West African region, 204 timber spec ies.  Its forestry potential is considered high. 
Before 2003, the forestry sector contributed signi ficantly to the economic growth, employing about 
7,000 persons, accounting for 50 per cent and 20 pe r cent of the country's export earnings and GDP 
respectively.  In 2003, the United Nations Security  Council (UNSC) imposed sanctions on Liberia log 
and timber exports because of poor governance in the sector and its role in fuelling the conflict.  
After a legal review of the sector, and institution of reform measures, the UNSC lifted the sanctions in 
2006.  The reform measures included the enactment of a National Forest  Reform Law, forest land use 
planning, forest institutional reforms, and transpar ent control of timber prod uction through a Chain of 
Custody System.  Commercial forest logging resume d in 2008 and has been increasing.  The forest 
resources are held in trust by the Republic for the be nefit of the people.  Exceptions to this rule are 
communal forests and forests that have been devel oped on private or deeded lands through artificial 
regeneration.  The Law governs th e prospecting, use, transport, processing and trade of all forest 
products.  All forest operations must comply with the Forest Management Guidelines and the Liberian 
Code of Forest Practices (issued in June 2007).  The latter is referenced in full in all concession 
contracts.  The legislation and regulations govern ing the forestry sector are described below.  
Forests Act of 1953 (An Act for the Conservation of the Forests of the Republic of Liberia).  This Act 
was followed by a supplementary Act of 1957.  Th e two Acts provide for the establishment of the 
Bureau of Forest Conservation in the Department  of Agriculture and Commerce and describe the 
basic legal framework for forest and wildlife management in the country. 
FDA Act of 1976 (An Act creating the Forestry Development Authority (FDA).   This Act was 
amended in 1988, in 2000, and lately in 2006 by th e Act adopting the National Forestry Reform Law 
of 2006.  These Acts provide for the Forestry Deve lopment Authority as a corporate body pursuant to 
the Public Authorities Law.  They give the FDA th e power to establish Government Forest Reserves, 
Native Authority Forest Reserves, Communal For ests and National Parks. The Act adopting the 
National Forestry Reform Law of 2006, further empowe rs the FDA to set regulations in the forestry 
sector.  This has resulted in ten core re gulations covering a range of activities: 
− Regulation No. 101-07 on Public Participation; 
− Regulation No. 102-07 on Forest Land Use Planning; 
− Regulation No. 103-07 on pre qualifications; 
− Regulation No. 104-07 on Tender,  Award and Administration; 
− Regulation No. 105-07 on pre-felling Operations; 
− Regulation No. 106-07 on Benefits sharing; 
− Regulation No. 107-07 on Forest fees; 
− Regulation No. 108-07 on Chain of Custody; 
− Regulation No. 109-07 on Penalties; and 
− Regulation No. 102-07 on Rights of Private Land Holder. 
Executive Order No. 1 of 2006: Government of Liberia Forest Sector Reform.   This Executive Order 
adopts the recommendations and report of the Fo rest Concession Review Committee, promoting 
transparency, benefit sharing and public participati on in forest and natural resource management in 
Liberia. 
An Act creating the Public Procurement and Concessions Commission (8 September 2005).   This Act 
regulates all forms of public procurement and con cessions (including forest concessions), establishes 
the Public Procurement and Concessions Commission,  provides for institutional structures for public 
procurement and concessions, stipulates methods  and procedures for public procurement and 
concessions and for all related purposes.  WT/ACC/LBR/3 
 Page 49 
 
 
  The Community Rights Law with respect to Forest Lands (2009).   This legislation empowers 
communities to fully engage in the sustainable manage ment of the forests of Liberia. First, it defines 
rights and responsibilities of communities to own, ma nage, use and benefit from forest resources 
whether by customary, statutory, or other tenur e systems. Second, it establishes mechanisms to 
promote informed and representative community par ticipation in matters related community forest 
related resources.  Third, it defines the roles and responsibilities of the FDA as the regulatory, 
promoter, and protector of community rights w ith respect to community forest resources. 
In addition to these national legislation, Liberia is party to several regional and international treaties 
including: 
− African Convention on the Conservation of Nature and Natural Resources (1968); 
− Convention on International Trade in Endange red Species of Wild Fauna and Flora (CITES, 
1973);  
− International Tropical Timber Agreement (I TTA, 1983). Revised Agreement (ITTA, 1994);  
− Convention on Biological Diversity (CBD, 1992);  
− Cartegena Biosafety Protocol (2000);  
− United Nations Framework Convention on Climate Change (UNFCCC, 1992);  
− Kyoto protocol (1997); and 
− United Nations Convention to Comb at Desertification (UNCCD, 1994). 
Requirements for export and import of forest products  
FDA Regulation No. 108-07 on Chain of Custody requir es that exporters or importers of logs, timber 
or wood products, register with FDA annually.  Fo r any exports, the exporter is supposed to ensure 
that logs, timber and wood products have been entered into the Chain of Custody system.  In turn, the 
latter indicates that all stumpage fees, land rental fees and forest product fees (including export fees) 
have been paid.  
Fees and other charges for export of forests products 
FDA Regulation No. 107-07 on Forest Fees requires that  any exporter of forest products in Liberia 
must hold a timber export licence, issued by the F DA.  To obtain the licence, the exporter has to pay 
to the government a fee of US$100.  The licence is valid for one shipment of forest products. 
Exporters of logs have to pay a log export fee as sp ecified by the FDA Regulation 107-07.  This fee is 
structured in three rates:  10 per cent of the ma rket price for prime Class A species, 5 per cent of the 
market price for Class B, and 2.5 per cent of the market price for low-value Class C varieties. Exporters of wood products have  to pay a wood export fee as specified by the FDA Regulation 
No. 107-07.  The fee is structured in three rates of :  5 per cent of the contract price (FOB) for prime 
Class A species; 2.5 per cent of the contract price (FOB) for Class B; and 1.5 per cent for low-value 
Class C varieties. 
The stumpage fee is similar to the log export fee. The rates are:  10 per cent of the market price for 
prime Class A species, 5 per cent of the market price for Class B, and 2.5 per cent of the market price 
for low-value Class C varieties.  Other charges include  a land rental fee of US$1.25 per hectare, along 
with a contract administration fee of US$1,000 per year.  Also, each holder of a Forest Management 
contract or Timber Sales Contract has to pay the government an annual coupe inspection fee of 
US$50 per square kilometre block of the area subject to the contract.  Finally, there is also a way bill 
fee, which is paid by all the persons seeking to tr ansport products within the FDA's Chain of Custody 
System.  The fee is US$150 for each book of ten waybills.  WT/ACC/LBR/3 
Page 50  
 
  Chain of Custody System  
The Chain of Custody System was established by the FDA Regulation No. 108-07 (of 2007), one of 
the regulations implementing the National Forestry Reform Law of 2006.  The Chain of Custody is 
the chain of custodianship for the logs, timber and wood products through harvesting, transport, 
interim storage, processing, distribution and e xport and encompasses changes in state including 
changes resulting from cutting, processing, splitting or  sorting.  It includes the procedures and 
mechanisms used to track and m onitor the Chain Custody.  The Chain of Custody System operations 
are currently being undertaken by the SGS. All expo rters and importers of logs, timber and any forest 
products are supposed to ensure that information about their export or import products have been 
entered into the System.  The purpose of the Chain of Custody System is  to ensure tran sparency in the 
forest sector operations.  Specifically it ensures that:  
− illegal logs, timber and wood products are id entified and do not enter the Custody chain; 
− all holders of forest resource licenses are co mpliant with laws and regulations governing 
block maps, annual yield limits a nd chain of custody requirements; 
− all forest fees are accurately assessed and timel y remitted to the appropriate authorities; and 
− the legal origin for all logs and timber originating from Liberia, among others. 
International Extractive Industries Transparency Initiative (EITI)   
The forestry sector is one of the extractive i ndustries implementing the Government's policy of 
accountable and transparent resource governance th rough the EITI criteria and principles.   
Acceptance of the EITI Criteria and Principles and an expressed commitment to comply with all EITI 
obligations is a standard, non-nego tiable condition to the award of any contract or concession to 
extractive companies including lo gging companies to operate in Liberia.  In addition production 
sharing agreement or any concession or licence has a standard provision rega rding the obligation of 
the concessionaire/licence to disclose and accept the publication of all payments made to the 
Government or to any other person or entity.  
Logging companies, operating in Liberia (among ot her extractive companies are obliged and required 
to disclose, fully, timely and in the manner required by the EITI Criteria and Principles, all payments 
made to every agency and level of the Government of Liberia, or to any other person or entity.  
The Ministry of Finance, Ministry of Lands, Mines and Energy and the Forestry Development Authority (FDA), among other agencies of Government are required to disclose, fully, timely, and in 
the manner required by the EITI Criteria and Principles, all revenues received from every extractive 
company in Liberia.  
Suspension of tariff on forestry equipment  
Suspension of tariff on forestry equipment was im plemented by the Executive Order No. 13, and was 
later extended by Executive Order No. 17 of January 2009
29. The purpose of suspension of this tariff 
is to stimulate activities in the forestry sector after years of war; and to provide incentives by 
encouraging private sector investment in the procurement of essential forestry equipment.  
Incentives in the Economic Stimulus Taxation Act of 2009  
Under the new legislation which modifies the Re venue Code of 2000, manufacturing investments 
including those in wood processing would be eligib le for special tax incentives if they exceed a 
minimum value of US$1 million.  This tax incentiv e will include a deduction of 30 per cent of the 
purchase price of equipment and machinery used in the activity in the year a qualifying asset is place 
                                                      
29 Executive Order No. 17. Extension of Executive Order No. 13, Suspending Tariff on Road 
Construction Equipment, Forestry Equipment, agricultural Equipment and Agricultural Seeds.  WT/ACC/LBR/3 
 Page 51 
 
 
  in service.  In addition, if the investment capital in manufacturing in this sector exceeds 
US$20 million, the processing enterprise will furt her be entitled to additional tax incentives. 
- Policies in the Rubber Sector  
Rubber is an important tree crop export commodity for Liberia, accounting for about 90 per cent of 
the country's total exports.  Since the country si gned its first concession agreement with Firestone 
Company in 1926, the commodity has been one of the pillars of exports for the country. 
Its importance particularly increased during the civil war, with the sector accounting for about 22 per cent of Liberia's total GDP and 90 per cent of  its total exports.  The rubber sub-sector employs 
approximately 18,500 workers on commercial farms.  Most of the rubber trees are old, and there is a replanting programme currently on going to replace th e old trees.  The old trees being cleared are then 
used to produce wood chips for bio-fuel, initially fo r export as well as for use as chips for electricity 
generation for the local market.  
The sector is governed by the Rubber Indus try Rehabilitation and De velopment Fund Act. 
The Ministry of Agriculture is the renewable resource development agency for the rubber-tree 
resources.  The sector is dominated by a few well-esta blished industrial operators as well as by a large 
number of smallholders.  Firestone's  Harbel plantation started operati ng in 1935 (at 35,000 ha it is the 
world's largest contiguous industrial rubber planta tion).  Five other industrial plantations were 
established across the country in the 1950s and 19 60s.  During and after the Second World War, 
Firestone initiated an out-grower scheme, leading to Liberian-owned rubber sector.  In 2006, total 
exports reached 100,000 tons of which two-thirds  was block rubber and one-third liquid latex.  
Firestone alone was responsible for over 60 per cent of total exports.  
Rubber exports in Liberia consist of block or liquid rubber (latex). The rubber industry has 
increasingly been depleted by illicit tapping, l eading to losses in employment and government 
revenue, all contributing to decline in the industry.  To curb this decline in the industry, the Executive 
Order No. 16 on Moratorium on the Exportation of Unprocessed
30 Natural Rubber of 2008 banned 
exportation of unprocessed natural rubber from Liberia.   The same order also prohibited transporting 
or moving unprocessed natural rubber outside of r ubber plantations between the hours of 8:00 p.m. 
and 6:00 a.m.  These measures will remain in place until appropriate policies and frameworks can be 
put in place to improve the situation of the rubber industry in the longer term in order to ensure 
redevelopment, new development, increased produc tion, increased job opportunities and increased 
revenue to government. 
Extraction (use) of all renewal resources in Liberia is  subject to a tax on income.  For rubber, this tax 
rate as presented in the Economic Stimulus Ac t of 2009 (and all other renewable resources except 
rice) is 25 per cent, while for rice it is 15 per cent) .  Investments in such resources sectors are also 
subject to surface rent and royalties, royalty for carbon credits and fees payable under non-tax laws. 
V. TRADE-RELATED INTELLECTUAL PROPERTY REGIME 
1. General 
(a) Intellectual property policy Liberia is a member of the World Intellectual Pr operty Organization (WIPO) and a contracting party 
to international conventions and treaties on the protec tion of intellectual and industrial property rights, 
                                                     
 
30 Raw rubber is defined as the raw material tapped from rubber trees, not having gone through any 
processing to change its physical or chemical composition;  or natural latex, coagulum, cup lump, tree lace, bark 
scrap, ground scrap and any other form of unprocessed or  processed natural rubber (including concentrated latex 
and dry rubber produced or derived from the latex produced by rubber trees. WT/ACC/LBR/3 
Page 52  
 
  including the Berne, Paris, Lisbon, Vienna and Wa shington conventions and the Madrid Agreement. 
Liberia's intellectual policy regime is not up to cu rrent international standards due to historical 
conditions and capacity constraints.  It is hoped that through a programme of technical support by 
WIPO and other agencies, the legal regime for prot ection and enforcement of intellectual property in 
Liberia will be upgraded to meet the standards of  the WTO Agreement on Trade Related Aspects of 
Intellectual Property Rights (TRIPS).  Recently th e GOL has been actively engaged in seeking a 
programme with international part ners to develop and improve the intellectual property regime in 
Liberia. There are two different agencies that  deal with intellectual property matters.  
The President announced in her annual speech on 25 January 2010 that having fulfilled the 
pre-conditions set by the World Intellectual Prope rty Organization (WIPO) for endorsing Liberia's 
Intellectual Property Development Plan (IPDP), Li beria became eligible, a nd deposited with WIPO 
the Instrument of Accession to the Madrid Protocol for the International Registration of Marks.  It is 
also a party to the Africa Regional Intellectual Pr operty Organization (ARIPO) protocol, which offers 
protection and promotion of intellectual property within the African region. 
(b) Responsible agencies for policy formulation and implementation 
The Liberia Copyright Office was created by an Act of  the National Legislature on 30 July 1997.  It is 
mandated to ensure the representation and defenc e of the economic, moral and other legitimate 
interest of authors of literary, dramatic, musical, a nd artistic works who are nationals and residents of 
Liberia or their successors in title within the count ry.  The agency also creates conducive condition for 
the recognition and registration of works produced  and published by actors and creators who are 
citizens or domiciled in Liberia.  In its current  work-plan, the Copyri ght Office is seeking to 
encourage the establishment of the various nationa l collective societies and formulate policies to 
empower the collective societies to enforce the right of authors. The office is also planning activities 
to promote the dissemination of nati onal works in Liberia and abroad. 
The Liberia Industrial Property System was creat ed by an Act of the National legislature on 
20 March 2003.  The Agency is responsible for the control, registration and regulation of patents, 
trademarks, names, industrial designs, and other relate d properties.  It is housed in the Ministry of 
Finance.  In 2008, efforts were made to tran sfer the Industrial Property office back which was 
previously handled by the Ministry of Foreign Af fairs.  Negotiations were held with the World 
Intellectual Property Organization (WIPO) which resu lted in the drawing of a two-year development 
plan for the Liberia Intellectual Property System. 
(c) Membership of international intellectua l property conventions and of regional or 
bilateral agreements 
Table 12:  Liberia's Status re WIPO Treaties
 
Treaty Status Entry into Force 
Berne Convention In Force 8 March 1989 
Madrid Agreement (Marks) In  Force 25 December 1995 
Madrid Protocol In Force 11 December 2009 
Paris Convention In Force 27 August 1994 
Patent Cooperation Treaty In Force 27 August 1994 
Patent Law Treaty Signature   
Phonograms Convention In Force 16 December 2005 
Washington Treaty Signature 26 May 1989 
WIPO Convention In Force 8 March 1989 
  WT/ACC/LBR/3 
 Page 53 
 
 
  (d) Application of national and m.f. n. treatment to foreign nationals 
There is no distinction between nati onals and foreigners in the intell ectual property regime of Liberia; 
and neither is there discrimination among foreign na tionals in Liberia's intellectual property laws.  
(e) Fees and taxes 
Information on fees and taxes is not available.  It is expected that when the legislative regime is 
updated the fees for registration of patents and tradem arks may change since they are currently quite 
out-dated.  
2. Substantive standards of protection, incl uding procedures for the acquisition and 
maintenance of intellectual property rights 
(a) Copyright and related rights, including ri ghts of performers, producers of phonograms 
and broadcasting organizations 
The Act adopting the New Copyright Law of Liberia, approved on 13 July 1997, provides the legal 
and administrative framework for protection of inte llectual property rights.  The Copyright Office was 
established in 1997 and although it is apparently su pposed to be an autonomous office, it operates 
under the auspices of the Ministry of Commerce and Industry.  The 1997 law provided for a 
Copyright Commission (quasi-judicial body) to h ear cases regarding copyright infringement but the 
body has never met.  But the Commission's decision is subject to appeal and it has no powers of enforcement.  Therefore, copyright cases are referre d to the Ministry of Justice.  Most cases of 
copyright infringement are heard as civil suits.  
The law provides for the protection of copyright in a comprehensive manner (books, pamphlets, 
computer programmes and other writings: dramatic a nd dramatic-musical works; lectures, addresses, 
sermons; performing rights; audio-visual works; wo rks of applied art; works inspired by expressions 
of folklore, etc.); but it does not contain provisions on the protection of digital works.  The period of exclusive copyright for literary, dramatic or musical wo rks or engravings is the life of the author plus 
50 years.  The term for photographs, records and works of public undertakings is also 50 years from the date of production; and the term of copy right in government works is 70 years from the 
publication date.  
Holders of intellectual property rights have access to judicial redress but enforcement is minimal. 
Infringement of intellectual and industrial prope rty rights is prevalent.  Movies and music are 
duplicated and sold commercially.  Counterfeit drugs, apparel, cosmetics, and computer software and 
hardware are sold openly.  Broadc asters do not tend to pay royalties for use of protected material. 
Most cases of copyright infringement are heard as civil suits.  Nevertheless, of 10 January 2008, all 
imports of intellectual property must be so identif ied on the import permit (rather than being identified 
as "general merchandise").  All businesses dealing in  intellectual property must reflect that on their 
business registration form. 
(b) Trademarks, including service marks 
The Industrial Property Act of Liberia (Approved 20  March 2003) addresses protection for patents, 
industrial designs, marks, collective marks, trade na mes, and "acts of unfair competition."  WIPO has 
reviewed the law and made recommendations for cha nges to meet internationally accepted standards. 
There are no recent regulations emanating from the legislation.  It also does not address fines for breaches of intellectual property rights.  The main ac tivity of the Liberia Industrial Property Office 
(LIPO) which is housed in the Ministry of Finance is the registration of trademarks.  There are very 
few applications regarding patents and the LI PO does not have the capacity to assess patent 
applications. WT/ACC/LBR/3 
Page 54  
 
  Under the Act, a "mark" is defined as: 
− "any visible sign capable of distinguishing the goods (trademark) or services (service mark) 
of an enterprise".  
Registration of a trademark can be done either direc tly to the LIPO or through a lawyer.  Under the 
Act, the registration of a trademark is valid for a period of ten years from the filing date but it can be 
renewed for consecutive periods of ten years.  
(c) Geographical indications, including appellations of origin 
Geographical indications are not addressed by the law.  
(d) Industrial designs 
In the Industrial Property Act of Liberia, an industrial design is defined as any composition of lines or 
colours or any three-dimensional form, whether or not associated with lines or colours provided that 
such composition or form gives a special appearance to  a product of industry or handicraft and can 
serve as a pattern for a product of industry or hand icraft.  The period of registration of an industrial 
design is five years from the filing date of the appli cation for registration.  It  may be renewed for two 
further consecutive five-year periods through the payment of a prescribed fee.  
(e) Patents 
Under the Industrial Property Act, a patent is defi ned as "title granted to protect an invention" which 
is considered as "an idea of an inventor which perm its in practice the solution to a specific problem in 
the field of technology."  An invention may be or  relate to a product or a process.  However, the 
following are excluded from patent protection: 
− Discoveries, scientific theories and mathematical methods; 
− Schemes, rules or methods for doing business, performing mental acts or playing games; and 
− Methods for the treatment of the human or an imal body by surgery or therapy, as well as 
diagnostic methods practiced on the human or animal body.  
A patent is valid in Liberia for 20 years after the filing date of the application for the patent and is 
conditional on an annual fee being paid. 
(f) Plant variety protection 
The legislation does not provide for the protection of plant varieties. 
(g) Layout designs of integrated circuits 
There is no provision in domestic law on integrated circuits. 
(h) Requirements on undisclosed information,  including trade secrets and test data 
These matters are not addressed by the laws in Liberia.  
(i) Other categories of intellectual property 
There are no other categories of intellectual property addressed by the laws of Liberia.   WT/ACC/LBR/3 
 Page 55 
 
 
  4. Enforcement 
(a) Civil judicial procedures and remedies 
The two Acts dealing with intell ectual property rights in Liberia provide for judicial redress but 
enforcement is very difficult.  
(b) Provisional measures 
There are no provisional measures  
(c) Administrative procedures and remedies 
There are currently no functional administrative pro cedures and remedies.  In the event of a complaint 
regarding infringement by the holder of an intellectual property right, the issue is brought to the attention of the Industrial Property Office or the Copy right Office.  The matter is then usually referred 
to the courts.  
(d) Special border measures 
Due to the lack of human and financial resources it is not possible to implement borders measures 
regarding the protection of intellection property.  Bu t since 10 January 2008, all imports of intellectual 
property must be so identified on the import pe rmit (rather than being identified as "general 
merchandise"). 
(e) Criminal procedures 
There is provision for legal redress through the Cour ts in the event of infringement of intellectual 
property. 
5. Laws, decrees, regulations and other legal acts relating to the above 
The Industrial Property Act of Liberia (Approved 20 March 2003). 
The Act adopting the New Copyright Law of Liberia, approved on 13 July 1997. 
6. Statistical data on applications for and gr ants of intellectual property rights, as well as 
any statistical data on their enforcement 
No statistical data are available. 
VI. TRADE-RELATED SERVICES REGIME 
1. General Since it is mainly a rural economy with natural resources-based production, Liberia's services sector 
and regulatory regimes are under-developed.  The long civil war also prevented the evolution of new 
services firms except perhaps in th e distribution sector.  Since the political and economic situation 
stabilized, there has been significant growth in th e financial services and telecommunications sectors 
but most other areas of services activity will need s ubstantial new investment to get to the level in 
neighbouring countries in West Africa.  Many servi ces activities are conducted in the informal sector 
and are hence unrecorded.  According to Balance of  Payments data from the Central Bank, Liberia's 
exports of services amounted to approximately US$562 million in 2008.  WT/ACC/LBR/3 
Page 56  
 
  - Transportation
 
The Ministry of Transport was created on 25 August 1987 by an Act of the National Legislature to 
perform the following functions/mandates: 
− Develop policies; 
− Administer and implement transportation and insurance laws of Liberia; 
− Plan and execute policies related to all modes and forms of transport; 
− Establish and implement the overall tr ansportation policy of Liberia; 
− Develop plans and strategies for the movement of  goods and people in and out of Liberia and 
establish rules and procedures to govern such movements; and 
− Enforce standards for transport services or priv ate and common carriers of whatever nature. 
The Ministry of Transport has overall regulatory juri sdiction for the transport sector in Liberia (air, 
road, rail, sea) but it is seriously under-resourced in  terms of financial, phy sical and human capacity. 
It currently functions mainly as a collector of re venues from registration and licensing of vehicles and 
other transport permits.  The Division of Land/Rail Transport issues Eligibility Certificates to entities 
that meet MOT requirements to engage in transport or transport-related businesses.  In 2009, the vast 
majority of eligibility certificates were for automo tive parts dealerships (72), followed by used car 
dealerships (17) and motorcycle dealerships (11) out of a total of 129 certificates. 
In 2009, the Liberia Domestic Airports Agency, a semi-autonomous entity was detached from the 
ministry and combined with the Roberts International Airport to operate under the umbrella of the newly established Liberia Airports Authority (LAA).  
The instability and difficulties of war resulted in  little or no record-keeping so the Transport 
authorities have very limited information on the size of  the commercial transport sector in Liberia.  In 
recent years, a few firms have been registered as transport companies but there is no detail on them. 
Information on the size of the road transport fleet is also lacking but the Insurance section of the 
ministry estimates that there are about 70,000 or 94,000 private vehicles in Liberia.  In 2008, the MOT introduced a programme to identify commercia l vehicles through their service name and some 
owners have started to comply. 
A National Transport Policy and Strategy was rece ntly developed and approved by the GOL in 
November 2009.  It is an ambitious, forward-looking  agenda that will depend on significant resources 
for its implementation.  There is potential for the development of a limited amount of rail services in the regions in which mining operations are being restarted.  
- Maritime Sector
 
The Bureau of Maritime Affairs (BMA) is responsib le for administering Liberia's maritime program. 
As Liberia re-engages with the international community, the programme continues to make 
impressive gains in vessel registration and tonnage.  At  the end of 2009, the Liberian registered fleet 
stood at 3,140 vessels, weighing 101 million gross tons, compared to 2,926 vessels and 52.6 million 
net tons as of 31 December 2008. The GOL recently granted ten-year extension on the contract to 
allow the Liberia International Shipping and Corpor ate Registry (LISCR), the Agent of the Liberian 
Registry, to continue to work in expanding the operations of, and benef its from, the maritime 
program. 
For 2010, the BMA looks to fully engrain maritime safety, security and navigation; to properly 
regulate all commercial activities within Liberia's terr itorial waters; and, in collaboration with other 
agencies of Government, to ensure that illegal activities on national waterways are minimized, and 
eventually eradicated.  Training and development of capacity will be the hallmarks of how the BMA  WT/ACC/LBR/3 
 Page 57 
 
 
  effectively "builds a maritime nation." After a 15-y ear hiatus, the Liberia Marine Training Institute, 
reopened in Marshall, Margibi County.  
As the Designated Authority for the International Ship and Port Facility Security (ISPS) Code, the 
BMA implemented several new security measures at the Freeport of Monrovia.  These changes, 
which ensured that the Freeport now meets intern ational security standards for ports engaged in 
international trade, mean that Liberia is officia lly off the US Coast Guard blacklist.  The blacklist 
imposed in 2004 required vessels leaving Liberian  ports to undergo additional costly and time-
consuming security screenings prior to entering the territorial waters of ISPS-compliant ports 
worldwide.  The BMA also inaugurated the Monrovia Regional Maritime Rescue Coordination 
Centre, which serves as the Communications Centre fo r five West African nations, namely, Liberia, 
Guinea, Sierra Leone, Ghana and Côte d'Ivoire.  Li beria was selected, in October 2000, to host this 
sub-regional centre and delivered on this responsibility in March 2009. 
National Port Authority 
Under new management, the National Port Authorit y (NPA) issued for the first time a mission and 
vision statement to ensure that employees have  a clear and uniformed road map to follow. 
A high-level strategic plan, including a SWOT anal ysis of critical success factors and high-level 
action, was developed and approved by the Bo ard of Directors. NPA revenues increased by 
43 per cent to US$1.996 million while expenses d ecreased by 22 per cent, or US$4.2 million.  
This performance was based upon a 4.26 per cent in vessel traffic and in containers operation by 
0.03 per cent.  The NPA trained 336 staff in various courses to enhance the capacity of the Corporation and to improve their morale and motiv ation.  Sound financial management enabled the 
Corporation to assume full management of its fina ncial operation, bringing to an end the valuable 
assistance provided under the GEMAP Program.  The Freeport of Monrovia became ISPS compliant for the first since the creation of the Intern ational Ship Port Security Code in 2004. 
Under the Liberian Port Sector Reform Program , the NPA is poised to enter a public-private 
partnership agreement which will entail investment of more than US$100 million by the private sector 
to modernize the Freeport of Monrovia, including co nstruction of a new margin al wharf, construction 
of terminals and facilities and the provision of adequate equipment and operational expertise.  
This will result in increased efficiency in port ope rations and reduced cost to shippers with positive 
impact on commodity prices in the local market.  Although the operations of other activities at the 
Port will continue to be managed by the NP A, the concession agreement will enable the NPA 
management to focus attention on addressing the urgent needs at ot her ports, such as dredging and 
wreck removal. This will ensure that those por ts will open up and facilitate economic activity, 
including logging, mining and agriculture, in the other three counties – Grand Bassa, Maryland and Sinoe. 
Table 13:  Traffic Volume at the Port of Monrovia
 
 2007 2008 
No. of Vessels 353 236 
No. of TEU's – Import 24,274.50 23,118.00 
No. of TEU's – Export 26,580.00 24,207.00 
Total Metric Tons Handled 1,254,735.90 1,476,247.30 
Of which imports 1,016,195.30 1,232,307.00 
Of which exports 238,540.60 243,940.30 
Source:  National Ports Authority, Liberia       WT/ACC/LBR/3 
Page 58  
 
  - Telecommunications
 
The vision of the Government of Liberia for the IC T and Telecommunications sector is to create the 
enabling environment that will ac celerate the development and availability of telecommunications 
services in Liberia.  Its philosophy is to ensure th at services are provided in an open, market-oriented 
environment with private sector-led investment as  a focus to develop the sector in response to 
consumer demand and public needs.  From the days  when the incumbent enjoyed exclusivity rights to 
provide services with no other competitor allowed to  the era of competition, Liberia continues to 
strive to create a liberalized environment that allo ws market forces and technology to determine the 
most effective means to provide services to end users.  The GOL has ac tively liberalized the 
telecommunications market and is encouraging the pa rticipation of the private sector at all levels, 
except in the fixed telephone line service that  is under temporary moratorium until 2011. 
The Ministry of Post and Telecommunications, th rough the Department of Telecommunications and 
Technical Services, is responsible for formula ting broad ICT and Telecommunications policy and 
strategies for Liberia.  These policies and strate gies are required to ensure that basic ICT and 
telecommunication services are available, reliable and affordable in all parts of the country.  
It promotes the harmonization of ICT and tel ecommunication policies and regulatory frameworks 
within sub-regional, regional, continental a nd global bodies.  These bodies include ECOWAS, 
African Union, (AU), and the International Telecommunication Union, (ITU), among others. 
The Ministry also ensures that targets set by these bodies to achieve certain goals regarding the 
advancement of communications services become a r eality in Liberia.  Essentially, its programmes 
and activities are geared towards translating resolu tions and relevant concepts into implementable 
policy framework in line with global trends to facilitate national economic  development and to 
promote programmes that support basic social services.  Primarily the Ministry's programmes are based on the following objectives:  
− Promote competition and liberalization; 
− Promote the acceleration of basic communications services to un-served and underserved 
areas and to ensure that all peoples and regions of Liberia are connected; 
− Induce investment in the sector by creating a policy friendly environment; 
− Establish the framework to integrate GOL o ffices/systems through e-government nationwide; 
− Encourage the development of informati on super-highway (Internet Backbone) for 
globalization and convergence; 
− Accelerate the creation and management of the domain name for Liberia; 
− Develop Policy of general application to the ICT and telecommunications sector; and 
− Encourage and promote the provision of hi gh quality and affordable telecommunications 
services; and to take such other actions as are required to co-ordinate Government policies 
and programmes affecting the ICT and telecommunications sector generally.  
The Department is headed by the Deputy Minister for Technical Services and assisted by the Assistant 
Minister for Telecommunications, both of whom ar e appointed by the President based on the advice 
and consent of the Senate. 
Action Plan 
The Ministry has identified the following work plan to  further develop the sector: 
− Mobilize resources for the construction of fibre optic network for Monrov ia and its environs 
to help provide the necessary broadband and facilities to enhance communications services; 
− Convene meeting of Ministers in charge of  ICT and Telecommunication in the Mano River 
Union countries to validate a proposal drafted by  the Ministry soliciting support from ITU to  WT/ACC/LBR/3 
 Page 59 
 
 
  conduct feasibility study on determining a common access point the marine cable as a point of 
connectivity for the three countries (Guinea, Sierra Leone and Liberia); 
− Provide support public-private partnership to connect Liberi a to the appropriate undersea 
cable as a point of connectivity to the rest of the world; 
− Set up Universal Access Fund and Governi ng Board in line with Universal Access 
programme to accelerate services into rural communities; 
− Set up a Secretariat comprising Stakeholders to implement National ICT Programmes; 
− Establish the Global Digital Solidarity fund as requested and sanctioned by ECOWAS for its 
membership to contribute 1 per cent of th eir total revenue from the telecommunication 
sub-sector of their respective economies to th e ECOWAS Global Digital Solidarity Fund that 
will be used to provide solutions to re duce access gap among member countries; and 
− Set up Working Group to work out details w ith ECOWAS and other missions from ITU on 
Implementing the ECOWAS Supplementary Acts to pave way to ensure national formalities 
to accede to the ECOWAS ICT Act. 
Independent regulator 
The Liberia Telecommunications Authority ( LTA), which seeks to become the premier 
telecommunications regulator in the region, is charged with the responsibility to regulate the 
telecommunications industry in Liberia.  Introduced  as an interim body in 2004 by the transitional 
legislature during the Bryant Administration that was ushered in by the Accra Peace Accord, the LTA 
was finally created as a permanent regulatory body by the Telecommunications Act of 2007.  It has 
five Commissioners one of whom is the Chairman .  Under the Telecommunications Act of 2007, the 
LTA is obliged to undertake the frequency harm onization and licence standardization processes with 
respect to service providers that were issued "pri or licenses" before the advent of the new regulatory 
regime.  Thus, a comprehensive licensing framework  for the companies – aimed at the harmonization 
of frequencies and standardization of licenses of  all GSM networks – has been developed. 
As a result, the Government received US$12.5 million for the calendar year 2009 as licensing fees 
from the GSM companies.  The LTA, meanwhile, has initiated and completed 90 per cent of the 
standardization of non-GSM service providers (inc luding Internet services) licenses; and received 42 
applications for licenses to provide various fo rms of telecommunications services, ranging from 
community radio stations to Next Generation services.  Sixty per cent of these were processed in 2009.  The LTA also assigned CDMA frequency for the smooth operations of Libtelco, the National 
Operator, and prepared a new National Numbering Pl an for the country resulting in the assignment of 
specific numbers to all four GSM operators and Li btelco.  These are to become operational in 2010. 
As a major regulatory and revenue earning strate gy, the LTA, during 2009, initiated the process of 
acquiring a Spectrum Monitoring System.  This system  is capable of identifying unlicensed and illegal 
frequency users by use of its directional finding capability.  It is a reliable solution for spectrum 
monitoring and promises to substantially incr ease LTA/GOL revenue generation capabilities relative 
to the sector, while boosting LTA's efficient spectrum management capacity. 
The LTA published Interconnection Regulations that are applicable to all licensed service providers 
and embarked on initiatives regarding the provision of  Universal Access Servi ces, a major deliverable 
under Liberia's Poverty Reduction Strategy.  Meanwh ile, the LTA has collaborated with the Ministry 
of Posts and Telecommunications (MP&T), the Mini stry of Planning and Economic Affairs (MPEA), 
and other relevant stakeholders to develop an d produce a best practices-based Information and 
Communications Technology (ICT) policy for the country's telecommunications sector.  The LTA and MP&T also held pertinent policy consultati ons on various policy issues that will impact, among 
others:  future licensing conditions; the elaboration of  Libtelco's status as a national operator; and the 
landing of a submarine fibre optic broadband cable fac ility in Liberia.  When realized, the submarine 
cable will facilitate world class connectivity fo r the country and open up vast avenues and WT/ACC/LBR/3 
Page 60  
 
  opportunities for the country's telecoms industry and for the end-users of services which the 
broadband communications infrastructure will offer.  In order to ensure greater coordination and 
better understanding regarding the re gulatory nature of the LTA, a mechanism was put in place to 
foster collaboration between the Authority and various governmental entities.  An 
information/education campaign geared towards cr eating a much better understanding of the functions 
of the LTA and its relationship with ot her stakeholders was also initiated. 
Despite some significant achievements in the harm onization of frequencies, there is still scope for 
efficient management of the country 's finite spectrum, esp ecially in regard to the 3.5 GHz band.  The 
LTA is working on steps toward achieving much more  efficient usage of this bandwidth.  Moreover, 
the LTA still lacks the capital funds to construct its  own office building and/acquire the technological 
operational capabilities it certainly needs to become a much more effective sector regulator.  The 
strategic way to do this is to have the LTA's sp ectrum fees obtained from the sector reserved solely 
for the regulator's use. 
The Liberia Telecommunications Authority (LTA),  the body responsible for implementing sector 
policy, is required to facilitate fair and effectiv e competition in all market segments, except the fixed 
line telephone service that is under moratorium.  Be side the fixed telephone line service which will 
witness full liberalization by 2011, the internet ma rket, the mobile market and other services in the 
telecommunication and ICT environment are fully liberalized.  And supportive of the vision to close the current access gap in communications services nationwide is the policy to make universal access to telecommunications services a top priority under the universal access program. 
While the LTA is charged with the responsibility to issue licenses to all telecommunications operators 
in consultation with the Ministry and to assign civilian and non-civilian frequencies as well as to 
implement national numbering plan, it is required to also ensure fair and equitable competitive 
practices in the sector.  LTA is therefore exp ected to issue regulations on interconnection, 
co-locations, general tariff and all other issues that  are critical and key to the success of a functional 
and predictable sector.  
Mobile telephony 
The mobile market in Liberia is fully liberalized and highly competitive.  The average price of a local 
mobile call is US$0.15 cents per minute and interna tional calls to North America and Europe cost on 
average about US$0.25 cents per minute.  In 2009, there were four GSM operators and one CDMA 
licensed operator; and at the end of 2009 a Wimax operator was expected to start operations as West 
Africa Telecoms (WAT).  The LTA is faced with th e task to standardize the available licence and to 
redeem the fair value of the licence which remains la rgely underpaid.  Besides, current statistics about 
the mobile sector including the total number of subs cribers for each of the co mpanies, volume of calls 
(international calls originating from and coming to Libe ria, local calls across different networks, calls 
within a given network) remains l ess satisfactory as there has been no other independent authority to 
certify verify the information at any given time.  These are some of the basic tasks facing the LTA.  
Lonestar commenced service in Liberia in 2000.  It had exclusivity rights over the GSM bandwidth 
until 2003.  It was a subsidiary of Investcom, a holding company based in  Beirut, Lebanon, until 
South Africa's MTN took over it in 2006.  It is th e dominant mobile operator, with 50-60 per cent 
market share.  Information on this comp any can be found on:  www.lonestarcell.com. 
Cellcom is one of the GSM companies in Liberia. It  is owned by a partnershi p consisting of American 
and Israeli investors. It also has a considerable share of the market. Information on this company can 
be found on:  www.cellcomgsm.com. 
Comium is owned by the Dalloul Group of Lebano n.  The Dalloul Group also owns a GSM operator 
in Lebanon through Libancell.   (See www.comium.lr).  WT/ACC/LBR/3 
 Page 61 
 
 
  Libercell is the network name of Atlantic Wireless (Liberia) Inc. and is owned by Lebanese investors. 
Saudi-owned HiTs Telecom bought a 45 per cent stake in Libercell, in April 2007.  (See:  www.libercell.com.info). 
The Liberia Telecommunications Corporation (Libte lco) overcame the problems that led to its 
dormancy.  Today, the state-owned company is r esuscitated under a new management. It has deployed 
new technology, replacing the obsolete ones.  LTC , designated as National Operator, will provide 
fixed wireless phone, wireless Internet and fax services to the public.  The fixed wireless phone 
services are available for use as desk phone in pub lic offices, at homes as well as in various business 
enterprises and other entities.  Libtelco re-ent ry into the communication sector followed some 
uncertainty about the future of this once viable en tity given the impact of the 14 years civil war that 
left its equipment looted, vandalized or mi smanaged. It is using the CDMA platform. 
(See:  www.libtelco.com). 
In 2007 the Telecommunications Act was passed wh ich enabled the reconstitution of the Liberia 
Telecommunications Corporation (LTC), which quickly  took action to restore facilities that had been 
looted and vandalized during the civil war.  The Corporation also went a long way toward resolving 
inherited legal issues related to the huge arr ears due private entities for the supply of unused 
equipment and services provided in prior years.  As  a result of success in these efforts, the Liberia 
Telecommunications Corporation (Libtelco) la unched its services on 1 May 2009, to provide 
affordable and secure communication services such as fi xed wireless, push-to talk, fax, Internet and 
CDMA mobile under an arrangement with the supplier ZTE of China.  With a government subsidy of 
US$2.3 million in 2009-10, LIBTELCO expected to meet its 5,000 lines target by the end of 2009. 
The Corporation expects also, during 2010, to extend  its service, which at present covers only Greater 
Monrovia up to Firestone in Margibi County, to Grand Bassa, Bong, Nimba, Lofa and Grand Gedeh. 
The market for Internet access service s was also liberalized and there were seven Internet Services 
Providers (ISPs) in 2009. Two of the mobile phone operators also provide Internet access. However, 
connectivity is very limited in Liberia due to the high cost and low band width.  
- Financial Services
 
- Banking  
The banking industry is Liberia is now rebounding from  the instability and insecurity of many years 
of civil war.  In April 2010, the banking sector  was comprised of the following commercial banks: 
− Ecobank Liberia Ltd.; 
− First International Bank Liberia Ltd.; 
− Global Bank Liberia Ltd.; 
− International Bank Liberia Ltd.; 
− Liberian Bank for Development and Investment; 
− United Bank for Africa Liberia; 
− GT Bank (Guarantee Trust Bank) Liberia Ltd; 
− Access Bank (Micro-finance Bank); and 
− PHB Bank Liberia Ltd. 
In 2010, there were nine commercial banks opera ting in the country, up from six a year ago.  
Guaranty Trust Bank Liberia Ltd. and Access Bank Liberia Ltd. were granted licenses to operate in 
Liberia, the latter to focus on microfinance in ke eping with the Central Bank of Liberia's (CBL) 
objective of increasing access to financial service s by economically active low-income earners. The 
number of active borrowers benefiting from these microfinance services increased in 2009 to 34,636 
at end-November, up from 32,286 in 2008 and 15,825 in 2007.  This increase was driven largely by WT/ACC/LBR/3 
Page 62  
 
  the rise in lending to females who account for 86.8 pe r cent of the total microf inance borrowers.  It is 
also noteworthy that there is a 100 per cent r ecovery rate from these low-income microfinance 
borrowers through Access Bank, which contrasts shar ply with the industry average to higher-income 
borrowers, at 89 per cent recovery rate.  
The CBL has developed a National Microfinance Policy , which will be launched in 2010, to add more 
impetus to microfinance activities.  In addition, the CBL, mindful of the importance of financing for 
the growth of the agricultural sector, has issued a provisional licence to Afr iland First Asian American 
Bank Liberia Limited, which is committed to directing a significant portion of its resources to the agricultural sector.  The CBL see s the possibility of using cred it unions as a direct means of 
promoting rural and agricultural financing.  Accord ingly, it will work with other stakeholders to 
restructure and strengthen the credit union apex bo dy, the Liberia Credit Union National Association 
(LCUNA), and individual credit unions. 
Total capital of the banking sector increased by 76. 9 per cent, from about L$2.6 billion in 2008 to 
L$4.6 billion in 2009.  This was due largely to the increase in the minimum capital requirement from 
US$2 million to US$6 million at the end of 2008.  The minimum capital requirement was further 
raised to US$8 million at the end of December 2009.   This is the first significant recapitalization of 
commercial banks operating in Liberia.  This policy is aimed at ensuring that the banking sector is 
financially safe and sound, capable of meeting system ic risks and responding to the financing needs of 
the domestic economy.  To support domestic entrepre neurship, the Central Bank is working with the 
banking industry to improve the flow of credit to Liberian entrepreneurs with credible business plans 
on more reasonable terms.  It is interesting to no te that in 2009, bank branch networks increased from 
28 branches to 55, with banking services now being offe red in nine of the 15 counties, up from five 
counties in 2008.  Meanwhile, branch network incr eased from 28 branches in 2008, to 56 branches at 
end-December 2009.  
The banking sector continues to make a significant  contribution to the recovery of the economy.  
Total credit to the private sector as a percentage of nominal GDP increased to 15.5 per cent during 
2009, compared with 13.0 per cent in 2008 and 10.1 per cent in 2007.  Total employment in the 
banking sector increased to 1,121 in 2009, up from 422 in 2005.  Furthermore, in support of economic growth, the Central Bank is putting in place the m echanism for a Treasury-bill (T-bill) market, which 
will not only be an additional monetary policy inst rument for the Central Bank, but will also assist 
GOL in meeting its post-HIPC borrowing needs by creating some needed fiscal space to smooth out 
its expenditure pattern. 
During 2009, the banking sector remained strong as ev ident by the steady growth in key areas of its 
balance sheet.  Shareholders' funds, deposits, loan s and total assets increased by 80.8 per cent, 
32.9 per cent, 43.8 per cent and 33.1 per cent, respec tively.  Also, there were improvements in key 
prudential ratios such as aggregate capital adequacy  ratio (CAR), which was 28.4 per cent during the 
year, compared with 21.9 per cent at end-December 2008.  Total credit to the private sector as a ratio 
of GDP during 2009 was 15.5 per cent compared with 11.6 per cent in 2008 and 9.3 per cent in 2007. 
This shows continued improvement in th e level of financial intermediation. 
Table 14: Balance Sheet of the Banking Sector (L$ thousands)
 
Assets December 2008 November 2009 
Cash 2,520,541 2,588,006 
Balances from CBL placemen ts 3,434,4 77 4,613,559 
Government securities 508,800 475,875 
Other investments 203,776 220,253 
Loans and advances 6,261,781 9,005,398 
Foreign assets 4,364,416 5,342,693 
Other assets 2,209,737 3,708,091  WT/ACC/LBR/3 
 Page 63 
 
 
  Assets December 2008 November 2009 
Total Assets 19,503,528 25,953,875 
Deposits 13,599,308 18,077,624 
Foreign liabilities   
Other liabilities 3,309,061 3,184,353 
Capital and reserves 2,595,159 4,611,895 
Total Liabilities and shareholder funds 19,503,528 25, 953,875 
Source:  Central Bank of Liberia, Annual Report 2009, page 42.  
Commercial Bank Credit 
Total credit to various sectors of the economy  at end-November 2009 was L$9,006.5 million, 
L$2,778.7 million more than the level recorded at end-December 2008 and L$4,755.7 million more 
than the 2007 level.  This shows the level of c ontribution being made by the banking sector to the 
recovery of the economy.  Credit to the economy is  predominantly in US dollars with the US dollar 
component accounting for 92.8 per cent of total cr edit during 2009 while the Liberian-dollar loan 
accounted for 7.2 per cent.  Trade, Hotel and Rest aurant accounted for 31.9 per cent of total loans, 
followed by Transportation, Storage and Communication, 14.4 per cent; Construction, 11.0 per cent; Agriculture, 3.2 per cent and Mining and Quarrying, 0.1 per cent.  The "Other" category comprising 
individuals and other services-related businesses accounted for 37.8 per cent. 
The issue of high non-performing loans remains a major challenge for the banking industry, which 
makes it more important to fast-track the procedur es to establish a commercial court to help solve the 
problem of loan default and rebuild a good cred it culture in the system. In addition to the 
establishment of a fast-track commercial court, the CBL seeks to develop its existing credit reference 
system and will work with the Bankers Association and other interested parties to establish a credit 
reference bureau, which should be run by the private sector. 
- Insurance
 
The insurance industry in Liberia is comprised of domestic companies with a limited capital base.  
In 2007, the gross annual premium intake of the 17  insurance companies in Liberia amounted to only 
L$35 million or US$2.1 million.  All insurance companies purchase rein surance services from 
overseas.  In the local market they  issue insurance policies to client s but cede more than 50 per cent 
out to foreign firms.  There are no foreign insura nce firms at the moment in the Liberian market. 
The regulatory infrastructure for the insurance sect or is rudimentary.  The industry is currently 
governed by the Insurance Law of 7 March 1973 which provides for a Commissioner of Insurance.31 
The law is out-dated and needs to be reformed.  A new bill entitled the Liberia National Insurance Act 
2010 has been drafted and it is expected to be introdu ced in the legislature later this year.  Insurance 
companies are required to file annual reports to  the Commissioner of Insurance who review and 
analyse the performance of the sector.  The Commissioner sets risk limits for the sector and the 
market sets the premiums or insurance rates.  Four per cent of the gross annual premium of the 
insurance industry is payable to the Government of Liberia as a premium tax.  The majority of 
insurance companies provide automo tive insurance while the propert y and life insurance market is 
under-developed.  
The National Insurance Corporation of Liberia was originally set up to insure all government assets 
but it competes with other commercial companies.  It serves as the issuing bureau for ECOWAS Brown Card which provides third party insurance coverage for non-resident vehicles in Liberia 
(foreigners coming to Liberia from other ECOWAS st ates).  While the insurance law requires that 
                                                     
 
31 The Insurance Commissioner's office is currently in the Ministry of Transport but it is believed by 
other departments that this is not the best location.  It reflects the historical circumstance of the insurance sector 
being originally focused sole on the automotive sector.  WT/ACC/LBR/3 
Page 64  
 
  property in Liberia must be insured by domestic comp anies, it is believed that a lot of properties are 
insured overseas due to the high cost locally.  Automotive insurance premiums are based on a 
percentage of the value of a ve hicle and there are about 70,000 vehicles in Liberia.  However, the 
authorities believe that many private cars are not insured and capacity constraints make enforcement 
very difficult.  The high costs of premiums due to the small size of the market and lack of 
consolidation of the auto-insurance industry are the main reasons for this situation.  
- Tourism Services
 
Tourism is the service sector with the greatest potentia l for growth in the medium term in Liberia.  
Due to the civil war, the sector is very basic but since 2007 some new investment in hotels has 
occurred.  The regulatory regime for the tourism sector is under-developed and the Bureau of Tourism 
in the Ministry of Information, Culture and Touris m is seriously under-staffed and lacking in financial 
resources.  Nevertheless there are some basic polic y guidelines for the sector that were published by 
the Bureau.32  All tourism entities operating within Liberia are required by law to register with the 
Bureau of Tourism annually, during the first week of January in order to obtain a permit.  The permit 
constitutes authorization to operate a tourism-related activity in Libe ria.  It is subject to annual 
renewal and satisfactory inspection and certification by the Bureau of Tourism. Fees for the annual 
permit range from US$5,000 for a casino, to US$500 for a hotel to US$50 for a bar/fast food 
restaurant.  Registration of a travel agency or  tour operator costs US$100. Registration with the 
Bureau of Tourism is apart from the normal require ments for all businesses to be registered with the 
Ministry of Commerce and Industry (MoCI).  
There is need to develop national standards for ho tels and other establishments but the Bureau of 
Tourism currently operates a categorization of first, second and third class entities based on whether 
they contain 85 per cent or all of the following fac ilities:  telephone, fax and Internet service; bar, 
restaurant and dining rooms; disco/casino; wall-to-wall carpeting in rooms; laundry service; transportation; conference room; bilingual personnel at  front desk; uniformed front staff; parking lot; 
television in each room; and security measures and burglar alarm systems. 
There have been significant increases in visitor a rrivals at the Roberts International Airport since 
2006.  Most of these have been associated with th e presence of the United Nations Mission in Liberia 
(UNMIL) and international agencies; but also Liberian s living abroad are returning to visit friends and 
relatives.  Tourist arrivals are as indicated in the table below. 
Table 15:   Visitor Arrivals at Roberts International Airport
 
Year Arrivals 
2006 45,106 
2007 82,155 
2008 58,838 
Source:  National Transport Policy & Strategy, July 2009, p.26  
The Liberian government provides incentives, includ ing tax and custom duty exemptions, to foster 
growth in the tourism industry.  These are discu ssed in Section II.2.d above.  Liberia is seeking 
membership in the World Tourism Organization and it is also desirous of signing the World Heritage 
Convention and the Man and the Biosphere Convention.  
2. Policies affecting Trade in Services 
See Annex 7 for details on measures affecting trade and investment in services. 
                                                      
32 See pamphlet entitled, "Guidelines, Rules and Regu lations Governing Tourism in Liberia" published 
by the Bureau of Tourism.   WT/ACC/LBR/3 
 Page 65 
 
 
  (a) Government departments, agencies, prof essional associations or other bodies with 
authority or a role relevant to the conduct of service activities 
− Ministry of Commerce and Industry – various service activities; 
− Central Bank of Liberia – financial services; 
− Ministry of Education – all levels of education services; 
− Ministry of Finance – financial services; 
− Ministry of Transport – transportation, insurance; 
− Ministry of Information, Culture and Tourism – tourism, broadcasting; 
− Ministry of Posts and Telecommunications – telecommunications/ICT; 
− Liberia Telecommunications Authority; 
− Ministry of Public Works – construction, engineering; 
− Ministry of Health and Social Welfare – medical services; 
− Bureau of Maritime Affairs; 
− Environmental Protection Agency; 
− Liberia Civil Aviation Authority; 
− Liberia Institute of Certified Public Accountants; 
− Liberia National Bar Association; 
− Liberia Chamber of Architects; 
− Liberia Medical and Dental Council; and 
− Liberia Medical Board. 
(b) Judicial, arbitral or administrative tribuna ls or procedures providing for the review of, 
or remedies in relation to, administrative  decisions affecting trade in services 
Not applicable 
(c) Provisions, including those in intern ational agreements, concerning qualification 
requirements and procedures, technical sta ndards and licensing and/or registration 
requirements for the supply of services 
Not applicable.  
(d) Provisions governing the existence and opera tion of monopolies or exclusive service 
suppliers 
There are no provisions for such in domestic laws except in the case of utilities. 
(e) Provisions relating to safeguard measures as they apply to trade in services 
No safeguard measures are in place in Liberia. 
(f) Provisions relating to international transf ers and payments for current transactions of 
services 
There are no restrictions on international transfers and payments for services transactions except in 
the case of balance of payments difficulties.  
(g) Provisions relating to capital transa ctions affecting the supply of services 
There are no specific provisions in domestic law in this regard.  WT/ACC/LBR/3 
Page 66  
 
  (h) Provisions governing the procurement by governmental agencies of services 
A domestic preference is in place, of 15-20 per cent,  to favour domestic firms over foreign ones, when 
they bid for public procurement tenders.  Although this is a fairly common practice, the rates of 
preference are high.  In addition, local businesses, not owned 100 per cent by Liberian citizens, are 
offered lower preferences, which decr ease as non-Liberian ownership increases. 
(i) Provisions concerning any form of aid, grant, domestic subsidy, tax incentive or 
promotion scheme affecting trade in services 
Fiscal incentives and duty waivers exist for the t ourism sector as well as construction.  For new 
investments of at least US$1 million there is a 30 per cent tax deduction for the cost of hotels or tourist resorts.  
3. Market Access and National Treatment 
See Annex 7 for details on measures affecting trade and investment in services. 
4. Most-Favoured-Nation Treatment 
There are no measures that are inconsistent with MFN treatment. Liberia has no special trade 
arrangement regarding services with any other country.  
VII. INSTITUTIONAL BASE FOR TRADE AND ECONOMIC RELATIONS WITH 
THIRD COUNTRIES 
1. Bilateral or plurilateral agreements relating to foreign trade in goods and trade in 
services 
Liberia is not a party to any formal bilateral or plurilateral trade agreements.  Under the GSP and the 
Everything But Arms Initiative, Liberia enjoys non- reciprocal preferential market access into Europe. 
Under the US African Growth Opportunity Act ( AGOA), Liberia has preferential market access for a 
range of goods into the US market.  
2. Economic integration, customs union and free-trade area agreements 
Liberia is a member of ECOWAS but has not signed the Protocol on trade liberalization.  While 
ECOWAS is supposed to have a customs union, Libe ria is not yet part of that process but may 
become so in the future.  Liberia does not be long to any bilateral free trade agreement.  
In principle, Liberia is part of the ECOWAS group of countries engaged in  negotiations with the 
European Commission towards an Economic Partne rship Agreement (EPA) that should eventually 
result in a reciprocal trade arrangement dea ling with goods but not services or investment.  
3. Labour markets integration agreements 
Liberia is not party to any formal la bour market integration agreements.   WT/ACC/LBR/3 
 Page 67 
 
 
  4. Multilateral economic cooperation, me mbership in the multilateral economic 
organizations, trade-related programmes of other multilateral organizations 
Liberia is a member of the United Nations and th e UN Mission (UNMIL) in Liberia has been in place 
for several years.  The total complement of UN pe rsonnel in Liberia is in the vicinity of 11,000 
persons.  In terms of multilatera l economic cooperation, the GOL actively collaborates with the World 
Bank, the IMF, UNDP, UNIDO, UNCTAD.   WT/ACC/LBR/3 
Page 68  
 
  ANNEX 1 
STATISTICS AND PUBLICATIONS
 
1. Foreign trade statistics for goods and services: responsible agencies 
Liberia Institute of Statistics and Geo-Information Services (LISGIS) 
9th Street Sinkor, Monrovia 
Liberia 
Tel:  231 273 11001 
Fax:  231 243 00023 
Central Bank of Liberia 
Corner of Warren and Carey Street 
Monrovia, Liberia 
Tel:  (231) 226-991/225-685/229-728 
Fax:  (231) 226-114 
2. Publications related to statistics 
− Central Bank of Liberia – Annual Reports and Quarterly Reports 
− Various reports by LISGIS on specific economic issues. 
3. Statistical Data 
(a) Main economic indicators 
(i) GNP 
Table 16:   Liberia - Sectoral Origin of Gross Domestic Production (GDP) at 1992  
Constant Price (in million US$) 
Sector 2006 2007 2008 
Agriculture and fisheries 192.3 210.4 213.8 
 Rubber 35.3 38.6 31.2 
 Cocoa 1.3 1.4 0.1 
 Coffee 0.1 0.1 1.4 
 Rice 36.9 40.3 46.6 
 Cassava 42.0 46.0  49.0 
 Other 76.1 84.0  85.5 
Forestry 74.1 81.1 97.5 
 Logs and Timber 0.0 0.0  18.9 
 Charcoal 74.1 81.1 78.6 
Mining and Panning 0.7 0.8 0.8 
 Iron ore 0.0 0.0  0.0 
 Other 0.7 0.8 0.8 
Manufacturing 55.5 60.8 64.3 
 Cement 13.4 14.6 15.7 
 Beverage 38.7 42.3 44.7 
 Other   3.9 
Services 110.5 120.9 130.7 
 Electricity and Water 3.0 3.3 3.8 
 Construction 11.3 12.3 16.1  WT/ACC/LBR/3 
 Page 69 
 
 
  Sector 2006 2007 2008 
 Trade, Hotels, etc. 29.2 31.9 36.7 
 Transportation and Communication 30.9 33.8 34.8 
 Financial Institutions 10.8 11.8 11.9 
 Government Services 10.4 11.4 11.3 
 Other Services 14.9 16.3 16.2 
Real Gross Domestic product 433.2 473.9 507.1 
Source: Liberian Authorities and IMF Staff estimates and projections. 
(ii) GNP per capita 
Estimates of GNP per capita for Liberia vary significa ntly due to the lack of reliable data.  The World 
Bank's World Development Indicators estimated th e gross national income (GNI) per capita for 
Liberia as US$170 in 2008 using the Atlas method (i n current US$).  This was on the basis of a GDP 
of US$842,507,278 and a population of 3,793,400 persons. 
(iii) Budget 
Despite strong growth in the tax base, government revenue remains extremely small. Total revenue 
collected by the government during the fiscal year 2007/08 was only US$206.9 million, including small grants periodically received from internat ional donors.  The key revenue streams that 
contributed to revenue were taxe s on imports, amounting to US$87.1 million, 43 per cent of the total, 
and direct taxes on individuals and businesses, amoun ting to US$54.1 million 26 per cent of the total. 
Indirect taxes, such as sales tax, were anot her important contributor to the budget, totalling 
US$19.7 million.  Weak enforcement of tax laws cons trains the size of the tax collection, causing the 
government to rely disproportionately  on revenue from import duties. (MPEA) 
Table 17:  Core Government Budget 2010/11
 
(US$ Million) 
 2010/11 
Core revenue 277.1 
Domestic borrowing 9.8 
ADB grant of 10 million SDRs 15.6 
Core Government Budget 302.5 
Non-discretionary expenditure (including Contingency Fund) 169.4 
  Personnel expenses 119.1 
  Debt-related payments 32.6 
  Goods and services 12.2 
  Emergency Reserve 5.5 
Discretionary expenditure 133.0 
  o/w Capital expenditure minimum 9.8 
Source: Macro-Fiscal Analysis Unit, Ministry of Finance  
(iv) Production and consumption of the basic goods 
This information is not available WT/ACC/LBR/3 
Page 70  
 
  (v) Annual changes in prices 
Table 18: Prices of Rice and Petroleum Products
 
(in US$) 
2008 2009 2010 
Product Unit Wholesale 
Price Retail 
Price Wholesale 
Price Retail 
Price Wholesale 
Price Retail 
Price 
Rice by type 
Chinese Round Grain 
White Rice (Butter Rice) 50 kg 26.00 27.00 31.00 32.00 29.00 30.00 
U.S. NR2 Parboiled 
Rice 50 kg 27.00 28.00 35.00 36.00 - - 
Chinese Parboiled 
Rice 50 kg 27.00 27.50 17.00 17.50 - - 
Chinese Parboiled 
Rice 50 kg 54.00 55.00 34.00 35.00 32.00 33.00 
Thailand White Rice 
5% (broken) 50 kg 44.00 45.00 30.00 31.00 - - 
Thailand Parboiled 
Rice 50 kg 22.00 22.50 16.00 16.50 - - 
Thai Long Grain 
White Rice 50 kg - - 22.00 23.00 24.00 25.00 
Indian Parboiled Rice 50 kg 24.50 25.00 16.00 16.50 - - 
Petroleum products 
Gasoline (PMS) Gallon* 2.57 2.75 2.97 3.15 3.37 3.55 
Diesel Fuel (AGO) Gallon* 3.27 3.45 2.92 3.10 3.32 3.50 
Kerosene/Jet A-1 Gallon* 3.27 3.45 3.02 3.20 3.22 3.40 
*1 Gallon is approximately equal to 3.785 Litres. 
Source:  MoCI . 
Table 19:  Prices of other consumer goods  
Price (2008, 2010) 
2008 2010 Commodity Unit/ 
description Wholesale US$ Retail Price 
US$ Wholesale 
US$ Retail US$ 
Evaporated Milk 170 gm x 48 ctns   17.49/ctn 20.99/ctn 
Table Salt 350 gm 5.27/bag 5.80/bag 5.35/bag 6.16/bag 
White Shell 
Eggs 12 Trays/ctn 31.60/ctn 34.76/ctn 31.05/ctn 35.71/ctn 
Wheat Flour 100 lbs 41.92/bag 48.21/bag 37.57/bag 45.08/bag 
Wheat Flour 50 lbs   19.66/bag 23.59/bag 
Baking Powder 8 lbs x 6 tins   29.48/ctn 33.90/ctn 
Baking Powder 1lb x 8 tins   14.70/ctn 16.91/ctn 
Crystal Sugar 50 kg   56.55/bag 62.21/bag 
Cooking Oil - 33.62/can 36.98/can   
Cement 50 kg bag 9.05 10.50 8.25 8.95 
Source:  MoCI.   WT/ACC/LBR/3 
 Page 71 
 
 
  (vi) Employment in different sectors 
Table 20:  Employment by Industry (2006-2008)  
(Estimates) 
Industry 2006 2007 2008 
Agriculture and Forestry 12,200 33,672  176,326 
General Merchandise/Wholesale/Retail Trade 43,500 36,633  18,928 
Business Services 2,475 9,872  10,115 
Business Services 12,470 15,575  13,327 
Social/Community Services 1,045 5,813  2,785 
Manufacturing 535 987  4,300 
Construction 1,540 2,194  11,178 
Transportation and Communication 1,009 3,290  2,508 
Mining  1,645  8,206 
Banking and Insurance 58,500 31,900  47,681 
Total:  Formal Sector 133,274 141,581  295,354 
Informal Sector 470,000 480,000  487,000 
Source:  Ministry of Labour, Monrovia, Liberia.  
(vii) Levels of employment 
Table 21:  Level of Employment in Liberia  
Total number of employees by sector (2006-2008)  
(Estimates) 
Sector 2006 2007 2008＊ 
Public Sector 58,500 31,900  47,681 
Private Sector 74,774 109,681  247,673 
Total 133,274 141,581  295,354 
Informal Sector 470,000 480,000  487,000 
Source:  Ministry of Labour, Monrovia, Liberia.  
  
  WT/ACC/LBR/3 
Page 72 (viii) Balance of payments 
Table 22:  Balance of Payments/Analytical Presentation  
(In million US$) 
BOP Code  2004 2005 2006 2007 2008 
CURRENT ACCOUNT  (159.7)  (183.5)  (172.8)  (211.8)  (483.4) 
Goods and services balance  (741.5)  (816.4)  (1,224.6)  (1,200.6)  (1,505.6) 993 
Trade balance  (174.1)  (174.1)  (286.5)  (302.3)  (498.9) 
Goods  (174.1)  (174.1)  (286.5)  (302.3)  (498.9) 
 Exports  104.8  132.3  154.6  196.2  269.1  
  BIVAC/MCI Statistics  103.8  131.3  153.0  186.7  247.4  
   Taxable exports (EPD)      52.3  50.0  98.5  
   Tax exempt commercial exports (EPD)  -   -   100.8  136.5  130.6  
   Tax exempt non-commercial (EPD)      -   0.0  0.7  
   Exports by embassies and IOs      -   0.2  3.7  
   Diamond (LME)       -   2.7  10.0  100 
   Nonmonetary gold  -   -   0.2  5.5  13.3  
170    Credit for goods procured in Liberia by non-resident carriers (fuels, 
provisions, etc.).  0.9  1.0  1.5  1.6  2.1  
171 In seaports  0.2  0.2  0.2  0.3  0.4  
In airports  0.8  0.8  1.2  1.3  1.8  
 Imports f.o.b.  278.9  30 6.4  441.1  498.5  768.0  
  BIVAC/MCI Statistics (c.i.f.)  295.1  324.2  466.7  529.6  864.5  
   Taxable imports (CRF and NNRF)        415.3  697.8  
   Tax exempt commercial imports (IPD)        49.0  27.7  
   Tax exempt non-commercial (IPD) - Donor Funded Imports        60.6  130.8  
   Imports by embassies and IOs        4.7  8.1  
   Freight and Insurance, BIVAC  52.6  57.7  83.1  91.5  166.2  
  Adjustment for unrecorded and undervalued            
   Imports, c.i.f.  44.3  48.6  70.0  78.7  102.8  
   Freight and Insurance  7.9  8.7  12.5  13.7  24.9  172 
 
   Fright and Insurance - total  60.4  66.4  95.6  105.2  191.1  
200 Services  (567.4)  (642.2)  (938.1)  (898.3)  (1,006.6) 
205  Transportation  (65.5)  (69.3)  (99.5)  (107.1)  (187.5) 
  Sea transport/other services  6.4  10.0  13.6  18.4  19.2  206 
   Credit   6.4  10.0  13.6  18.4  19.2  
  Air transport/other services  0.7  1.1  1.5  1.7  3.2  213 
   Credit   0.7  1.1  1.5  1.7  3.2   
   WT/ACC/LBR/3
 Page 73BOP Code  2004 2005 2006 2007 2008 
  Freight  (57.4)  (62.9)  (90.8)  (99.9)  (181.6) 851 
   Debit  (57.4)  (62.9)  (90.8)  (99.9)  (181.6) 
  Passenger transportation   (15.3)  (17.4)  (23.7)  (27.3)  (28.4) 850 
   Debit  (15.3)  (17.4)  (23.7)  (27.3)  (28.4) 
236  Travel  44.8  51.6  107.1  114.5  127.7  
237   Business travel  44.8  51.6  107.1  114.5  127.7  
   Other  44.8  51.6  107.1  114.5  127.7  
    Credit   58.6  67.2  124.4  135.4  158.0  
    Domestic consumption of non-resident expatr iates   58.4  67.0  123.9  122.0  141.8  
   UNMIL  56.3  62.9  66.9  66.8  65.3  
   Donor Projects  2.1  4.1  57.0  55.3  76.5  
   Expenditure in Liberia by non-residents other than 
expatriates  0.2  0.2  0.4  9.1  16.2  
    Debit   (13.9)  (15.7)  (17.3)  (20.9)  (30.3) 
    Business Travel/Government  4.5  5.0  2.7  3.3  3.5  
    Medical  0.2  0.3  0.4  0.4  0.5  239 
    Expenditures of residents traveling abroad  9.2  10.4  14.2  17.3  26.4  
 Insurance services/Freight insurance  (3.1)  (3.5)  (4.8)  (5.3)  (9.6) 255 
  Debit (premiums)  (3.1)  (3.5)  (4.8)  (5.3)  (9.6) 
268  Other business services  2.5  2.8  (41.0)  (38.1)  (42.2) 
  Operational leasing services  2.5  2.8  3.8  4.3  4.5  
   Credit   2.5  2.8  3.8  4.3  4.5  
    NPA  2.4  2.7  3.7  4.2  4.4  272 
    Airport  0.1  0.1  0.1  0.1  0.1  
 Legal, accounting, management consulting, and public relations  -   -   (0.0)  (1.2)  (2.8) 274 
  Debit  -   -   (0.0)  (1.2)  (2.8) 
281  Agricultural, mining, and on-site processing services  -   -   (44.8)  (41.2)  (43.9) 
    Debit  -   -   (44.8)  (41.2)  (43.9) 
287  Personal, cultural, and recreational services  -   -   (35.5)  (23.1)  (26.1) 
  Education services  -   -   (32.8)  (18.5)  (21.4) 895 
   Debit  -   -   (32.8)  (18.5)  (21.4) 
 Health services  -   -   (2.7)  (4.6)  (4.7) 896 
  Debit  -   -   (2.7)  (4.6)  (4.7) 
291  Government services, n.i.e.   (546.0)  (623.8)  (864.4)  (839.3)  (869.0) 
  Other government services           294 
   Credit  144.2  132.1  193.3  190.6  197.7  
     Local purchase of goods and servi ces  126.0  113.8  171.8  166.1  172.6   
  WT/ACC/LBR/3 
Page 74 BOP Code  2004 2005 2006 2007 2008 
     UNMIL:   122.8  108.8  102.9  103.1  93.1  
     Donor Projects  3.2  5.0  69.0  63.0  79.5  
    Maritime Revenue  12.6  12.0  12.8  13.2  14.6  
    NPA  4.5  5.1  7.0  9.5  10.2  
    Airport  1.1  1.2  1.6  1.9  0.2  
   Debit  (690.2)  (756.0)  (1,057.7)  (1,029.9)  (1,066.7) 
    UNMIL/Full amount of the project  669.6  724.2  711.1  705.2  646.1  
    Donor Projects n.i.e.  19.7  30.8  345.5  323.4  418.2  
    Foreign governments  12.8  24.0  196.1  171.9  263.9  
    European Union  -   -   13.9  15.2  77.2  
    World Bank   6.9  6.8  51.2  66.4  13.9  
    UN Organisations, excl. UNMIL  -   -   84.4  69.9  63.2   
   Expenditure on embassies abroad  0.9  1.0  1.1  1.3  2.4  
300 Income  (162.6)  (146.6)  (148.3)  (149.9)  (156.0) 
 Compensation of employees  4.8  9.0  18.1  19.6  21.3  
  Credit  5.0  9.2  18.3  19.9  22.4  
   UNMIL Local Staff  4.7  8.7  11.9  14.0  15.1  
   Donor Projects  0.3  0.5  6.4  5.8  7.4  
  Debit  (0.2)  (0.2)  (0.2)  (0.3)  (1.1) 310 
 
   Overseas embassies  0.2  0.2  0.2  0.3  1.1  
320  Investment income  (167.4)  (155.6)  (166.4)  (169.5)  (177.3) 
  Direct investment  (5.7)  (7.1)  (14.0)  (14.7)  (22.5) 330 
   Debit  (5.7)  (7.1)  (14.0)  (14.7)  (22.5) 
332    of which reinvested earnings  (2.8)  (3.5)  (7.0)  (7.3)  (11.3) 
370   Other investment           
   General government  (161.8)  (148.6)  (152.4)  (154.9)  (154.8) 
    Debit  (161.8)  (148.6)  (152.4)  (154.9)  (154.8) 
    Payment made  -   0.2  1.0  1.1  1.1  
    Interest payments due  140.0  140.8  141.0  141.9  126.3  372 
 
    Other  21.8  7.6  10.4  11.9  13.8  
  Current account balance (bef ore foreign assistance)  (904.1)  (963.0)  (1,372.9)  (1,350.6)  (1,661.6) 
379 Current Transfers  744.4  779.4  1,200.1  1,138.8  1,178.1  
 General government  689.3  755.0  1,137.0  1,094.1  1,137.0  380 
    Credit (foreign assistance)  689.3  755.0  1,137.0  1,094.1  1,137.0  
   UNMIL/Full amount of the project  669.6  724.2  711.1  705.2  646.1  
   Donor Projects n.i.e.  19.7  30.8  425.8  388.9  490.9   
    Foreign governments  12.8  24.0  196.1  171.9  263.9   
   WT/ACC/LBR/3
 Page 75BOP Code  2004 2005 2006 2007 2008 
    European Union  -   -   13.9  15.2  77.2  
    World Bank   6.9  6.8  51.2  66.4  13.9  
    UN Organisations, excl. UNMIL  -   -   164.7  135.4  136.0  
     of which:           
     Foreign Assistance in Kind  -   -   51.7  58.4  80.7  
     Government  -   -   24.6  27.9  23.6  
     UN Organisations  -   -   7.5  8.4  21.6  
     NGO's  -   -   16.4  18.5  33.8   
     Other foreign assistance in kind  -   -   3.2  3.6  1.7  
390  Other sectors  55.1  24.4  63.1  44.7  41.1  
  Workers' remittances   53.5  22.6  60.5  42.1  41.1  
   Credit   53.5  22.6  60.5  42.1  41.1  391 
  
      Other  1.6  1.8  2.7  2.6  2.6  
  Current account (after foreign assistance)  (159.7)  (183.5)  (172.8)  (211.8)  (483.4) 
996 CAPITAL AND FINANCIAL ACCOUNT  206.7  218.1  194.1  221.5  530.1  
994 Capital Account  -   -   -   -   -   
400  Capital transfers           
401  General government  -   -   -   -   -   
402   Debt forgiveness           
995 Financial Account  206.7  218.1  194.1  221.5  530.1  
500  Direct investment  75.4  82.8  107.9  131.6  272.0  
555   in Liberia  75.4  82.8  107.9  131.6  272.0  
580   Other capital  75.4  82.8  107.9  131.6  272.0  
   Liabilities to direct investors  75.4  82.8  107.9  131.6  272.0  590 
    of which reinvested earnings  2.8  3.5  7.0  7.3  11.3  
700  Other investment  136.6  137.7  124.8  128.6  330.6  
703   Assets  (3.3)  (3.1)  (15.5)  (13.2)  (33.2) 
730   Currency and deposits  (3.3)  (3.1)  (15.5)  (13.2)  (33.2) 
731    Monetary authorities  (3.3)  (3.1)  (15.5)  (13.2)  (33.2) 
753   Liabilities  140.0  140.7  140.3  141.9  363.8  
764    Loans  (19.9)  (18.7)  (5.7)  (4.9)  545.0  
769     General government  (19.9)  (18.7)  (5.7)  (4.9)  (13.4) 
    Repayments/Reduction of external debt/Debt Relief            
    Repayments/Other  (19.9)  (18.7)  (5.7)  (4.9)  (13.4) 
786    Other liabilities  159.8  159.4  146.0  146.8  107.5  
790     General government  159.8  159.4  146.0  146.8  107.5  
792     Short-term.   159.8  159.4  146.0  146.8  107.5   
  WT/ACC/LBR/3 
Page 76 BOP Code  2004 2005 2006 2007 2008 
                     Exc. Fin. -    Principal on long-term debt   19.9  18.6  5.0  4.9    
                       Exc. Fin. -    Original interest  140.0  140.8  141.0  141.9  -   
802 Official reserve assets  (5.3)  (2.3)  (38.6)  (38.8)  (72.5) 
803  Foreign exchange  (5.3)  (2.3)  (38.6)  (38.8)  (50.1) 
808   Currency and deposits  (5.3)  (2.3)  (38.6)  (38.8)  (50.1) 
   With banks  (5.3)  (2.3)  (38.6)  (38.8)  (50.1) 
    Changes in CBL's NFA (- increase)  (5.3)  (2.3)  (38.6)  (38.8)  (50.1) 808 
 Special Drawing Rights  -   -   -   -   (22.4) 
998 Net errors and omissions  (46.93)  (34.60)  (21.24)  (9.67)  (46.69) 
Source:  Central Bank of Liberia, Annual Report 2009.     
Note:   Merchandise trade figures are adjusted for informal trade.  WT/ACC/LBR/3 
 Page 77 
 
 
  (ix) Foreign exchange 
The Liberian dollar floats against the US$.  Over all, the exchange rate has varied between L$60.00 
and L$73.00 per US$ for the past three years.    
Table 23: Exchange Rates:  Liberian $ per US$  
Exchange rate 2007 2008 2009 
Market rate:  end of period 62.50 64.00 70.50 
Market rate:  period average 60.77 63.29 67.81 
Source:  Central Bank Annual Report 2009. 
(b) Foreign trade statistics 
(i) Foreign trade (aggregates at the two-digit HS level) 
(ii) Export statistics 
Table 24:  Liberia Domestic Exports 2008 (US$)  
HS 
Chapter Product description Unit Quantity FOB value 
03 Fish and crustaceans kg - 900 
07 Edible vegetables kg 60 47,300 
08 Ed. Fruits and nuts, peel  of citrus/melons kg 2 23 
09 Coffee, tea, mate and spices kg 21,341 89,290 
12 Oil seeds/misc. Grains/m ed. Plants/straw kg 6 1,000 
15 Animal or vegetable fats , oils and waxes kg 246,461 966,487 
18 Cocoa & cocoa preparations Kg 66,245 3,132,002 
21  Misc. Edible preparations Kg 1,092 41,225 
24 Tobacco & manuf. Tobacco substitutes kg 40 504,968 
25 Salt, sulphur, earth and st one, lime and cement kg 30 75 
28 Inorganic chem, org/inorg compounds of  precious metals, isotopes kg 903 30,535 
30 Pharmaceutical products Kg 66 34,853 
40 Rubber and Articles thereof. Kg 2,585,919 163,968,322 
44 Wood & articles of wood, wood charcoal kg 281 287,548 
70 Glass & glassware kg 1 2,220 
71 Pearls, stones, prec. Metals, imitation jewellery, coins carat/ 
ounce       62,833 21,988,803 
72 Iron & steel kg 113,319 7,725,630 
73 Articles of iron or steel kg 54 5,000 
84 Nuclear reactors, boilers, machinery & mechanical appliances, 
computers u/kg 525 159,984 
85 Electrical machinery and equip. & parts, telecommunications equip., 
sound recorders, television recorders u/kg 82 76,960 
87 Vehicles other than railway or tramway rolling stock u 1,099,361 5,437,180 
90 Optical, photographic, cinematographic, measuring, checking, 
precision, medical or surgical  instruments & accessories u 6 6,567 
94 Toys, games and sports equip, parts & access.  kg 63 89,812 
97 Works of art. Collectors' pieces, antiques kg 1 24,800 
98 Agric, construction, trans, electri c/ gas/ sanitary, eng and mgmt and 
envir. quality kg 28,879 624,916 
Source:  LISGIS.  WT/ACC/LBR/3 
Page 78  
 
  Table 25: Main Domestic Exports Items by Value (FOB, US$)
 
Product 2007 Share (%) 2008 Share (%) 2009 Share (%) 
Rubber (raw or processed) 43, 274,444 87.4 60,164,416 50.4 44,980,547 58.6 
Cocoa Beans 318,680 0.6 3,015,932 2.5 1,973,100 2.6 
Palm Oil 284,205 0.6 261,075 0.2 103,350 0.1 
Iron Ore 280,767 0.6 270,000 0.2 300,000 0.4 
Aluminium- Zinc Sheets 91,425 0.2 - 0 51,000 0.1 
Coffee 90,000 0.2 21,341 0 146,000 0.2 
Assorted General 
Merchandise 48,401 0.1 400,959 0.3 781,306 1 
Generators 42,227 0. 1 89,290 0.1 25,922 0 
Cigarettes 32,780 0.1 320,581 0.3 412,500 0.5 
CAM Wood 21,436 0 133,532 0.1 8,280 0 
Scrap Metal 18,478 0 2,802,750 2.3   0 
Machines and equipment 10,000 0 522,743 0.4 2,685,866 3.5 
Household Effects 9,000 0 750 0 26,339 0 
Assorted African Food 2,364 0 18,025 0 136,748 0.2 
Others 4,964,883 10 51, 456,422 43.1 25,144,445 33 
Total  49,489,090 100 119,477,816 100 76,775,403 100 
Source: Customs.  
Table 26:  Main Export Destination Markets (2008)  
Country Value (US$) Share (%) 
Belgium 56,628,787 47.5 
USA 54,870,327 46.1 
Spain 1,973,475 1.7 
UAE 1,524,675 1.3 
China 657,181 0.6 
Germany 654,720 0.5 
Ghana 533,130 0.4 
India 411,200 0.3 
Guinea 381,018 0.3 
UK 280,500 0.2 
Netherlands 272,494 0.2 
Canada 238,817 0.2 
Ivory Coast 138,432 0.1 
Malaysia 127,734 0.1 
Gambia 97,200 0.1 
DR Congo 89,141 0.1 
Others 136,710 0.1 
All countries 119,097,907 100.0 
Source:  Customs. 
(iii) Import statistics 
Table 27:  Liberia Imports by Value (CIF US$, 2006-2009)  
HS 
Chapter Product Description 2006 2007 2008 2009 
1 Live animals 157 - 120,685 - 
2 Meat and edible Meat offal 9,931,498 17,229,050 18, 706,509  11,847,553 
3 Fish and Crustaceans Molluscs and Other Aquatic 
Invertebrates 1,927,107 2,615,065 10,848,557  6,958,145 
4 Dairy Produce Bird's Eggs Natural Honey Edible 
Products of Animal Origin n.e.s. 10,769,605 12,411,631 14, 812,496  9,501,630 
5 Products of Animal Origin n.e.s. 1,231 4,400 905  -  WT/ACC/LBR/3 
 Page 79 
 
 
  HS 
Chapter Product Description 2006 2007 2008 2009 
6 Live Trees and Other Plants Bulbs Roots and the 
Like Cut Flower and Ornamental Foliage 31,457 83,078 33,885  - 
7 Edible Vegetables and Certain Roots a nd Tubers 1,875,547 2,603, 069 3,452,350  2,365,813 
8 Edible Fruit and Nuts P eel of Citrus Fruit or 
Melons 114,348 235,358 259,510  195,039 
9 Coffee Tea Mate and Sp ices 335,585 488,445 552,105  506,642 
10 Cereals 22,285,924 42,631, 077 184,640,903  39,475,785 
11 Products of the milling Industry 8,333, 473 10,585,867   14,407,221  5,613,050 
12 Oil Seeds and Oleaginous  Fruits Miscellaneous 
Grains Seeds and Fruit Industrial or Medicinal 
Plants Straw and Fodder 7,963 14,098          17,651  40,842 
13 Lac Gums Resins and Other Vegetable Saps and 
Extracts 119,879 337,597     1,715,294  269,513 
14 Vegetable Plaiting Mate rials Vegetable Products 
n.e.s. or Included 77 406            3,749  1,004 
15 Animal or Vegetable Fa ts and Oils and Their 
Cleavage Products Prepared Edible Fats Animal 
or Vegetable Waxes 9,580,357 13,540,176   11,397,109  13,912,251 
16 Preparations of Meat Fish Crustaceans Molluscs 
or Other Aquatic Invertebrates 3,639,702 4,726,868     5,487,977  2,257,269 
17 Sugar or Sugar confectionery 5,394,130  7,362,760     9,293,830   4,120,523 
18 Cocoa and Cocoa Preparations 362,389 689,418 466,364  333,714 
19 Preparations of Cereals Flour Starch or Milk 
Pastry cooks Products 3,918,150 6,106,080 - 5,930,508 
20 Preparations of Vegetables Fruit Nuts or Other 
Parts of Plants 2,289,047 3,270,847     3,423,003  2,924,333 
21 Miscellaneous Edible Preparations 5, 774,068 7,747,027     9,192,094  6,680,965 
22 Beverages Spirits and Vinegar 6,930, 419 9,052,491   14,560,927  6,072,817 
23 Residues and Waste from the Food Industries 
Prepared Animal Fodder 80,124 42,648        190,449  27,055 
24 Tobacco and Manufactured Tobacco Substitute s 7,102,500 7,721,413     7,488,241  5,150,577 
25 Salt Sulphur Earths and St one Plastering Materials 
Lime and Cement 1,548,218 2,128,353     2,287,414  6,084,390 
26 Ores Slag and Ash 33,812 -               753  - 
27 Mineral Fuels Mineral Oils and Products of their 
Distillation Bituminous Substances Mineral 
Waxes 72,332,860 78,441,998 215, 405,984  85,948,903 
28 Inorganic Chemicals Organic or Inorganic 
Compounds of Precious or Rare-Earth Metals of 
Radioactive Elements or Isotopes 1,785,076 2,031,976     1,949,559  3,013,495 
29 Organic Chemicals 1,748,873 2, 993,815     2,968,383  2,021,150 
30 Pharmaceutical Products 2,780,239 3,663,244     5,339,767  4,323,511 
31 Fertilisers 33,029 108,262          64,893  787,514 
32 Tanning or Dyeing Extracts Tannins and Their 
Derivatives Dyes Pigmen ts and Other Colouring 
Matter Paints and Varnishes Putty and Other 
Mastics Inks 1,608,182 1,240,118     1,444,023  1,291,704 
33 Essential Oils and Resi noids Perfumery Cosmetic 
or Toilet Preparations 3,119,568 4,603,527     4,823,245  2,733,252 
34 Soap Organic Surface-Active Agents Washing 
Lubricating Preparations and Similar Artificial 
Prepared Waxes Polishing Scouring Preparation 
Candles Articles Modelli ng Pastes Dental Waxes 3,695,774 4,120,456     5,303,146  2,756,790 
35 Albuminoidal Substances  Modified Starches 
Glues Enzymes 195,575 354,156        295,839  528,593 
36 Explosives Pyrotec hnic Products Matches 
Pyrophoric Alloys Certain Combustible 
Preparations 763,007 730,063        982,633  359,820 
37 Photographic or Cinematographic Goods  322,924 329,117        412,421  225,691 
38 Miscellaneous Chemical Products 1,750, 714 2,744,097     2,881,453  2,199,440 
39 Plastics and Articles Thereof 6,991,790 9,872,302   12,232,175   WT/ACC/LBR/3 
Page 80  
 
  HS 
Chapter Product Description 2006 2007 2008 2009 
40 Rubber and Articles Thereof 2,731,074  3,043,498     6,373,524  2,813,638 
41 Raw Hides Skins Leather Fur skins and Articles 
Thereof Saddlery Harness Travel Handbags and 
Similar Containers Articles of Animal Gut - 712,061            3,130  - 
42 Articles of Leather Sa ddlery Harness Travel 
Goods Handbags and Simila r Containers Articles 
of Animal Gut 882,678 -        919,012  502,891 
43 Fur skins and Artificial Fur Manufactures Thereof - 51               344  187 
44 Wood and Articles of Wood; Charco al 165,815,312 1,189,100 4,023,563  11,966,932 
45 Cork and Articles of Cork 39 2,522               464  1,822 
46 Manufactures of Straw Esparto or Other Plaiting 
Materials Basket ware and Wickerwork 1,267 1,595            2,025  20,282 
47 Pulp of Wood or of Fi brous Cellulosic Material 
Recovered (Waste and Scrap) Paper or Paperboard 231,836 236,785        199,331  90,312 
48 Paper and Paperboard Articles of Paper Pulp 
Paper or Paperboard 3,143,407 3,667,869     5,051,467  4,386,071 
49 Printed Books Newspapers Pictures and Other 
Products of the Printing Industry Manuscripts 
Typescripts and Plans 704,265 1,014,322     1,651,577  1,444,444 
50 Silk - -            2,482  - 
51 Wool Fine or Coarse Animal Hair Horsehair Yarn 
and Woven Fabrics - -                 14  1,058 
52 Cotton 838,639 1,315,216     1,536,712  666,389 
53 Other Vegetable Textile Fibres Paper Yarn and 
Woven Fabrics of Paper Yarn 87 7,053          35,040  29,175 
54 Man-made Filaments 106,110 197, 275        228,322  369,360 
55 Man-made Staple Fibres 845, 747 1,198,716     1,379,646  706,556 
56 Wadding Felt and Nonwovens Special Yarns 
Twine Cordage Ropes Cables and Articles 
Thereof 171,261 148,836        383,076  125,135 
57 Carpets and Other Textil e Floor Coverings 234,331 311,578        264,417  143,864 
58 Special Woven Fabrics Tufted Textile Fabrics 
Lace Tapestries Tr immings Embroidery 6,982 32,240          24,788  3,653 
59 Impregnated Coated Covered or Laminated 
Fabrics Textile Articles of a Kind Suitable for 
Industrial Use 36,132 65,404          28,018  16,878 
60 Knitted or Crocheted Fabrics 6,570 159               445  - 
61 Articles of Apparel and Clothing Accessories 
Knitted or Crocheted 669,883 798,867     1,084,741  1,239,623 
62 Articles of Apparel and Clothing Accessories not 
Knitted or Crocheted 975,244 606,600        954,487  491,115 
63 Other Made up Textile Articles Sets, Worn 
Clothing and Worn Textile Articles Rags 10,921,617 10,818,510   14,679,179  11,315,550 
64 Footwear Gaiters and the Like Parts of Such 
Articles 3,589,995 3,586,312     5,240,458  2,000,319 
65 Headgear and Parts Thereof 59,031 100,566        154,692  45,315 
66 Umbrellas Sun Umbrella s Walking-Sticks Seat-
Sticks Whips Riding-Crops and Parts Thereof 314,787 147,571        405,388  174,034 
67 Prepared Feathers Down and Articles Made of 
Feathers or Down Artificial Flowers Articles of 
Human Hair 24,324 74,582          55,043  43,985 
68 Articles of Stone Plaste r Cement Asbestos Mica 
or Similar Materials 708,369 235,296        282,051  322,034 
69 Ceramic Products 2,253,687 2,388, 051     3,310,202  2,477,061 
70 Glass and Glassware 2,225,411 2, 382,517     2,328,138  2,725,049 
71 Natural or Cultured Pearls of Semi-Precious 
Stones Precious Metals Metal Clad with Precious 
Metals and Articles Thereof Imitation Jewellery 
Coin 13,864 10,641          20,190  4,734 
72 Iron and Steel 14,732,213 21,846, 562   23,330,047  14,254,223 
73 Articles of Iron or Steel 5,551,977  6,372,525   12,216,013  14,245,316  WT/ACC/LBR/3 
 Page 81 
 
 
  HS 
Chapter Product Description 2006 2007 2008 2009 
74 Copper and Articles Thereof 52,799 108,263        204,021  69,081 
75 Nickel and Articles Thereof 6,714 -            2,836  10 
76 Aluminium and Articles Thereof 860, 751 1,701,305     3,913,432  1,531,363 
78 Lead and Articles Thereof 23 -               395  - 
79 Zinc and Articles Thereof 14,349 7,390        127,454  4,614 
80 Tin and Articles Thereof 96,242 25,074          19,213  27 
81 Other Base Metals Cermet s Articles Thereof - 324            3,412  - 
82 Tools Implements Cutlery Spoons Forks of Base 
Metal and Parts of Base Metal     1,386,243 2,252,885     2,140,989  2,129,434 
83 Miscellaneous Articles of Ba se Metal     1,270,043 1,491,489     1,412,886  1,495,501 
84 Nuclear Reactors Boilers Machinery and 
Mechanical Appliances Parts Thereof     9,433,893 20,593,205   60,228,124  30,233,832 
85 Electrical Machinery Equipment and Parts 
Thereof Sound Recorders Reproducers Television 
Image Parts and Accessories of Such Articles   26,978,447 33,987,822   44,452,313  36,290,913 
86 Railway or Tramway Locomotives Rolling-Stock 
and Parts Thereof Railway Tramway Track Fixtures Fittings Mechanical Traffic Signalling 
Equipment - 17,699   10,481,665  12,601,572 
87 Vehicles Other Than Railway or Tramway 
Rolling-Stock Parts and Accessories Thereof   13,928,991 23,387,314 - 44,776,614 
89 Ships Boats and floating Structures           1,113 38,423          69,094  27,577 
90 Optical Photographic Cinematographic Measuring 
Checking Precision Medical Surgical Instruments 
Apparatus and Parts Thereof     5,586,340 816,345     1,229,177  1,840,854 
91 Clocks and Watches and Parts Thereof          71,740 82,469     1,379,591  82,517 
92 Musical Instruments Parts and Accessories of 
Such Articles         45,167 6,744        112,250  91,950 
93 Arms and Ammunition Parts and Accessories 
Thereof               154 399            2,680  12,642 
94 Furniture Bedding Mattresses Mattress Supports 
Cushions Similar Stuffed Lamps Lighting Fittings 
n.e.s. or Included Illumi nated Signs Name-Plates      2,252,674 2,911,992     6,890,213  7,898,685 
95 Toys games Sports Requisites Parts and 
Accessories Thereof        348,234 548,624        616,857  490,904 
96 Miscellaneous Manufactured Articles       547,921 695,477        666,987  905,292 
97 Works of Art Collectors Pieces and Antiques        142,829 77          10,859  3,751 
Source:  Customs. 
Table 28:  Liberia - Main Import Items by Value (2008)  
HS Code and Commodity Description CIF Value 
(US$) Share (%) 
96142000: Pipes and pipe bowls 117,747,189 11.8 
87032221: Four wheel drive vehicles 110,199,883 11.1 
87041000: Dumpers for off-highway use 83,370,197 8.4 
27100033: Regular petrol 80,647,491 8.1 
21061000: Protein concentrates and textured protein substances 26,149,050 2.6 
25231000: Cement clinkers 19,528,815 2.0 
85445900: Electric conductors for a voltage 80-10,00V without connectors 16,486,119 1.7 
73011000: Sheet piling 16,107,177 1.6 
21041090: Other, including Monosodium Glutamate 14,234,144 1.4 
87021020: Used passenger motor vehicles 14,081,684 1.4 
63090000: Worn clothing and other worn articles 11,652,044 1.2 
39012000: Polyethylene having a specific gravity >=0.94 in primary forms 10,787,375 1.1 
84295100: Self-propelled front-end shovel loaders 9,653,757 1.0 
10081000: Buckwheat 7,272,307 0.7 
11010000: Wheat or meslin flour 6,600,992 0.7 WT/ACC/LBR/3 
Page 82  
 
  HS Code and Commodity Description CIF Value 
(US$) Share (%) 
10064000: Broken rice 6,072,634 0.6 
94032000: Metal furniture nes (excl. seats) 5,468,673 0.6 
25232100: White portland cement 5,418,202 0.5 
86080000: Railway/tramway track fixtures/fitti ngs; mechanical signalling... 4,677,651 0.5 
84281000: Lifts and skip hoists 4,513,303 0.5 
24011000: Tobacco not ste mmed/stripped 4, 425,218 0.4 
07031000: Onions and shallots fresh or chilled 4,357,434 0.4 
90181900: Other (instruments and appliances used in medical. Surgical, dental 
or veterinary sciences) 4,204,542 0.4 
30059000: Other (wadding, gauze, bandages and similar articles) 4,175,353 0.4 
85021100: (of an output no t exceeding 75 KVA (Electric generating sets and 
rotary converters) 4,175,107 0.4 
94041000: Mattress Supports 4,111,364 0.4 
10062000: Husked (brown) rice 3,873,327 0.4 
40111000: Of a kind used on motor cars - including station wagons and racing 
cars (new rneumatic tyres, of rubber) 3,839,551 0.4 
30049000: Other medicaments of mixed or unmixed products for retail sale nes 3,754,064 0.4 
24022000: Cigarettes containi ng tobacco 3, 613,133 0.4 
Total top 30 Import items 611,197,777 61.5 
Source:  LISGIS. 
(iv) Imports from main supplies, preferably at a tariff line level 
Table 29: Main Import Partners (2008)  
Country of import origin Value of imports (US$) Share (%) of total imports 
EU     224,828,477 26.1 
         France       68,715,465 8.0 
         Belgium       43,133,786 5.0 
          Netherlands       42,002,955 4.9 
          UK       36,784,123 4.3 
          Spain       13,599,658 1.6 
          Germany       12,518,843 1.5 
           Sweden         8,073,649 0.9 
China       195,307,081 22.6 
U.S.A       93,035,176 10.8 
Switzerland        85,145,323 9.9 
Ivory Coast        41,403,514 4.8 
India        25,472,570 3.0 
United Arab Emirates        19,082,109 2.2 
Nigeria        16,233,708 1.9 
Benin        13,376,436 1.6 
Brazil        14,460,232 1.7 
Lebanon        11,883,032 1.4 
Malaysia        10,198,272 1.2 
Cameroun          8,914,554 1.0 
Turkey          7,882,293 0.9 
Top 20          767,222,777 89.0 
Others         95,077,930 11.0 
Total 862,300,707 100.0 
Source:  Customs.   WT/ACC/LBR/3 
 Page 83 
 
 
  Table 30:  Imports from China (2008)  
HS 
Chapter Product Description CIF Value 
(US$) 
01 Live animals 41,208 
02 Meat and Edible-Meat Offal 682,984 
03 Fish and Crustaceans Molluscs and Ot her Aquatic Invertebrates 25,412 
04 Dairy Produce Bird's Eggs Natural Honey Edible Products of Animal Origin n.e.s. 5,015,781 
06 Live Trees and Other Plants Bulbs Roots and the Like Cut Flower and Ornamental 
Foliage 13,444 
07 Edible Vegetables and Certain Roots and Tubers 716,916 
08 Edible Fruit and Nuts Peel of Citrus Fruit or Melons 211,805 
09 Coffee Tea Mate and Spices 219,907 
10 Cereals 8,118,039 
11 Products of the Milling Industry 41,844 
12 Oil Seeds and Oleaginous Fruits Miscellaneous Grains Seeds and Fruit Industrial or 
Medicinal Plants Straw and Fodder 160,613 
13 Lac Gums Resins and Other Vegetable Saps and Extracts 682 
14 Vegetable Plaiting Materials Vegetable Products n.e.s. or Included 25,247 
15 Animal or Vegetable Fats and Oils and Th eir Cleavage Products Pr epared Edible Fats 
Animal or Vegetable Waxes 92,708 
16 Preparations of Meat Fish Crustaceans Mollu scs or Other Aquatic Invertebrates 385,860 
17 Sugars and Sugar Confectionery 125,962 
18 Cocoa and Cocoa Preparations 243,622 
19 Preparations of Cereals Flour Starch or Milk Pastry cooks Products 1,244,702 
20 Preparations of Vegetables Fruit Nuts or Other Parts of Plants 608,173 
21 Miscellaneous Edible Preparations 13,796,733 
22 Beverages Spirits and Vinegar 125,642 
23 Residues and Waste from the Food Industries Prepared Animal Fodder 5,756 
24 Tobacco and Manufactured Tobacco Subst itutes 385,775 
25 Salt Sulphur Earths and Stone Plastering Materials Lime and Cement 19,716,962 
27 Mineral Fuels Mineral Oils and Products of their Distillation Bituminous Substances 
Mineral Waxes 5,173,526 
28 Inorganic Chemicals Organic or Inorganic Compounds of Precious or Rare-Earth 
Metals of Radioactive Elements or Isotopes 225,621 
29 Organic Chemicals 337,801 
30 Pharmaceutical Pr oducts 2,821,264 
31 Fertilizers 7,764 
32 Tanning or Dyeing Extracts Tannins and Their Derivatives Dyes Pigments and Other 
Colouring Matter Paints and Varnishes Putty and Other Mastics Inks 68,278 
33 Essential Oils and Resinoids Perfumery Cosmetic or Toilet Preparations 922,783 
34 Soap Organic Surface-Active Agents Wash ing Lubricating Preparations and Similar 
Artificial Prepared Waxes Polishing Sc ouring Preparation Candles Articles 
Modelling Pastes Dental Waxes 468,983 
35 Albuminoidal Substances Modified Starches Glues Enzymes 84,933 
36 Explosives Pyrotechnic Products Matches Pyrophoric Alloys Certain Combustible 
Preparations 12,753 
37 Photographic or Cinematographic Goods 12,651 
38 Miscellaneous Chemical Products 566,181 
39 Plastics and Articles Thereof 2,603,303 
40 Rubber and Articles Thereof 1,000,886 
42 Articles of Leather Saddlery Harness Travel Goods Handbags and Similar Containers 
Articles of Animal Gu 373,604 
44 Wood and Articles of Wood Charcoal 1,144,374 
45 Cork and Articles of Cork 716 WT/ACC/LBR/3 
Page 84  
 
  HS 
Chapter Product Description CIF Value 
(US$) 
46 Manufactures of Straw Esparto or Other Plaiting Materials Basket ware and 
Wickerwork 434 
47 Pulp of Wood or of Fibrous Cellulosic Material Recovered (Waste and Scrap) Paper 
or Paperboard 20,260 
48 Paper and Paperboard Articles of Paper Pulp Paper or Paperboard 2,439,443 
49 Printed Books Newspapers Pictures and Other Products of the Printing Industry 
Manuscripts Typescripts and Plans 57,872 
50 Silk 824 
51 Wool Fine or Coarse Animal Hair Horsehair Yarn and Woven Fabrics 28,665 
52 Cotton 434,284 
54 Man-made Filaments 167,515 
55 Man-made Staple Fibres 164,050 
56 Wadding Felt and Nonwovens Special Yarns Twine Cordage Ropes Cables and 
Articles Thereof 85,290 
57 Carpets and Other Textile Floor Coverings 38,504 
58 Special Woven Fabrics Tufted Textile Fabrics Lace Tapestries Trimmings 
Embroidery 5,923 
59 Impregnated Coated Covered or Lamina ted Fabrics Textile Articles of a Kind 
Suitable for Industrial Use 12,173 
60 Knitted or Crocheted Fabrics 4,572 
61 Articles of Apparel and Clothing A ccessories Knitted or Crocheted 482,943 
62 Articles of Apparel and Clothing Acces sories not Knitted or  Crocheted 366,923 
63 Other Made up Textile Articles Sets Worn Clothing and Worn Textile Articles Rags 365,541 
64 Footwear Gaiters and the Like Parts of Such Articles 2,598,259 
65 Headgear and Parts Thereof 38,076 
66 Umbrellas Sun Umbrellas Walking-Sticks Seat-Sticks Whips Riding-Crops and Parts 
Thereof 313,233 
67 Prepared Feathers Down and Articles Made  of Feathers or Down Artificial Flowers 
Articles of Human Hair 43,087 
68 Articles of Stone Plaster Cement Asbestos Mica or Similar Materials 189,060 
69 Ceramic Products 2,304,441 
70 Glass and Glassware 2,607,031 
71 Natural or Cultured Pearls of Semi-Preci ous Stones Precious Metals Metal Clad with 
Precious Metals and Articles Thereof Imitation Jewellery Coin 47,120 
72 Iron and Steel 5,441,224 
73 Articles of Iron or Steel 4,846,250 
74 Copper and Articles Thereof 17,141 
76 Aluminium and Articles Thereof 973,225 
78 Lead and Articles Thereof 5,096 
79 Zinc and Articles Thereof 63 
80 Tin and Articles Thereof 19,955 
81 Other Base Metals Cermets Articles Thereof 67,363 
82 Tools Implements Cutlery Spoons Forks of Base Metal and Parts of Base Metal 690,043 
83 Miscellaneous Articles of Base Metal 326,706 
84 Nuclear Reactors Boilers Machinery and Mech anical Appliances Pa rts Thereof 5,443,752 
85 Electrical Machinery Equi pment and Parts Thereof So und Recorders Reproducers 
Television Image Parts and Accessories of Such Articles 10,915,914 
86 Railway or Tramway Locomotives Rolling-Stock and Parts Thereof Railway 
Tramway Track Fixtures Fittings Mechanical Traffic Signalling Equipment 1,699 
87 Vehicles Other Than Railway or Tram way Rolling-Stock Part s and Accessories 
Thereof 4,122,852 
88 Aircraft Spacecraft and Parts Thereof 16,741 
89 Ships Boats and floating Structures 14,497  WT/ACC/LBR/3 
 Page 85 
 
 
  HS 
Chapter Product Description CIF Value 
(US$) 
90 Optical Photographic Cinematographic Measuring Checking Precision Medical 
Surgical Instruments Appa ratus and Parts Thereof 621,491 
91 Clocks and Watches and Parts Thereof 820,691 
92 Musical Instruments Parts and Acces sories of Such Articles 41,031 
93 Arms and Ammunition Parts and Accessories Thereof 4,765 
94 Furniture Bedding Mattresses Mattress Supports Cushions Similar Stuffed Lamps 
Lighting Fittings n.e.s. or Included Illuminated Signs Name-Plates and the Furnishings Like Pref abricated Buildings 2,067,359 
95 Toys games Sports Requisites Parts and Accessories Thereof 1,711,000 
96 Miscellaneous Manufactured Articles 545,735 
97 Works of Art Collectors Pieces and Antiques 72,857 
Source:  LISGIS. 
Table 31:  Imports from USA (2008)  
HS 
Chapter Product Description CIF Value 
(US$) 
01 Live animals 44,758 
02 Meat and Edible-Meat Offal 306,063 
03 Fish and Crustaceans Molluscs and Ot her Aquatic Invert ebrates 217,555 
04 Dairy Produce Bird's Eggs Natural Honey Edible Products of Animal Origin n.e.s. 505,245 
05 Products of Animal Origin n.e.s 369 
06 Live Trees and Other Plants Bulbs Roots and the Like Cut Flower and Ornamental 
Foliage 2,879 
07 Edible Vegetables and Certain Roots and Tubers 1,057,285 
08 Edible Fruit and Nuts Peel of Citrus Fruit or Melons 251,285 
09 Coffee Tea Mate and Spices 263,250 
10 Cereals 7,417,522 
11 Products of the Milling Industry 781,360 
12 Oil Seeds and Oleaginous Fruits Miscellaneous Grains Seeds and Fruit Industrial or 
Medicinal Plants Straw and Fodder 74,248 
13 Lac Gums Resins and Other Vegetable Saps and Extracts 1,466 
14 Vegetable Plaiting Materials Vegetable Products n.e.s. or Included 3,126 
15 Animal or Vegetable Fats and Oils and Th eir Cleavage Products Pr epared Edible Fats 
Animal or Vegetable Waxes 3,549,931 
16 Preparations of Meat Fish Crustaceans Mollu scs or Other Aquatic Invertebrates 142,443 
17 Sugars and Sugar Confectionery 441,646 
18 Cocoa and Cocoa Preparations 287,015 
19 Preparations of Cereals Flour Starch or Milk Pastry cooks Products 2,237,520 
20 Preparations of Vegetables Fruit Nuts or Other Parts of Plants 180,006,633 
21 Miscellaneous Edible Preparations 2,835,032 
22 Beverages Spirits and Vinegar 568,612 
23 Residues and Waste from the Food Industries Prepared Animal Fodder 51,300 
24 Tobacco and Manufactured Tobacco Subst itutes 663,525 
25 Salt Sulphur Earths and Stone Plastering Materials Lime and Cement 62,400 
26 Ores Slag and Ash 753 
27 Mineral Fuels Mineral Oils and Products of their Distillation Bituminous Substances 
Mineral Waxes 677,961 
28 Inorganic Chemicals Organic or Inorganic Compounds of Precious or Rare-Earth 
Metals of Radioactive Elements or Isotopes 650,817 
29 Organic Chemicals 196,449 
30 Pharmaceutical Pr oducts 2,530,728 
31 Fertilizers 206,675 WT/ACC/LBR/3 
Page 86  
 
  HS 
Chapter Product Description CIF Value 
(US$) 
32 Tanning or Dyeing Extracts Tannins and Their Derivatives Dyes Pigments and Other 
Colouring Matter Paints and Varnishes Putty and Other Mastics Inks 240,180 
33 Essential Oils and Resinoids Perfumery Co smetic or Toilet Preparations 1,653,191 
34 Soap Organic Surface-Active Agents Wash ing Lubricating Preparations and Similar 
Artificial Prepared Waxes Polishing Sc ouring Preparation Candles Articles 
Modelling Pastes Dental Waxes 345,207 
35 Albuminoidal Substances Modified Starches Glues Enzymes 90,888 
36 Explosives Pyrotechnic Products Matches Pyrophoric Alloys Certain Combustible 
Preparations 8,651 
37 Photographic or Cinematographic Goods 598 
38 Miscellaneous Chemical Products 1,979,289 
39 Plastics and Articles Thereof 3,886,152 
40 Rubber and Articles Thereof 959,079 
41 Raw Hides Skins Leather Fur skins and Articles Thereof Saddlery Harness Travel 
Handbags and Similar Containers Articles of Animal Gut 3,067 
42 Articles of Leather Saddlery Harness Travel Goods Handbags and Similar Containers 
Articles of Animal Gu 208,358 
43 Fur skins and Artificial Fur Manufactures Thereof 2,239,825 
44 Wood and Articles of Wood Charcoal 260,178 
45 Cork and Articles of Cork 3,176 
46 Manufactures of Straw Esparto or Other Plaiting Materials Basket ware and 
Wickerwork 830 
47 Pulp of Wood or of Fibrous Cellulosic Material Recovered (Waste and Scrap) Paper 
or Paperboard 15,070 
48 Paper and Paperboard Articles of Paper Pulp Paper or Paperboard 665,037 
49 Printed Books Newspapers Pictures and Other Products of the Printing Industry 
Manuscripts Typescripts and Plans 784,377 
50 Silk 2,082 
52 Cotton 8,582 
53 Other Vegetable Textile Fibres Paper Ya rn and Woven Fabrics of Paper Yarn 242 
54 Man-made Filaments 52,819 
55 Man-made Staple Fibres 12,606 
56 Wadding Felt and Nonwovens Special Yarns Twine Cordage Ropes Cables and 
Articles Thereof 143,297 
57 Carpets and Other Textile Floor Coverings 37,384 
58 Special Woven Fabrics Tufted Textile Fabrics Lace Tapestries Trimmings 
Embroidery 6,133 
59 Impregnated Coated Covered or Lamina ted Fabrics Textile Articles of a Kind 
Suitable for Industrial Use 2,962 
60 Knitted or Crocheted Fabrics 68 
61 Articles of Apparel and Clothing A ccessories Knitted or Crocheted 282,342 
62 Articles of Apparel and Clothing Acces sories not Knitted or  Crocheted 245,400 
63 Other Made up Textile Articles Sets Worn Clothing and Worn Textile Articles Rags 7,623,496 
64 Footwear Gaiters and the Like Parts of Such Articles 344,676 
65 Headgear and Parts Thereof 338,964 
66 Umbrellas Sun Umbrellas Walking-Sticks Seat-Sticks Whips Riding-Crops and Parts 
Thereof 1,665 
67 Prepared Feathers Down and Articles Made  of Feathers or Down Artificial Flowers 
Articles of Human Hair 61,019 
68 Articles of Stone Plaster Cement Asbestos Mica or Similar Materials 186,355 
69 Ceramic Products 222,894 
70 Glass and Glassware 550,110 
71 Natural or Cultured Pearls of Semi-Preci ous Stones Precious Metals Metal Clad with 
Precious Metals and Articles Thereof Imitation Jewellery Coin 6,226  WT/ACC/LBR/3 
 Page 87 
 
 
  HS 
Chapter Product Description CIF Value 
(US$) 
72 Iron and Steel 16,755,316 
73 Articles of Iron or Steel 6,471,686 
74 Copper and Articles Thereof 737,077 
76 Aluminium and Articles Thereof 370,877 
78 Lead and Articles Thereof 120 
79 Zinc and Articles Thereof 8,521 
80 Tin and Articles Thereof 16,898 
81 Other Base Metals Cermets Articles Thereof 12,030 
82 Tools Implements Cutlery Spoons Forks of Base Metal and Parts of Base Metal 666,178 
83 Miscellaneous Articles of Base Metal 66,436 
84 Nuclear Reactors Boilers Machinery and Mech anical Appliances Pa rts Thereof 203,030 
85 Electrical Machinery Equi pment and Parts Thereof So und Recorders Reproducers 
Television Image Parts and Accessories of Such Articles 2,986,111 
86 Railway or Tramway Locomotives Rolling-Stock and Parts Thereof Railway 
Tramway Track Fixtures Fittings Mechanical Traffic Signalling Equipment 4,806,561 
87 Vehicles Other Than Railway or Tram way Rolling-Stock Part s and Accessories 
Thereof 108,125,702 
88 Aircraft Spacecraft and Parts Thereof 1,378 
89 Ships Boats and floating Structures 189,557 
90 Optical Photographic Cinematographic Measuring Checking Precision Medical 
Surgical Instruments Appa ratus and Parts Thereof 685,556 
91 Clocks and Watches and Parts Thereof 28,364 
92 Musical Instruments Parts and Acces sories of Such Articles 25,590 
93 Arms and Ammunition Parts and Accessories Thereof 15,165 
94 Furniture Bedding Mattresses Mattress Supports Cushions Similar Stuffed Lamps 
Lighting Fittings n.e.s. or Included Illuminated Signs Name-Plates and the 
Furnishings Like Pref abricated Buildings 4,825,165 
95 Toys games Sports Requisites Parts and Accessories Thereof 333,067 
96 Miscellaneous Manufactured Articles 202,472 
97 Works of Art Collectors Pi eces and Antique s 2,087,056 
Source:  LISGIS. 
Table 32:  Imports from Switzerland (2008)  
HS 
Chapter Product Description CIF Value 
(US$) 
4 Dairy Produce Bird's Eggs Natural Honey Edible  Products of Animal Origin n.e.s. 16,911 
7 Edible Vegetables and Certain Roots and Tubers 149,712 
10 Cereals 4,272 
11 Products of the Milling Industry 626,176 
19 Preparations of Cereals Flour Starch or Milk Pastry cooks Products 1,835 
20 Preparations of Vegetables Fruit Nuts or Other Parts of Plants 100,626 
26 Ores Slag and Ash 71,009 
27 Mineral Fuels Mineral Oils and Products of  their Distillation Bituminous Substances  7 
28 Inorganic Chemicals Organic or Inorganic Compounds of Precious or Rare-Earth 
Metals of Radioactive Elements or Isotopes 26,535 
30 Pharmaceutical Pr oducts 199,801 
34 Soap Organic Surface-Active Agents Wash ing Lubricating Preparations and Similar 
Artificial Prepared Waxes Polishing Sc ouring Preparation Candles Articles 
Modelling Pastes Denta 9,482 
35 Albuminoidal Substances Modified Starches Glues Enzymes 7,407 
39 Plastics and Articles Thereof 68 
40 Rubber and Articles Thereof 43,761 WT/ACC/LBR/3 
Page 88  
 
  HS 
Chapter Product Description CIF Value 
(US$) 
42 Articles of Leather Saddlery Harness Travel Goods Handbags and Similar Containers 
Articles of Animal Gu 699,412 
48 Paper and Paperboard Articles of Paper Pulp Paper or Paperboard 34,406 
49 Printed Books Newspapers Pictures and Other Products of the Printing Industry 
Manuscripts Typescripts and Plans 36,951 
53 Other Vegetable Textile Fibres Paper Yarn  and Woven Fabrics of Paper Yarn 14,374 
55 Man-made Staple Fibres 20 
56 Wadding Felt and Nonwovens Special Yarns Twine Cordage Ropes Cables and 
Articles Thereof 55,813 
57 Carpets and Other Textile Floor Coverings 6,051 
58 Special Woven Fabrics Tufted Textile Fabrics Lace Tapestries Trimmings 
Embroidery 192 
61 Articles of Apparel and Clothing Accessories Knitted or Crocheted 288 
62 Articles of Apparel and Clothing Acces sories not Knitted or Crocheted 7,051 
63 Other Made up Textile Articles Sets Worn Clothing and Worn Textile Articles Rags 24,772 
64 Footwear Gaiters and the Like Parts of Such Articles 4,623 
68 Articles of Stone Plaster Cement Asbestos Mica or Similar Materials 34 
73 Articles of Iron or Steel 187 
74 Copper and Articles Thereof 221 
76 Aluminium and Articles Thereof 43,229 
82 Tools Implements Cutlery Spoons Forks of Base Metal and Parts of Base Metal 109,037 
83 Miscellaneous Articles of Base Metal 119 
84 Nuclear Reactors Boilers Machinery and Mech anical Appliances Pa rts Thereof 299,262 
85 Electrical Machinery Equi pment and Parts Thereof So und Recorders Reproducers 
Television Image Parts and Accessories of Such Articles 18,882 
87 Vehicles Other Than Railway or Tram way Rolling-Stock Part s and Accessories 
Thereof 987,636 
90 Optical Photographic Cinematographic Measuring Checking Precision Medical 
Surgical Instruments Appa ratus and Parts Thereof 46,521 
94 Furniture Bedding Mattresses Mattress Supports Cushions Similar Stuffed Lamps 
Lighting Fittings n.e.s. or Included Illuminated Signs Name-Plates and the 
Furnishings Like Pref abricated Buildings 2,876 
95 Toys games Sports Requisites Parts and Accessories Thereof 12,469 
96 Miscellaneous Manufactured Articles 16 
Source:  LISGIS. 
 
Table 33: Imports from France (2008)  
HS 
Chapter Product Description CIF Value 
(US$) 
1 Live animals 63 
2 Meat and Edible-Meat Offal 455,586 
3 Fish and Crustaceans Molluscs and Other Aquatic Inve rtebrates 3,735 
4 Dairy Produce Bird's Eggs Natural Honey Edible  Products of Animal Origin n.e.s. 147,052 
7 Edible Vegetables and Certain Roots and Tubers 443,443 
8 Edible Fruit and Nuts Peel of Citrus Fruit or Melons 49,432 
9 Coffee Tea Mate and Spices 1,936,870 
10 Cereals 178 
11 Products of the Milling Industry 141,229 
12 Oil Seeds and Oleaginous Fruits Miscellaneous Grains Seeds and Fruit Industrial or 
Medicinal Plants Straw and Fodder 152 
14 Vegetable Plaiting Materials Vegetable Products n.e.s. or Included 184 
15 Animal or Vegetable Fats and Oils and Th eir Cleavage Products Pr epared Edible Fats 
Animal or Vegetable Waxes 982  WT/ACC/LBR/3 
 Page 89 
 
 
  HS 
Chapter Product Description CIF Value 
(US$) 
16 Preparations of Meat Fish Crustaceans Mollu scs or Other Aquatic Invertebrates 23,970 
17 Sugars and Sugar Confectionery 2,900 
18 Cocoa and Cocoa Preparations 5,728 
19 Preparations of Cereals Flour Starch or Milk Pastry cooks Products 107,676 
20 Preparations of Vegetables Fruit Nuts or Other Parts of Plants 825,817 
21 Miscellaneous Edible Preparations 444,028 
22 Beverages Spirits and Vinegar 338,590 
23 Residues and Waste from the Food Industries Prepared Animal Fodder 1,439 
25 Salt Sulphur Earths and Stone Plastering Materials Lime and Cement 39,505 
28 Inorganic Chemicals Organic or Inorganic Compounds of Precious or Rare-Earth 
Metals of Radioactive Elements or Isotopes 400,980 
29 Organic Chemicals 193,973 
30 Pharmaceutical Pr oducts 136,196 
32 Tanning or Dyeing Extracts Tannins and Their Derivatives Dyes Pigments and Other 
Colouring Matter Paints and Varnishes Putty and Other Mastics Inks 40 
33 Essential Oils and Resinoids Perfumery Cosmetic or Toilet Preparations 57,916 
34 Soap Organic Surface-Active Agents Wash ing Lubricating Preparations and Similar 
Artificial Prepared Waxes Polishing Sc ouring Preparation Candles Articles 
Modelling Pastes Dental Waxes 18,175 
35 Albuminoidal Substances Modified Starches Glues Enzymes 450 
38 Miscellaneous Chemical Products 35,603 
39 Plastics and Articles Thereof 158,683 
40 Rubber and Articles Thereof 174,790 
42 Articles of Leather Saddlery Harness Travel Goods Handbags and Similar Containers 
Articles of Animal Gu 3,712 
44 Wood and Articles of Wood Charcoal 594 
46 Manufactures of Straw Esparto or Other Plaiting Materials Basket ware and 
Wickerwork 39,623 
48 Paper and Paperboard Articles of Paper Pulp Paper or Paperboard 38,613 
49 Printed Books Newspapers Pictures and Other Products of the Printing Industry 
Manuscripts Typescripts and Plans 62,120 
56 Wadding Felt and Nonwovens Special Yarns Twine Cordage Ropes Cables and 
Articles Thereof 49,492 
58 Special Woven Fabrics Tufted Textile Fabrics Lace Tapestries Trimmings 
Embroidery 457 
59 Impregnated Coated Covered or Lamina ted Fabrics Textile Articles of a Kind 
Suitable for Industrial Use 600 
60 Knitted or Crocheted Fabrics 609 
61 Articles of Apparel and Clothing A ccessories Knitted or Crocheted 12,136 
62 Articles of Apparel and Clothing Acces sories not Knitted or Crocheted 4,459 
63 Other Made up Textile Articles Sets Worn Clothing and Worn Textile Articles Rags 410,863 
64 Footwear Gaiters and the Like Parts of Such Articles 26,825 
68 Articles of Stone Plaster Cement Asbestos Mica or Similar Materials 36 
69 Ceramic Products 607 
70 Glass and Glassware 1,996 
71 Natural or Cultured Pearls of Semi-Preci ous Stones Precious Metals Metal Clad with 
Precious Metals and Articles Thereof Imitation Jewellery Coin 75 
76 Articles of Iron or Steel 1,653 
73 Aluminium and Articles Thereof 251 
81 Other Base Metals Cermets Articles Thereof 5,796 
82 Tools Implements Cutlery Spoons Forks of Base Metal and Parts of Base Metal 98,384 
83 Miscellaneous Articles of Base Metal 11,463 
84 Nuclear Reactors Boilers Machinery and Mechan ical Appliances Parts Thereof 25,683,009 WT/ACC/LBR/3 
Page 90  
 
  HS 
Chapter Product Description CIF Value 
(US$) 
85 Electrical Machinery Equi pment and Parts Thereof So und Recorders Reproducers 
Television Image Parts and Accessories of Such Articles 541,043 
86 Railway or Tramway Locomotives Rolling-Stock and Parts Thereof Railway 
Tramway Track Fixtures Fittings Mechanical Traffic Signalling Equipment 148,345 
87 Vehicles Other Than Railway or Tram way Rolling-Stock Part s and Accessories 
Thereof 2,699,566 
89 Ships Boats and floating Structures 1,075 
92 Musical Instruments Parts and Accessories of Such Articles 97 
93 Arms and Ammunition Parts and Accessories Thereof 39 
94 Furniture Bedding Mattresses Mattress Supports Cushions Similar Stuffed Lamps 
Lighting Fittings n.e.s. or Included Illuminated Signs Name-Plates and the 
Furnishings Like Pref abricated Buildings 93,315 
95 Toys games Sports Requisites Parts and Accessories Thereof 123,088 
96 Miscellaneous Manufactured Articles 6,554 
Source:  LISGIS. 
(v) Trade by geographic areas (main trade partners) 
Table 34:  Trade with North America (2008, US$)  
Region/Country Total Trade Share Domestic Exports Domestic Imports 
North America (Total ) 148,560,036 16.4 55,109,145 93,450,892 
USA 147,905,503 16.3 54,870,328 93,035,176 
Mexico 415,716 0.0 - 415,716 
Canada 238,817 0.0 238,817 - 
Other countries 832,838,578 83.6 63,988,763 768,849,815 
All countries (Total) 981,398,614 100.0 119,097,907 862,300,707 
Source:  Customs. 
Table 35: Trade with Europe (2008, US$)  
Region/Country Total trade Share Liberia Exports Liberia Imports 
European Union (total) 299,569,376 30.5 59,841,050 239,728,326 
Belgium 99,762,573 10.2 56,628,787 43,133,786 
France 68,715,465 7.0  68,715,465 
Netherlands 42,275,449 4.3 272,494 42,002,955 
United Kingdom 37,064,623 3.8 280,500 36,784,123 
Spain 15,573,133 1.6 1,973,475 13,599,658 
Germany 13,173,564 1.3 654,721 12,518,843 
Sweden 8,084,971 0.8 11,322 8,073,649 
Denmark 6,741,855 0.7 - 6,741,855 
Italy 2,865,441 0.3 - 2,865,441 
Poland 1,079,148 0.1 - 1,079,148 
Finland  1,335,117 0.1 - 1,335,117 
Malta 636,727 0.1 - 636,727 
Ireland 585,201 0.1 - 585,201 
Other EU 1,664,787 0.2 8,429 1,656,358 
Other Europe 95,413,241 9.7 - 95,413,241 
Switzerland 85,145,323 8.7 - 85,145,323 
Turkey 7,882,293 0.8 - 7,882,293 
Croatia 1,843,661 0.2 - 1,843,661 
Other Countries 586,415,997 59.8 - 527,159,140 
All countries (Total) 981,398,614 100.0 119,097,907 862,300,707 
Source:  Customs.  WT/ACC/LBR/3 
 Page 91 
 
 
  Table 36:  Trade with Asia (2008, US$)  
Region/Country Total trade Share Liberia Exports Liberia Imports 
Total Asia 290,314,165 29.6 2,308,040 285,743,444 
China 195,964,263 20.0 657,182 195,307,081 
India 25,883,770 2.6 411,200 25,472,570 
United Arab Emirates 20,189,034 2.1 1,106,925 19,082,109 
Lebanon 11,888,032 1.2 5,000 11,883,032 
Malaysia 10,326,006 1.1 127,734 10,198,272 
Indonesia 7,288,173 0.7 - 7,288,173 
Thailand 4,531,134 0.5 - 4,531,134 
Japan 3,392,219 0.3 - 3,392,219 
Singapore 2,494,095 0.3 - 2,494,095 
Other Asia 8,357,440 0.9 - 8,357,440 
Other countries 691,084,449 70.2 116,789,867 574,294,582 
All countries (Total) 981,398,614 100.0 119,097,907 862,300,707 
Source:  Customs. 
 
Table 37:  Trade with South America (2008, US$)  
Region/Country Total trade Share Liberia Exports Liberia Imports 
South America (Total) 21,114,630 2.2 - 21,114,630 
Brazil 14,460,232 1.5 - 14,460,232 
Argentina 2,920,512 0.3 - 2,920,512 
Chile 1,461,398 0.1 - 1,461,398 
Peru 1,019,150 0.1 - 1,019,150 
Colombia 712,802 0.1 - 712,802 
Mexico 415,716 0.0 - 415,716 
Cuba 124,821 0.0 - 124,821 
Other countries 960,283,984 97.8 - 841,186,077 
All countries (Total) 981,398,614 100.0 119,097,907 862,300,707 
Source:  Customs.  
Table 38: Trade with Africa (2008, US$)  
Region/Country Total trade Share Liberia Exports Liberia Imports 
Total Africa 111,648,779 11.4 2,591,762 109,057,017 
Total ECOWAS 95,772,606 9.8 1,186,776 94,585,830 
Ivory Coast 41,526,447 4.2 122,933 41,403,514 
Nigeria 16,247,427 1.7 13,718 16,233,708 
Benin 13,381,412 1.4 4,977 13,376,436 
Cameroon 8,914,554 0.9 - 8,914,554 
Ghana 5,570,991 0.6 533,130 5,037,861 
Gambia 3,946,293 0.4 97,200 3,849,093 
Guinea 4,198,322 0.4 381,019 3,817,303 
Senegal 1,310,584 0.1 - 1,310,584 
Togo 360,103 0.0 - 360,103 
Sierra Leone 278,266 0.0 33,800 244,466 
Mali 38,207 0.0 - 38,207 
Morocco 4,593,320 0.5 - 4,593,320 
South Africa 3,264,714 0.3 - 3,264,714 
Other Africa 6,831,364 0.7 184,460 6,613,154 
Other countries 869,749,835 88.6 116,506,145 753,243,689 
All Countries (Total) 981,398,614 100.0 119,097,907 862,300,707 
Source:  Customs. WT/ACC/LBR/3 
Page 92  
 
  (c) Government procurement statistics 
This information is not available. 
  WT/ACC/LBR/3 
 Page 93 
 
 
  ANNEX 2 
LIST OF LAWS AND LEGAL ACTS  
1. Laws and legal acts regulating the activity of the customs authorities:  
− The Customs Revenue Code Liberia Act of 2000; 
− An Act to amend certain provisions of the Revenue Code of Liberia Act 2000 and 
Harmonized Description and Coding system of  the Customs Tariff Schedules.  Approved 
24 July 2007; and 
− Customs Revenue Code and Harmonized Descriptio n and Coding System of Customs Tariff 
Schedules of Liberia. 
2. Laws and legal acts relating to non-tariff regul ation of imports, exports and trade in transit, 
rules of origin: 
− The Customs Revenue Code Liberia Act of 2000; 
− An Act to amend an Act amending certain pr ovisions of the Revenue and Finance Law of 
1977, as amended.  Approved 17 March 1999; and 
− Economic Stimulus Taxation Ac t of 2009 (an Act Amending th e Liberia Revenue Code of 
2000 of the Republic of Liberia).  
3. Laws and regulations rela ting to foreign investment:  
− National Investment Commission Act of 2009 (An Act Amending the National Investment 
Commission Act of 1979 of the Republic of Liberia; 
− The Investment Act of 2009; 
− An Act Amending the Investment Incentive C ode of the Republic of Liberia. (Approved 
6 March 1973). Published by MF A, 28 February 1975; and 
− Economic Stimulus Taxation Act of 2009. (An Act Amending th e Liberia Revenue Code of 
2000 of the Republic of Liberia). 
4. Other laws and legal acts dealing with economic issues that affect trade:  
− Property Law (Title 29); 
− Labour Law (Title 18); 
− Associations Law (Title 5) . Approved 19 May 1976; 
− General Business Law (Title 14). Approved 27 June 1973.  Published 8 September 1978; 
− An Act to amend the General Business Law with  respect to Business Regulations.  Approved 
6 May 1975; 
− Natural Resources Law (Title 23); 
− An Act to Amend Chapter 12 of the Genera l Business Law with respect to Business 
Regulations.  Approved 27 October 1998; 
− Industrial Property Act of Libe ria. Approved 30 March 2003; 
− An Act Adopting a New Copyright Law of the Re public of Liberia. Approved 30 July 1997; 
− An Act establishing the Liberia Extractive Industr ies and Transparency Initiative (LEITHI).  
Approved 10 July 2009; 
− An Act to Establish the Land Co mmission. Approved 4 August 2009; 
− An Act Adopting the New Petroleum Law of the Republic of Liberia; and 
− An Act Creating the Public Procurement and Concessions Commission, 21 September 2005. WT/ACC/LBR/3 
Page 94  
 
  5(a)  Existing, laws, regulations or administra tive guidelines which significantly affect trade in 
services: 
− An Act to Amend the Public Authorities Law Creating the Liberia Telecommunications 
Corporation and the Executive Law Creating the Ministry of Posts and Telecommunications, and to establish and interim framework for telecommunications regulation. Approved 
5 September 2005; 
− National Telecommunications/ICT Policy. Mi nistry of Posts and Telecommunications, 
February 2009; 
− Telecommunications Act 2007; 
− Transportation and Communication Act of 2005; 
− Financial Institutions Act (Banki ng Law) – Title 6.  Approved 18  June 1974.  Effective with 
amendments through 22 April 1984; 
− Financial Institutions Act of 1999; 
− Insurance Law (Title 16); 
− Liberia National Insurance Commission Act 2010. (Draft bill); 
− General Construction Law (Title 15); 
− Maritime Law (Title 21); 
− An Act to Incorporate the Liberian Chamber of Architects; 
− An Act to Amend the Judiciary Law with resp ect to the Admission of Lawyers to the Bar, 
3 May 1972; 
− Act Incorporating the Institute of Certified P ublic Accountants of Liberia, 12 January 1933; 
− An Act to Amend The Executive Law, Title 12 of  The Liberian Code of Laws Revised to 
Create A Ministry of Transport Within The Ex ecutive Branch of Government and to Further 
Amend, Create Provisions of the New Executive Law to Provide for the Detachment and Transfer of Certain Bureaux within the Ministries of Government. 25 August 1987; 
− An Act Creating the Liberia Water and Sewer Corporation, 30 January 1973; 
− An Act to Amend the Executive Law to Create th e Department of Information and Cultural 
Affairs, 1965; 
− Decree by the Peoples Redemption Council of the Ar med Forces of the Republic of Liberia to 
amend Chapter 87 of the Public Authority' s law establishing the Liberia Broadcasting 
Corporation and establishing the Liberia Broadcasting System, 1980; 
− An Act Creating the Bureau of Maritime A ffairs, 17 September 1973.  Revised 1986; 
− An act providing for the registration and control of pleasure watercraft, yacht, fishing vessels, 
and domestic commercial vessels operating in and ou tside the territorial waters of Liberia. 
An Act to Amend Chapter 11 of Title 22  of the Liberian Code of Laws 1956; 
− Act Creating and Establishing the Liberian Medical Board for Nursing and Midwifery; 
− Liberian Medical and Dental Council Act, 6 April 2009; and 
− Education Law, 2001. 
5(b) Publications or sources of information, c oncerning measures of general application, of 
relevance to the GATS: 
 Not available due to capacity constraints. 
5(c) Enquiry points, if any, as foreseen in Article III of GATS:  There is no formal enquiry point as in the GATS sense but the Ministry of Commerce and 
Industry is the appropriate office for seeking in formation on trade-related issues, including 
services regulations and trade.   WT/ACC/LBR/3 
 Page 95 
 
 
  Director of Foreign Trade 
Ministry of Commerce and Industry P. O. Box 9041 Ashmun and Gurley Streets Monrovia, Liberia 
Tel. No.:  + 231 6 514 557 
Web:  www.moci.gov.lr WT/ACC/LBR/3 
Page 96  
 
  ANNEX 3 
INFORMATION ON IMPORT LICENSING PROCEDURES
 
Not applicable.  Liberia does not have import licensing procedures.  WT/ACC/LBR/3 
 Page 97 
 
 
  ANNEX 4 
INFORMATION ON IMPLEMENTATION AND ADMINISTRATION OF THE CUSTOMS 
VALUATION AGREEMENT1 
Not applicable.  Liberia follows the Brussels Defi nition of Value (BDV) for customs valuation.  
 
                                                      
    1Previously circulated as VAL/2/Rev.2. WT/ACC/LBR/3 
Page 98  
 
  ANNEX 5 
INFORMATION ON TECHNICAL BARRIERS TO TRADE
 
1. Description of relevant laws, regulations , administrative orders, etc., relating to 
implementation and administration of technical barriers to trade  
Liberia does not currently have a TBT enquiry point in the sense of the WTO Agreement on 
Technical Barriers to Trade.  Furthermore, the capacity of the GOL to develop and implement 
technical regulations and procedures is very limited.  There are two agencies or offices that have a trade-related role in ensuring that technical/saf ety regulations are enforced at the border.  
The Ministry of Agriculture deals with the import and export of animal and plant life and enforces 
sanitary and phytosanitary regulations.  The En vironmental Protection Agency oversees the import 
and export of banned or controlle d chemical or hazardous substan ces and guards against trade in 
endangered species. 
The Director  
National Quarantine and Environmental Services,  Ministry of Agriculture  
P.O. Box 10-9010 
19th Street Sinkor, 1000 Monrovia 10 Republic of Liberia 
The Executive Director 
Environmental Protection Agency of Liberia 4th Street, Tubman Boulevard, Sinkor 
P.O. Box 4024 
1000 Monrovia Republic of Liberia 
Web: www.epa.gov.lr 
 
  WT/ACC/LBR/3 
 Page 99 
 
 
  ANNEX 6 
INFORMATION ON STATE-TRADING  
Definition of State-Trading1 
Governmental and non-governmental enterprises, including marketing boards, which have been 
granted exclusive or special rights or privileges, including statutory or constitutional powers, in the 
exercise of which they influence through their purch ases or sales the level or direction of imports or 
exports. 
I. ENUMERATION OF STATE-TRADING ENTERPRISES 
Liberia has three enterprises covered by the provi sions of Article XVII. The enterprises and the 
products for which they have special privileges include: 
State Enterprise Products it has special privileges in 
Liberia Produce Marketing Corporation 
(LPMC)  All the important export agricultural products for Liberia 
Specifically:  
- palm kernels; 
- cocoa; - palm oil,  
- coffee;  
- cassava; - copra; and  
- rubber, 
Liberia Petroleum Refinery Company (LPRC) Petroleum and Petroleum products 
Liberia Cement Corporation (CEMENCO) 
 Cement, lime, clinker, plasters, whiting, clay, gravel, sand, 
minerals, earth, coke, fuel, artificial stones and builders 
 
II.  REASON AND PURPOSE FOR INTRODUCING AND MAINTAINING STATE-
TRADING ENTERPRISES 
1. All the important export agricultural products for Liberia especially palm kernels, cocoa, 
palm oil, coffee, cassava, copra, a nd rubber are controlled by the LPMC. 
The reason and purpose for introducing and maintain ing LPMC was to facilitate export sales of all the 
important agricultural export products for Liberia. The above products have been the key agricultural 
export products for the country. 
- The legal provisions for the LPMC  
LPMC was established as a public corporation in 19 61, under the Liberian corporation law of 1951. 
According to its articles of incorporation, the gove rnment shares then constituted a third of the total 
corporation shares, but currently, the corporatio n is 100 per cent solely owned by the Liberia 
Government.  According to the articles of incorpor ation, the corporation has the monopoly in pricing 
and marketing among other functions for all the important export agricu ltural products for Liberia. Its 
mandates include:  
                                                      
    1c.f. Understanding on the Interpretation of Article XVI I of the General Agreement on Tariffs and Trade 1994. WT/ACC/LBR/3 
Page 100  
 
  − Fixing prices and setting standards for the purposes of sale of palm kernels, cocoa, palm oil, 
coffee, cassava and others produce exported from Liberia, including:  copra and rubber.  The 
corporation was also responsible for the dissemination of the fixed prices; 
− To employ or acquire agricultural specialists  to disseminate information to producers; 
− To establish and organize centres through which it could facilitate (through provision of 
machinery and equipment) processing or ha ndling of produce derivatives before produce 
export; 
− To acquire, maintain or operate, improve and se ll, lease or otherwise dispose of lands or any 
property in or outside Liberia which may be  necessary in operation of the corporations 
business; 
− To carry out the business of warehousing, in cluding issuing of warehouse receipts and 
making advances or loans; 
− To provide advisory, investigatory, supervisor y and any other services related to promotion of 
production, sale or any other dispos ition of the above mentioned products; 
− To borrow or raise money for any of the purposes of the corporation; 
− To purchase and export products and produce derivatives and to operate and maintain 
factories for the production of all produce derivatives or products mentioned above; 
− To import machineries, gunny bags and other implements and instruments that may be 
required in connection with th e corporation business; and 
− To obtain concessions, make, develop and maintain  plantations of the above products or their 
produce derivatives. 
2.  Petroleum and Petroleum products  The reason and purpose for introducing and main taining Liberia Petroleum Refinery Company 
(LPRC) is to prevent prices to consumers from exceeding certain maximum limits. 
- Legal provisions for LPRC
 
LPRC was incorporated in 1978 as a state-owne d limited liability Company under the Business 
Associations Law of Liberia.  The Company is sole ly owned by the Government of Liberia.  An Act 
Granting Exclusive Rights to the Liberia Petroleum Refining Company (LPRC) for the Importation, Sale and Distribution of Petroleum and Petroleum Products within the Republic of Liberia (1989), 
gave the company the monopoly for importation, sale and distribution of petroleum products in the 
country.  The Act also gave the LPRC the rights to designate its suppliers and enter into exclusive 
supply agreements with any foreign or domestic cor poration, upon the approval of the President of 
Liberia.  
3. Cement, lime, clinker, plasters, whiting, cl ay, gravel, sand, minerals, earth, coke, fuel, 
artificial stones and builders 
Reasons and purposes for introducing and maintaining CEMECO are: 
− To protect domestic producers by the control of imports; and 
− To make it possible to establish or administer a stabilization arrangement.  
- Legal provisions for CEMENCO
 
The Corporation was established in 1966 in line with the provisions of Title 4 of the Liberia code of 
Laws.  When established, the shares of the gove rnment accounted for about 35 per cent of the 
corporation shares.  Currently government shares account for about 26.6 per cent.  According to  WT/ACC/LBR/3 
 Page 101 
 
 
  CEMENCO's Articles of incorporation, the cor poration's general trading nature of business 
transactions (among others) include: 
− To Engage in, participate or invest in, promot e, develop, manage and operate as principal or 
agent all of the businesses of producers, impor ters, exporters, manufacturers of and dealers 
and workers in cement, lime, clinker, plasters, whiting, clay, gravel, sand, minerals, earth, 
coke, fuel, artificial stones and builders, requisites and conveniences of all kinds and 
engineers, ship, barge, lighter and truck owne rs, quarry owners, builder s, general contractors 
and carriers; 
− To manufacture, produce, distribute, buy, sell, im port, export, deal in and engage in conduct 
and carry on the business of manufacturing, buyin g, selling, producing and dealing in cement 
related products; and 
− To engage in any other manufacture of mercantile business of any kind or characteristic. 
III.  DESCRIPTION OF THE FUNCTIONING OF STATE-TRADING ENTERPRISES 
- Functioning of LPMC  
Although the mandate of the LPMC is wide, the corpor ation traditional areas of concentration have 
been on facilitation of exports of cocoa and coffee.   It operated well until the 1980's, the onset of the 
liberalization period, when its specific functions were reduced to those of a regulatory body and 
licensing businesses which are involved in the purchase and export of cocoa and coffee.  There is little 
processing and standards oversight being provided by the corporation currently due to lack of 
resources and limited capacity.  
The condition for licensing private exporters of cocoa and coffee is that they must be registered 
business with the MoCI under Liberia business regist ration laws.  Private exporters licensed by the 
corporation can export as much as they wish.  LPMC does not export, so there is no competition 
between the corporation and the private exporters of cocoa and coffee.  There are no criteria to 
determine the quantities to be expor ted, exporters can export as much as they wish.  The corporation 
does not determine export prices and is not invol ved in contract arrangements and negotiations. 
- Functioning of LPRC  
LPRC deals with import, refining and distribution of petroleum in Liberia.  Although the Company 
has had the monopoly to undertake these functions, due  to capacity and financial limitations, the 
functions were never well executed,  the refinery for example has been out of commission since 1982, 
long before the commencement of the civil conflict in  the country.  Since 1983, the country has been 
importing petroleum products and fuels rather than crude oil, with LPRC function being that of a 
purchaser and storage.  By 1988, the financial bur dens of the enterprise became too great and the 
importation of fuels and products was placed in the hands of a private firm, the Liberia National 
Petroleum Company (LNPC). 
Institutional changes since 2006 have led to the scra pping of the oil refining function and reduction of 
the functions of the company, leaving it with the responsibility of negotiating and purchasing requisite 
volumes of petroleum products and lubricants, offloading and storing them, and signing leases with wholesalers for onward sales throughout the country.  The company also has the authority to issue 
import licenses for petroleum products and lubricants .  The Company can either franchise out the 
products or sell these at wholesale and retail levels .  There are currently several large and small 
vendors licensed to distribute petroleum products and lubricants throughout the country.  
The company in consultation with the MoCI has been setting wholesale and retail ceiling prices for 
fuels and petroleum products. WT/ACC/LBR/3 
Page 102  
 
  Private traders are allowed to import, store and di stribute petroleum or petroleum products in Liberia 
on conditions that they have been licensed by  the LPRC and have signed petroleum importation 
agreement.  The terms of the importation agreements are: 
− The importer shall import, supply and deliver  mixed refined petroleum products at the 
minimum of not less than 3,000 M/tons per shipment on the Liberian Market and shall 
maintain a minimum stock of not less than 500 M/tons in storage at all times as strategic 
reserve; 
− The importer shall pay to LPRC the amount of US$0.20 for every gallon delivered into the 
tanks of LPRC; and 
− The importer to whom a franchise is grante d shall pay a non-refundable franchise fee of 
US$5,000, prior to the signing of the formal petroleum products import agreement.  
Currently, it is the private traders who are impor ting petroleum products as LPRC is not importing, 
there is therefore no competition betw een LPRC and the private traders. 
There are no clearly developed criteria for dete rmining the quantities to be imported. LPRC in 
consultation with the MoCI set wholesale and re tail ceiling prices for the imported petroleum 
products.  The company does not negotiate long-term contracts.  
- Functioning of CEMENCO
 
CEMENCO deals with imports of cement, lime, clinker, plasters, whiting, clay, gravel, sand, 
minerals, earth, coke, fuel, artificial stones and bu ilders.  The company has remained the only cement 
producing company in Liberia.  The company imports 30 per cent of all its cement sells as finished products and produces 70 per cent using importe d raw materials (as cement clinkers).  
The government of Liberia in its efforts to en courage domestic cement production discouraged 
imports of finished cement through a protective ta riff of US$2 for 50kg bag on Portland cement (tariff 
number 25.23 of HS code) implemente d under the Country's Revenue Code. 
Private traders can import, export or trade in the above products provided that they are registered 
businesses in Liberia and have obtained import or  export permit from the MoCI.  There is free 
competition between private traders and CEME NCO, and the government from time to time 
intervenes in the cement market through Executive Orders, to specif ically encourage competition in 
the market (and therefore lower the price of cement) by suspending the protective tariff. 
There are no established criteria for determining the quantities to be e xported and imported.  There is 
no requirement or specification on determination of  mark-up for imported products.  Resale prices of 
imports are the same as those with the domestic pr ices. CEMENCO does not enter into or negotiate 
contracts. 
IV. STATISTICAL INFORMATION 
Statistical information by quantity and value of imports, exports and national production on the 
products notified of the three state trading enterprises is not available. 
V. REASONS WHY NO FOREIGN TRADE HAS TAKEN PLACE (IF THIS IS THE 
CASE) IN PRODUCTS AFFECTED 
In all the products mentioned, foreign trade has been taking place.  WT/ACC/LBR/3 
 Page 103 
 
 
  VI. ADDITIONAL INFORMATION 
1. All the important agricultural export products for Liberia Specifically Palm kernels, cocoa, 
palm oil, coffee, cassava, copra, and rubber (LPMC). 
The functions of LPMC have been limited to fac ilitation of exports of cocoa and coffee, and have 
recently been reduced to licensing of exporters of these two products. There is little processing and 
standards insurance being provided by the corporatio n currently due to lack of resources and limited 
capacity although exporters have to pay a fee of  US$50/tonne per export for the processing and 
standards insurance services.  
According to the Presidential speech of January 2010,  the Ministry of Finance is currently reassessing 
fees that are paid by exporters (including those paid to the LPMC) and the services they receive, 
because such fees tend to reduce re turns to exporters and farmers.  The current agricultural policy has 
also called for the repeal of policy especially to remove the monopoly with respect to marketing of 
agricultural products granted to LPMC.  
2. Petroleum products (LPRC)  With respect to the functions of LPRC, there ar e recommendations by the National Energy Policy of 
2009 to amend the Act giving the LPRC monopoly status  so as to limit the company's monopoly role 
in: 
− Overseeing:  (i) the physical importation of petroleum products and lubricants; (ii) the 
requisite offloading and handling facilities at the port (including all pipelines); (iii) the 
ownership of storage tanks and other ancillary f acilities; (iv) the further offloading onto trucks 
for wholesale distribution; and (v) responsibilit y for meeting all safety and environmental 
laws, rules, regulations on any of the above activities; 
− Regulatory aspects: the recommendations include th e transfer to the Energy Regulatory Board 
(ERB) all regulatory oversight of petroleum pr oduct and lubricant quality, regulation of all 
tank cars moving such products and monitoring of  retail outlets to ensure quality standards 
and proper calibration of pumps; 
− Rescinding of LPRC's right to issue import licens es and transfer of this authority to the 
Inter-Ministerial Committee chaired by the MLME , which will be responsible for establishing 
transparent licensing criteria, with LPRC serving as technical advisor as required; and 
− Scrapping of LPRC's old refinery and allowing private investors to explore investment 
opportunities for construction of a new refinery focused on exports.  WT/ACC/LBR/3 
Page 104  
 
  ANNEX 7 
SERVICES SECTORAL CLASSIFICATION
 
Horizontal Regulations with limitations or restrictions 
- Land holding  
Although only Liberians of African descent are allowed to own land in Liberia, land is made available 
to foreigners through leases.  The Property Law (T itle 29) provides for Liberian citizens to lease land 
to foreign businesspersons for periods of 21, 25, 35,  40 or 50 years subject to various conditions.  In 
all instances there is an option for renewal for a further period.  Plans and specifications for the 
development of such leased land must be submitted to the Ministry of Public Works for assessing that 
the investment meets the conditions stipulated in  the Property Law before construction activities are 
undertaken. 
The Act to Establish the Land Commission (app roved 4 August 2009) provides for the Land 
Commission to "propose legislation and to supervise its drafting, including amendments to the Constitution, as it may consider neces sary." (Section 3.2). It is also mandated to consider and make 
recommendations, inter alia , on:  
− Rights in real property, and the extent of security in those rights; 
− Public land management, sale and leasing; 
− Organization and regulation of private professions  of importance to the land sector, such as 
surveyors and valuers; and 
− Markets in land and rights in land. 
- Work Permits
 
Under Section 1507, sub-section 1(1) of the Labour La w of Liberia all aliens (foreigners) must obtain 
work permits from the Ministry of Labour as a pre-c ondition for employment or work in Liberia.  All 
work permits are valid for one year from the date of issuance and are reviewed annually, with the 
Ministry of Labour reserving the right not to renew a work permit.  The Division of Alien 
Registration and Liberianization of the Ministry of  Labour is responsible for registration, processing 
and issuance of work permits.  Aliens are classifi ed into three categories:  Non-African aliens:  
Non-ECOWAS aliens; and ECOWAS aliens.  The Di vision issues three types of work permits:  
Regular, Gratis and ECOWAS.  Ministry of La bour Regulation No. 17 of 2009 stipulates the 
following categories of work permits:  Category A – for all aliens who seek employment in the formal 
sector - US$1,000; Category B – ECOWAS citizens who seek employment in the informal sector – 
US$100; and Category C – non-ECOWAS African who seek employment in the informal sector – US$200. 
- Specific Limitations or Restrictions
 
This Annex provides summaries of the mandatory  sector-specific qualification requirements for 
services providers in the services sectors and s ubsectors described in the MTN.GNS/W/120 sectoral 
classification list.  For the major services sectors, such as tourism, financial services and communication services, descriptions of the sector and subsectors are also provided in the main body of this report.  WT/ACC/LBR/3 
 Page 105 
 
 
  I. BUSINESS SERVICES 
1. Professional Services  
Table A7.1 - Qualification Requirements:  Professional Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Legal services  
 (CPC 861) Liberia National 
Bar Association   The Act to Amend the Judiciary Law with respect to the Admission of 
Lawyers to the Bar (1972) provides that, for a person to practice law in 
Liberia, he/she must have  the following requirements: 
 
- Be a Liberian;  
- A graduate from a recognized Law School; 
- Admitted to the National Bar Association; 
- Must be licensed.  Every Second Monday in March of  each year, all 
practicing lawyers and law firms must obtain annual licenses to 
practice law and to operate a law firm.  After this date no lawyer who 
has not obtained his/her annual licence  for the year shall be permitted 
to practice before any Court, or be fore any administrative tribunal, or 
any agency of government directly or indirectly nor a lawyer who has 
not paid his/her annual dues to the Liberian National Bar Association 
up to the second Monday in March of each year be permitted to 
practice before any court of the Republic of Liberia.  
 
The Judges of the Courts may requi re exhibition and registration of 
evidence showing compliance with  these above stated rules.  
 
No person shall be admitted as a C ounsellor of the Supreme Court, unless 
he/she shall have been a practicing Attorney for a period of at least 3 years 
prior to his/her application for ad mission, and shall be of good moral 
standing, the same to be evidenced by the Certificate of at least 2 members 
of the Bar of the Supreme Court.  No Attorney-At-Law shall be permitted to 
practice law before the Supreme C ourt without sitting and passing the 
Supreme Court Bar Examination. 
(b) Accounting, 
auditing and 
bookkeeping 
services  
 (CPC 862) Liberia Institute 
of Certified 
Public 
Accountants 
(LICPA) 
 
Professional 
Licensing Board, 
Ministry of 
Education. 
 
 The General Business Law of 1973 require s that all accountants be licensed. 
Candidates must be:  (i ) more than 21 years old; (ii) of good moral 
character; to apply for a licence to practise public accountancy, the person 
must have completed a 4 year high sc hool course and either has graduated 
from a school of accounting or from a business administration school or 
college with a major in accountancy approved by the Professional Licensing 
Board, or, has at least 3 years of pr actical experience in accountancy or a 
grade and character satisfactory to the Board.  The annual licence fee must 
also be paid.  
 
The Act Incorporating the Institute of  Certified Public Accountants of 
Liberia (12 January 1933) was enacted for the purpose of providing a 
special organization for Public Accountan ts and others desirous of adopting 
the profession, and those who are not  professional Accountants but are 
sometimes called upon to certify audits and prepare trading profit and loss 
account and balance sheets. The role of the Liberia Institute of Certified 
Public Accountants is (LICPA) to crea te, regulate and prot ect the interest 
and status of its members, admitting onl y those who are well qualified in the 
profession and with public experience and practice for more than five years.  
 
That members of the LICPA must pay on annual licence each before they 
are entitled to practice as such. All Public documents shall be signed by all 
members of the LICPA as "Certified Public Accountants". WT/ACC/LBR/3 
Page 106  
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
(d)  Architectural 
services  
 (CPC 8671) Liberian Chamber 
of Architects The General Business Law of 1973 requires that all architects be licensed. 
Candidates must be:  (i ) more than 21 years old; (ii) of good moral 
character; (iii) a graduate of a school of architecture either in Liberia or 
abroad approved by the Professional Licensing Board as maintaining 
satisfactory standards; and he must have at least 1 year of practical 
experience in architectural work satisfactory to the Board.  The annual licence fee must also be paid.  
 
The Act Incorporating the Liberian Chambers of Architects provides that 
this entity shall have authority to contract, sue and be sued, plead and 
answer plea in any Court of Liberia having competent jurisdiction. The 
Liberian Chamber of Architects wa s established to engage in the 
development, advancement, generation, design, specification and 
construction of buildings, alleys, str eets, physical development planning, 
survey, supervise and advise contractors who build or develop buildings, 
streets, roads, alleys, and city planning to create technically and 
professionally and economically the de signs of interiors of any and all 
buildings under construction, to advise  and supervise, landscaping, to coach 
and to represent clients in matt ers concerning the planning and 
implementation of the projects in conne ction with all rele vant matters as 
well as the supervision of all and any projects in the Architectural world.  
(e)  Engineering 
services  
 (CPC 8672) 
(f)  Integrated 
engineering 
services  
 (CPC 8673) (g) Urban planning 
and landscape 
architectural 
services  
 (CPC 8674) Professional 
Engineer's Board  The General Business Law of 1973 require s that all engineers be licensed. 
Candidates must be: (i) more than 21 year s old; (ii) of good moral character; 
(iii) a graduate of a school of engin eering either in Liberia or abroad 
approved by the Professional Licensi ng Board as maintaining satisfactory 
standards; and he must have at least 1 year of practical experience in 
engineering work satisfactory to the Board.  The annual licence fee must 
also be paid.  
(h) Medical and 
dental services  
 (CPC 9312) Liberia Medical 
Board 
 
Liberia Medical 
and Dental 
Council   The Liberian Medical and Dental Council Act of 6 April 2009 provides that 
the membership of the Liberian Medi cal and Dental Counc il shall be open 
to Liberian physicians and surgeons  practicing within the Republic of 
Liberia. Individuals serving on the C ouncil in non-statutory positions shall 
be nominated by the execu tive Council of the Libe rian Medical and Dental 
Association (LIMDA), including past Presidents; and those nominated 
individuals shall be appr oved during a general meeting of the Association.  
 
Categories of Medical professionals under the jurisdiction of the Council 
and are directly answerable to the council include:  Physicians, General 
Surgeons, Surgeons, in all surgical sub-specialties, Dental surgeons, 
ophthalmologists, Radiologist s, pathologist, Anaesthe siologists, veterinary 
surgeons, and other allied medical pr actitioners (e.g. physician Assistants, 
Laboratory and X-ray technicians) etc.  
 
Practitioners who have obtained certifi cates as to qualification and are in 
good standing with the Liberian Medical and Dent al Council; and 
practitioners who prior to the effective date of this chapter, have actively 
engaged in the practice of medicine and dentistry in Liberia, by virtue of 
licence issued after their qualification or have been re-examined and passed 
upon by the Liberian Medical and Dent al Council and Certificate issued 
thereon, or those who are required to be licensed under provisions of this 
sub-chapter, these individuals shall c ontinue to practice such professions 
and licenses issued them in conformity with, but subject to the provision of 
section 61.6 of the Act on or before th e renewal date of the annual licence 
registration for the practice of Medicine and dentistry after the active date of 
this chapter.   WT/ACC/LBR/3 
 Page 107 
 
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
  To be qualified for licence by the Li berian Medical Council, the candidate 
should be at least 21 years of age and mu st be a graduate of an accredited 
Medical or Dental or veterinary school, or other related professional school. 
The candidate must present an inte rnship certificate from a recognized 
teaching hospital or present evidence of  previous licensure.  The candidate 
shall preferably have a working knowle dge in Tropical Medicine.  He/she 
must be fluent in the use of the E nglish language and should satisfactorily 
pass an examination administered by the Liberian Medical Council.  The 
candidate must also provide evidence of having no criminal conviction. 
Persons who hold a Fellowship of th e West African Health Community, 
provided there are reciprocity arrangement  with his/her country and Liberia, 
and graduates of the A.M. Dogliottis College of medicines shall be eligible 
to be licensed.  
 
1.  Permanent licence:  issued to qualified, individuals who are of 
Liberian citizens, natural born or na turalized, and; spouse of Liberian 
citizens; 
2.  Temporary licence:  issued to (a) Foreigners who are graduates of 
foreign medical college and are c itizens of countries that have 
reciprocity arrangements with Li beria; (b) A foreigner who is a 
graduate of the Medical college, University of Liberia, or other 
Medical Colleges that may exist and who has fulfilled the 
requirements of the Liberian Medi cal Council; (c) Physicians and 
surgeons of the West African Hea lth Community provided there exists 
a reciprocity arrangement between the Country of the applicant and 
Liberia; 
3.  Limited licence: may be issued to qualified, foreign individuals who 
are:  (a) Doctors of voluntary agenci es; (b) Bilateral relations doctors; 
(c) Contractual/ Concession Doctors,  (d) Foreign medical advisors to 
the government of Liberia; and 
4.  Limited permit:  This special permit is granted to Doctors rendering 
voluntary services in designated institutions for a period of not more 
than 3 months.  
 
Private medical practice - All Liberi ans who are graduates of recognized 
Medical Schools shall be eligible for private practice after 2 years of post-
internship experience in recognized Me dical institu tions.  All expatriate 
doctors wishing to engage in privat e practice shall only do so with a 
Liberian accredited institution established by a Liberian.  He/she must be in good professional and moral standing be fore applying to the council for a 
permit to associate with other private practitioners.  Appr oval is subject to 
report of conduct during the previous years of practice, and at the 
association of the Council.   
(i) Veterinary 
services  
 (CPC 932) Liberia Medical 
Board/Liberia 
Medical and 
Dental Council  Under the Liberian Medical and Dental  Council Act only a person licensed 
or otherwise authorized can practice ve terinary medicine and only a person 
licensed to practice shall use the title "veterinarian".  To qualify for a 
licence to practice veterinary medicine, an applicant shall file an application 
with the Minister and submit evidence th at the applicant:  (a) is 21 years of 
age or older; (b) is of good moral character; (c) has graduated with a 
doctoral degree in Veterinary medi cine from a School of Veterinary 
medicine either in Liberia or abroad which school is approved by the 
Liberian Medical Board as maintaining satisfactory standards; (d) has had at 
least 1 year of experience in the pract ice of veterinary me dicine satisfactory 
to the Liberian Medical Board as an intern or licensed practitioner.  
 
When deemed appropriate for all prosp ective applicants, that the applicant 
has passed a written examination prepared and administered by the Liberian 
Medical Board. WT/ACC/LBR/3 
Page 108  
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
(j) Services provided 
by midwives, 
nurses, 
physiotherapists 
and paramedical 
personnel  
 (CPC 93191)  Liberian Board 
for Nursing and 
Midwifery  
 The Act Creating and Establishing  the Liberian Medical Board for Nursing 
and Midwifery provides that only a pers on licensed or otherwise authorized 
shall practice midwifery, limited however to the capacity licensed in such 
special category and under the provisions of section 61.3 or section 66.5 or 
66.6 shall use the title "Registere d Nurse Midwife" and only a person 
licensed in such special category under the provisions of section 61.3 or 
section 66.7 or 66.8 shall use the title "Traditional Birth Attendant".  
 
Requirements for initial licence as a Certified midwife:  except for 
applications made under section 66.6 registered nurse midwives legally 
qualified in foreign countries, to qualify fo r an initial licence as a registered 
nurse midwife, an applicant shall file an application with the Minister and 
submit evidence as to the following matte rs:  (a) The applicant is 20 years of 
age or older and of good moral character; (b) That the applicant is a 
Registered professional Nurse who is also licensed under the provision of 
chapter 65 or under section 61.3 and has graduated within 2 years prior to 
the date of application from a school givi ng a complete course in midwifery, 
either in Liberia or abroad, which school  is approved by the Liberian Board 
for Nursing and midwifery as ma intaining satisfactory standard. 
 
Only a person licensed or otherwise authorized shall practice nursing, 
limited however to the capacity license d or authorized  and only a person 
licensed in such special category shall use the title "registered nurse" and 
only a person licensed in such special category under section 65.8 shall use 
the title:  Licensed practical nurse.  
 
Requirements for an initial licence as registered professional nurse:  
 
 Except for applications made un der section 65.6 by a professional 
nurse legally qualified in foreign countries, to qualify for an initial 
licence as a registered Professional nurse, an applicant shall file an 
application with the Minister and submit evidence as to the following 
matters:  
 
 - That applicant must be 20 years of age or older and of good moral 
character. 
 - That the applicant has completed a course of study and holds 
Diploma or Degree in professional nursing from a school of 
Nursing either in Liberia or abroad, which school is approved by the Liberian Board of Nursing and Midwifery as maintaining 
satisfactory standard; and 
 - That the applicant has passed a written examinations prepared and 
administered by the Liberian Board of Nursing and midwifery. 
 
4. Real Estate Services 
Table A7.2 - Qualification Requirements:  Real Estate Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Involving own or 
leased property  
 (CPC 821) 
(b) On a fee or 
contract basis  
 (CPC 822) National 
Investment 
Commission  
  
Ministry of Public 
Works  Under the Constitution, only Liberian citizens are permitted to own land.  
 
This has implications for participation in real estate development and 
domestic property manage ment agencies.   
  WT/ACC/LBR/3 
 Page 109 
 
 
  5. Renal/Leasing Services without Operators  
Table A7.3 - Qualification Requirements:  Rental/Leasing Services (without Operators)  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Relating to ships 
 (CPC 83103) 
 Bureau of 
Maritime Affairs  Under the Liberian Maritime Law of 1956,  a citizen or national of Liberia 
desiring to obtain provisional Liberia registration under this Title for a 
vessel which such citizen or national possesses by demise character, and 
which in all respects other than ownership complies with the requirements 
of sub-chapter 1 of this chapter, must cause the charter party to be duly 
recorded in books to be kept for that purpose and indexed to show.   
(b) Relating to 
aircraft  
 (CPC 83104) 
 Liberia Civil  
Aviation 
Authority  Under the Civil Aviation Safety Act, it is unlawful to operate a civil aircraft 
in Liberia unless it is registered in Li beria or is registered under the laws of 
a foreign country.  An aircraft shall be eligible for registration if and only if 
it is not registered in a foreign count ry and unless otherwise permitted by 
regulations. An aircraft can be operated by citizens of Liberia, a partnership 
that is not a citizen of Liberia or mi xed.  The government of Liberia or a 
body incorporated under the Laws of Li beria.  Only a qualified and licensed 
individual or entity can operate aircraft in Liberia.      
(c) Relating to other 
transport 
equipment  
 (CPC 83101 and 
83102)   Ministry of 
Internal Affairs  The Transportation and Communication Act of 2005 provides that none but 
Liberian citizens (whether  individuals, private, corporations, municipal or 
tribal authority) may acquire and enjoy the privilege of operating ferries on 
the waters of the Republic of Liberia.  In granting an application for a ferry, 
franchise, preference shall be given to the applicant residing nearest the 
proposed ferry crossing.  
(d) Relating to other 
machinery and 
equipment 
 (CPC 83106 and 
83109)  Ministry of 
Transport 
 
Used Cars 
Dealers 
Association  Under the General Business Law of Libe ria, it is an exclusive right for 
Liberians.  Only citizens of Liberia may own and operate used cars business 
or qualified persons (resident domes tic entities which are owned 100%, both 
legally and equitably.  
 
6. Other Business Services  
Table A7. 4 - Qualification Requirements: Other Business Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Advertising 
services  
 (CPC 871) 
 National 
Investment 
Commission  Under the Investment Act of 2009, fo reign investors may invest in the 
advertising sector provided that where such of the listed enterprises is 
owned exclusively by non-Liberians, the total Capital invested shall not be 
less than US$500,000; and, where such of the listed enterprises is owned by 
non-Liberians in partnership with Liberians and the aggregate shareholding 
of the Liberians is at least 25%, the total Capital invested shall not be less 
than US$300,000.  
(r) Printing, 
publishing  
 (CPC 88442)  Foreign investors may invest in this sector provided that where such of the 
listed enterprises is owned exclusivel y by non-Liberians, the total Capital 
invested shall not be less than US$500, 000; and, where such of the listed 
enterprises is owned by non-Liberians in partnership with Liberians and the 
aggregate shareholding of the Liberians is at least 25%, the total Capital 
invested shall not be less than US$300,000.  
(s) Convention 
services  
 (CPC 87909**)   
(t) Other None. None. 
 WT/ACC/LBR/3 
Page 110  
 
   
II. COMMUNICATION SERVICES 
1. Postal Services (CPC Code 7511) 
Table A7. 5 - Qualification Requirements:  Postal Services
 
Type of Service/ 
CPC Code Authority Qualification Requirements 
Postal services  
(CPC 7511) Postmaster 
General Postal services are provided solely by the Postmaster General 
 
2. Courier Services (CPC Code 7512) 
Table A7. 6 - Qualification Requirements:  Courier Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
Courier services  
(CPC 7512) Ministry of Posts and Telecommunications. 
There are no small courier services in Liberia.  DHL, 
Federal Express and UPS are the primary 
international courier service providers.   None except normal requirements for 
operation of a business. 
 
3. Telecommunication Services 
Table A7. 7 - Qualification Requirements:  Telecommunication Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Voice telephone 
services  
 (CPC 7521) 
(b) Packet-switched 
data 
transmission services  
 (CPC 7523**) 
(c) Circuit-switched 
data 
transmission 
services  
 (CPC 7523**) 
(d) Telex services  
 (CPC 7523**) 
(e) Telegraph 
services  
 (CPC 7522) 
(f) Facsimile 
services  
 (CPC 7521** 
+7529**) 
(g) Private leased 
circuit services  
 (CPC 7522** 
+7523**) 
(h) Electronic mail  
 (CPC 7523**) Ministry of Post and 
Telecommunications 
  
Liberia 
Telecommunication 
Authority  Under the Liberian Telecommuni cation Corporation Act and the 
Executive Law creating the Ministry of Post and Telecommunication 
provides that the following specific pro cedures are for fee setting: prior to 
setting any licence or authorization fee, the body shall publish its 
proposed fees, formula or methodolog y for consultation in accordance;  
 Requirement to hold transitional licenses and transitional authorization:  
 
(a)  Any person operating a public co mmunication network or providing 
a public communication se rvices in the interim period shall require 
and obtain a transitional licence; 
(b)  Any person using radio frequenci es in connection with operating a 
public telecommunications ne twork or providing a public 
telecommunication service shall requi re and obtain an authorization 
allowing the use of those radio fre quencies. All such users shall be 
subject to and comply with any di rections or other issues by the 
regulatory authority regarding Radi o frequencies interference or the 
Management of Radio Freque ncy spectrum resources; and 
(c)  Any other operator of teleco mmunication networks or provider of 
telecommunication services may be subject to such other licensing 
or Radio frequency spectrum authorization requirements as are 
identified by the regulatory authority acting in accordance with 
Section 4(C) and the other provisions of this Act.        WT/ACC/LBR/3 
 Page 111 
 
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
(i) Voice mail  
 (CPC 7523****) 
(j) On-line 
information and 
data base 
retrieval  
 (CPC 7523**) 
(k) Electronic data 
interchange 
(EDI)  
 (CPC 7523**) 
(l) Enhanced/value-
added facsimile 
services, incl. 
store and 
forward, store 
and retrieve  
 (CPC 7523**) 
(m) Code and 
protocol 
conversion (n.a) 
(n) On-line 
information 
and/or data 
processing (incl. 
transaction 
processing)  
 (CPC 843**) 
(o) Other (includes 
air-to-ground 
and maritime 
mobile 
communications 
services in 
subclass) 
 (CPC 75299)   
The (**) indicates that the service specified constitutes only a part of the total range of activities covered by the CPC 
concordance (e.g. voice mail is only a component of item CPC 7523). 
4. Audio-visual Services  
(a) Motion picture and video tape production and distribution services (CPC Code 9611) 
Table A7. 8 - Qualification Requirements: Audio-Visual Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
(a) Motion picture 
and video tape 
production and 
distribution 
services   
 (CPC 9611) Information not available. 
There are very limited local 
motion picture production 
facilities in Liberia.  The making 
of all motion picture and 
television productions requires 
the prior approval of the 
Minister of Information, Culture 
and Tourism. Information not available WT/ACC/LBR/3 
Page 112  
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
(b) Motion picture 
projection 
service  
 (CPC 9612) Minister of Information, Culture 
and Tourism. Under the Investment Act of 2009, foreign investors may 
invest in this sector provided that where such of the listed 
enterprises is owned exclusively by non-Liberians, the total 
Capital invested shall not be less than US$500,000; and, 
where such of the listed enterprises is owned by non-Liberians 
in partnership with Liberians and the aggregate shareholding of the Liberians is at least 25%, the total Capital invested shall 
not be less than US$300,000.  
(c) Radio and 
television 
services  
 (CPC 9613) 
(d) Radio and 
television 
transmission 
services  
 (CPC 7524) Minister of Information, Culture 
and Tourism. Information not available 
(e) Sound recording  
 (CPC code n.a.)   
 
IV. DISTRIBUTION SERVICES 
Table A7. 9 - Qualification Requirements:  Distribution Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
1.  Commission 
agents' services  
 (CPC 621) Ministry of Commerce and 
Industry  Only Liberian citizens are permitted to provide this service in 
export/import trade. 
2.  Wholesale trade 
services  
 (CPC 622) Ministry of Commerce and 
Industry  
3.  Retailing 
services  
 (CPC 631+ 632+ 
6111+ 6113+ 
6121) Ministry of Commerce and 
Industry Only Liberian citizens may participate in retail sale of: rice 
and cement; timber and planks; s econd-hand or used clothing; 
locally manufactured products; used cars; and auto service 
operations with investment s of less than US$50,000. 
4.  Franchising  
 (CPC 8929) Ministry of Commerce and 
Industry  There is no legislation governing this activity. 
5.  Other   
 
V. EDUCATIONAL SERVICES 
Table A7.10 - Qualification Requirements:  Educational Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
1.  Primary 
education 
services  
 (CPC 921) 
2.  Secondary 
education 
services  
 (CPC 922) Minister of Education 
 Under the Education Law of 2001, all institutions set up for 
purposes of primary education wh ether public or private, shall 
comply with the Education Law, and the policies and 
regulations of the Ministry of Education (MOE).  Such 
schools amongst other requiremen ts, shall have a governing 
body, Board, Parents Teachers  Associations (P.T.A), or 
Committee which shall include parents, Community Leaders, 
Teachers and a Representative of the Local School  WT/ACC/LBR/3 
 Page 113 
 
 
  Type of Service/ 
CPC Code Authority Qualification Requirements 
3.  Higher education 
services  
 (CPC 923) 
4.  Adult education  
 (CPC 924)  Management Committee ( LSMC ).  The Administrative, 
Instructional and Support Staffing of such schools shall be in 
accordance with the numbers and qualifications provided by 
laws and regulations.  The curric ular of primary education as 
specified by the MOE shall include "CORE" areas such as: 
Mathematics, English Language, History, Social Studies, and 
Elementary or Basic Science.  
 
Private schools must be licensed in order to operate. 
5.  Other education 
services  
 (CPC 929*) Minister of Education 
 Under the Education Law of 2001, Vocational and technical 
education is a programme se t up by the Government of 
Liberia for specific programme  implementation and it is 
intended to attract "Specialist" Teachers and Special Students, 
as well as encourage and enhance the professional 
participation of female Teacher s into specialized Secondary 
Technical, Vocational and Science Education.  
 
The Government shall review, promote and strengthen 
Science and Technology Education at Teachers Training 
College (TTC) and College levels  by support to laboratories, 
equipment, facilities and staffing including those related to 
Agriculture, mining, ma rine and communication 
(Informatics). 
 
VI. ENVIRONMENTAL SERVICES 
Table A7.11 - Qualification Requirements: Environmental Services  
Type of Service/ 
CPC Code Authority Qualification Requirements 
1.  Sewerage 
services  
 (CPC 9401) 
2.  Refuse disposal 
services  
 (CPC 9402) 
3.  Sanitation and 
similar services  
 (CPC 9403) Liberia Water and Sewer 
Corporation  
 
 
Environmental Protection 
Agency ( EPA)  
 
The Environmental Protection 
Agency (EPA) oversees 
management, control and 
conservation of the environment. 
The Liberia Water and Sewer 
Corporation is a public 
corporation owned by the 
Government of Liberia, which 
protects water resources, 
regulates the extraction, use and 
supply of water, disposes of 
sewerage and grants and controls 
water rights.  It exclusively 
provides water and sewerage 
services. The Act Creating the Liberia Water and Sewer Corporation 
(1973) provides that the responsibility of the Corporation to 
engage in  the management, developments, construction, 
installation, manufacture, operation, transmission, 
distribution, sale and supply to all areas of water and sewage 
services and of equipment and facilities relating thereto. And 
to manufacture, import, buy, sell, install, collect, generally 
deal in water and sewage services and to manufacture, buy 
and deal in all materials used in connection with the aforesaid 
services. Also to engage in and conduct studies and 
experiments with a view to im proving the suitability of water 
and sewage facilities and implement to local conditions.  
 
Under the National Environmen tal policy of Liberia, all 
wastes should be disposed of in  a way that will not adversely 
affect the environment.  The government of Liberia is 
committed to a clean and healthy environment by protecting 
its territory against all forms of pollutions, air, water, coastal, 
industrial and land. A clean environment is a necessary 
condition for social and economic development properly 
planned and implemented sewage /affluent social management 
and sanitation is a recipe for long life.    
 
Table A7.12 – IX.  TOURISM AND TRAVEL RELATED SERVICES  
1. Hotels and Restaurants (incl. Catering) (CPC Codes 641, 642, 643) 
No special licensing regime exists  for this sector except annual registration with the Bureau of 
Tourism. WT/ACC/LBR/3 
Page 114  
 
  2. Travel Agencies and Tour Operators (CPC Code 7471) 
No special licensing regime exists  for this sector except annual registration with the Bureau of 
Tourism. Tours and excursions must give 20 days not ice to the Bureau of Tourism and are in principle 
supposed to be supervised by the National Tourism Office. 
3. Tourist Guide Services (CPC Code 7472) 
There are no mandatory qualification requirements fo r tourist guides. Freelance tour guides must be 
registered with the Bureau of Tourism and possess a clearance or certificate for an annual registration 
fee of L$3,000. 
Table A7.13 – X.  RECREATIONAL, CULTURAL AND SPORTING SERVICES 
 
(other than audio-visual services)  
Under the General Business Law, only Liberian  citizens shall exclusively own and operate 
entertainment centres or qualified persons (reside nt domestic entities which are owned 100 per cent 
by Liberian citizens both legally and equitably.  Th e Investment Act of 2009 also set a threshold of at 
least US$500,000 for foreign investment in Ente rtainment centres not connected with a hotel 
establishment.  
Table A7.14 – XI.  TRANSPORT SERVICES  
1. Maritime Transport (CPC Codes 7211-7214, 8868 and 745) 
- General  
Liberia is an important maritime nation due to its  long history of operating a ship registry.  The 
Freeport of Monrovia plays a key role in the Libe rian economy.  The Liberia Maritime Programme 
was launched in 1948.  Liberia's Ship Registry is one of the world's largest in terms of gross registered 
tonnage.  
As a Port State and a Flag State, Liberia, through th e Bureau of Maritime Affa irs, is responsible for 
ensuring that vessels entering its ports and flying its  flag are properly registered in compliance with 
requirements and standards as set by the Interna tional Maritime Organizations (IMO) Conventions, 
Treaties, Protocols and/or Regulations. 
- Vessel Registration  
In March 2009, the Bureau reached an agreement wi th its Agent, Liberia International Shipping and 
Corporate Registry (LISCR), LLC, on the terms and pr ovisions to form the basis of a contract, which 
will extend the current Agreement for an additional ten years.  LISCR, the US-based Agent of the 
Liberian Registry, has served the BMA since 31 Decemb er 1999.  During this period, the Registry's 
level of service, quality and clie nt satisfaction greatly improved, thereby attracting increasing 
numbers of ship owners worldwide. The Regi stry has increased in size from 1,700 vessels of 
53 million gross tons to over 3,000 vessels of nearly 90 million gross tons over the past nine years.   
When a ship is registered on Liberia Ship Register , a registration fee is payable, and thereafter while 
remaining on the register, there is an annual fee payable on January 1 of each year.  WT/ACC/LBR/3 
 Page 115 
 
 
  2. Internal Waterways Transport (CPC Codes 7221-7224, 8868 and 745) 
In Liberian internal waterways, th ere are no commercial transport vessels.  Traditional water transport, 
such as canoes are very common and are used to  move agricultural produce to local markets.  
3. Air Transport Services (CPC Codes 731, 732, 734, 746 and 8868) 
In Liberia there is one international airport – Robe rts International Airport that is operated by the 
Government.  There is no national airline. 
4. Space Transport Services 
Liberia does not have any space transportation. 
5. Rail Transport Services 
Liberia does not have any public rail transportation.  Some companies have entered into agreements to 
build rail lines to move raw materials and in  exchange will provide limited rail services.  
6. Road Transport Services 
In Liberia public transport is by road alone.  Ther e are taxi services, bus services and car motorcycle 
and bicycle rental services that operate out of Monr ovia.  The public transport system in Monrovia is 
limited to privately-owned daytime buses.  There ar e taxis that operate on a private basis and serve 
mainly foreign clientele and businesses as well as route taxis that pick up passengers along their 
regular routes.  Transport services are reserved for Liberians.  
7. Pipeline Transport 
The Ministry Lands, Mines and Energy in conjunction with the Ministry of Trade and Industry 
regulates petroleum exploration, supervises petrol eum exploration activity and grants petroleum 
exploration licenses.  The Ministry of Lands, Mines and Energy develops the strategy for petroleum 
exploration and any oil and gas transportation via pipelines. 
 WT/ACC/LBR/3 
Page 116  
 
  ANNEX 8 
A. List of Foreign Trade Agreements 
Liberia is not party to any bilateral trade agreemen ts that have reciprocal commitments but benefits 
from two unilateral preferential schemes. 
- European Community's EBA Initiative
 
In February 2001, the European Council adopted Regulation (EC) No. 416/2001, the so-called "EBA 
Regulation" ("Everything But Arms"), granting duty-free access to imports of all products from LDCs, except arms and ammunitions, without any qua ntitative restrictions (with the exception of 
bananas, sugar and rice for a limited period). The EBA was later incorporated into the GSP Council 
Regulation (EC) No. 2501/2001.  The Regulation foresees that the special arrangements for LDCs 
should be maintained for an unlimited period of time and not be subject to the periodic renewal of the 
Community's scheme of generalised preferences.   EBA provides the most favourable regime 
available. The EBA gives Liberia and the other 48 LDCs duty free access to the EU for all products, 
except arms and ammunition. 
- United States AGOA Program
 
In May 2000, the United States Congress approve d legislation known as the African Growth and 
Opportunity Act, or AGOA (Title I, Trade and Development Act of 2000; P.L. 106–200) . The 
purpose of this legislation was to assist the economies of sub-Saharan Africa and to improve 
economic relations between the United States and th e region.  AGOA provides trade preferences for 
quota and duty-free entry into the United States fo r certain goods, expanding the benefits under the 
Generalized System of Preferences (GSP) program.  Notably, AGOA expanded market access for 
textile and apparel goods into the Unite d States for eligible countries.   
The legislation authorized the President of the Un ited States to determine which sub-Saharan African 
countries would be eligible for AGOA on an annual basis.  The eligibility criteria was to improve 
labour rights and movement toward a market-based economy.  Each year, the President evaluates the 
sub-Saharan African countries and determines which countries should remain eligible.  Liberia was 
declared AGOA-eligible on 29 December 2006 but h as not been taking advantage of this facility. 
Additional rules of origin are applied to appare l.  Having AGOA eligibility does not imply automatic 
eligibility for a "Wearing Apparel" provision.  To export apparel and certain textile to the US under 
the AGOA duty-free, an eligible country must have  implemented a "Visa System" that satisfies US 
authorities and proves compliance with the AGOA rul es about origin.  Liberia's exports to the US 
consist mainly of natural rubber products. 
B. List of Trade Agreements or parts of them which contain preferential trade provisions, 
indicating by HS (2 digit) the tariff lines in volved, the margin of preference granted, 
reciprocity provisions and details of any other preferential treatment 
Not applicable. 
 
  WT/ACC/LBR/3 
 Page 117 
 
 
  LIST OF ABBREVIATIONS 
ACP 
ADB Africa, Caribbean and Pacific (countries) 
African Development Bank 
AGOA BIVAC 
BoB Africa Growth and Opportunity Act 
Bureau Veritas Group  
Bureau of the Budget 
CBL Central Bank of Liberia CET Common External Tariff  CIF Cost, Insurance and Freight DTIS Diagnostic Trade Integration Study (for Liberia) 
EBA Everything But Arms  
EC European Commission ECOWAS Economic Community of Western African States EDF EEZ European Development Fund 
Exclusive Economic Zone 
EITI Extractive Industries Transparency Initiative 
EPA EPD ERC Economic Partnership Agreement 
Export Permit/Declaration Economic Revitalization Committee 
ETLS EU 
FDA 
FDI ECOWAS Trade Liberalization Scheme 
European Union 
Forestry Development Authority 
Foreign direct investment 
FOB Free on Board FMC FPA Forestry Management Contract 
Fisheries Partnership Agreement 
FTI Forestry Training Institute 
GEMAP Governance and Economic Management Assistance Program 
GOL GSM HACCP HIPC Government of Liberia 
Global System for Mobile (communications) Hazard Analysis Critical Control Points Heavily Indebted Poor Countries 
ICTA Investment Climate Team for Africa (IFC) 
IFC International Finance Corporation (World Bank Group) IMF International Monetary Fund WT/ACC/LBR/3 
Page 118  
 
  IPD 
I-PRSP Import Permit/Declaration 
Interim Poverty Reduction Strategy Paper 
LDC LEC LEDFC 
LISGIS Least Developed Country 
Liberia Electricity Corporation Liberia Enterprise Development Finance Company  
Liberian Institute of Statistics and Geo-Information Services 
LPMC LRC LRDC Liberia Produce Marketing Corporation 
Liberia Revenue Code Liberia Reconstruction and Development Committee 
LTA 
LWSC 
MCS MDA MEA MFI 
MLME 
MoA MoCI MoD MoE MoF Liberian Timber Association 
Liberia Water and Sewer Corporation 
Monitoring, Control and Surveillance (of fisheries) Mineral Development Agreement Mineral Exploration Agreement Micro-finance Institution 
Ministry of Lands, Mines and Energy 
Ministry of Agriculture Ministry of Commerce and Industry Ministry of Defense Ministry of Education Ministry of Finance 
MoFA 
MoH MoJ MoU MPEA 
MPW 
MRU NIC NBFI NCC 
NGOs 
NMML NPA Ministry of Foreign Affairs 
Ministry of Health Ministry of Justice Memorandum of Understanding Ministry of Planning and Economic Affairs 
Ministry of Public Works 
Mano River Union National Investment Commission Non-bank Financial Institution National Coordinating Committee 
Non-governmental Organizations 
New Minerals and Mining Law National Port Authority 
PPCA Public Procurement and Concessions Act   WT/ACC/LBR/3 
 Page 119 
 
 
  PPCC 
PPP Public Procurement and Concessions Commission 
Public Private Partnership 
PRS Poverty Reduction Strategy PSI Pre-shipment Inspection SEZ 
SGS 
SME Special Economic Zone 
Société Générale de Surveillance 
Small and Medium Enterprise 
UNMIL United Nations Mission in Liberia USAID United States Agency fo r International Development 
WAEMU 
WTO West Africa Economic and Monetary Union 
World Trade Organization 
 
__________