The National Custom Broker Association of Liberia (NCBAL) has alarmed over what they called the devalue of Liberian currency as shipping lines and the Liberia Revenue Authority demand payments only in United States Dollars.
Speaking to reporters Tuesday, March 26, 2024, NCBAL General Secretary Kiatamba Morris Kici said after a case study in the sub-region, Liberia is the only ECOWAS state where local currency is rejected in all sectors.
Kici stated that this practice is causing business owners to incur unnecessary financial burden in trying to buy US Dollars at high rates.
He called on President Joseph Boakai to restore the value of the local currency by ensuring business people can trade freely using the Liberian Dollar.
For his part, the President of the Fula Business Association, Mohammand Majah Barry recommended to the Liberian leader that to save time and cut down cost, the Importers/ Brokers should submit a certified invoice, packing list and a bill of lading to the Broker to obtain a CTN certificate.
He further noted that the approved method of valuation, the General Agreement on Tariffs and Trade (GATT) which is the transactional value should be used by customs to access all commodities.
“As we anticipate a billion budget operation, customs and relevant agencies need to provide due services to the business community by operating on a 24 hour basis,” he said.
He said there should be regular stakeholders meetings organized by the Ministry of Commerce to understand the challenges faced in the trade sector.
“Furthermore, to improve the high efficiency of clearing in Liberia, we need to reduce the amount of agencies monitoring containers, increase the Dl facility, provide scanner to scan intrusive containers selected and provide a more comfortable warehousing for storage,” he noted.
According to him, government needs to invest in the rural ports especially Buchanan, Sinoe, Maryland and an inland port in Ganta, to create high competition with the APM Terminals.
