The Plenary of the House of Representatives has mandated its Committee on Commerce and Industry to review and report within one week on Liberia’s participation in the Zero-Tariff Trade Policy agreed upon during the 2024 Forum on China–Africa Cooperation (FOCAC) Summit held in Beijing, People’s Republic of China.
The decision was based on a communication from Nimba County Electoral District #3 Representative Nehker E. Gaye, informing the Plenary that during the 2024 FOCAC Summit, African countries and the People’s Republic of China agreed to a Zero-Tariff Policy aimed at strengthening trade and investment relations between China and African nations.
According to Representative Gaye, the 2024 Summit emphasized a shift in Sino-Africa relations from traditional aid to increased trade cooperation. He noted that the Republic of Liberia was among the African countries included in the agreement.
“In view of the above-mentioned, and considering the vital nature of this Zero-Tariff Trade Policy, I crave the Plenary’s indulgence to invite the Minister of Commerce, Trade and Industry to provide detailed information as to whether our business people are making maximum use of this opportunity, and to elaborate on the advantages and disadvantages of this policy,” Representative Gaye stated in his communication.
Following deliberations, Plenary mandated the House Committee on Commerce and Industry to engage the Ministry of Commerce, Trade and Industry and provide a comprehensive report within one week. The review is expected to assess the extent to which Liberian businesses are benefiting from the policy and identify potential opportunities and challenges associated with the trade arrangement. The House of Representatives remains committed to ensuring that international trade agreements translate into meaningful economic opportunities for Liberian businesses and contribute to national economic growth.
