The Vice President of Liberia Jeremiah Kpan Koung has made a case for Liberia at the India-Africa Business Conclave in New Delhi, India, seeking knowledge on the skills, expertise and technology India has deployed over the years to have a vibrant agriculture sector.
Addressing the meeting on Wednesday, August 21, 2021, the Vice President highlighted the long-standing diplomatic relation which continues to exist between India and Liberia for more than six decades. Vice President Koung said in 2012, the two nations began a new trade arrangement with the India Duty-Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs).
According to him, under the scheme, India has provided preferential market access for Liberia’s exports, covering 94% of total tariff lines. To date, the two nations’ bilateral trade volume is over US$325 million.
Koung said since then, there are more than 2,000 Indians residing in Liberia, mainly engaged in trading, services and in manufacturing ventures, with about 150 Indian companies ranging from small trading firms to medium manufacturing enterprises.
However, the vice president said although India is Liberia’s main importer of rice with an annual cost of about US$140 million, yet it lacks knowledge on the skills, expertise and technology that have driven the success of India’s agriculture sector, saying, the achievements of India in the agriculture sector are worth emulating and Liberia is prepared to listen and learn from their experience. “This positions India as a major producer and exporter of rice in the world, and a country which has done exceedingly well in the areas of agriculture, health, and manufacturing,” Koung said.
Vice President Koung said that Liberia’s goal is to shift from rice importation to rice production in the medium to long-term, and invest in local farmers by providing capital, skills, technology and equipment for local production.
“On July 10, 2024, President Boakai officially launched the National Agriculture Development Plan (NADP), a visionary six-year blueprint designed to transform Liberia’s agricultural sector and achieve self-sufficiency in food production. Our strategy is to leverage on Liberia’s abundant agricultural resources and transition our country from dependence on food imports to a state of abundance and self-reliance,” the Vice President said.
Koung’s presence at the Business Conclave, according to him, is an affirmation of the Liberian Government’s commitment to seek potential investors specifically in the agricultural sector, and to also encourage investments in other sectors which are mutually rewarding.
He said as a government, it has the responsibility to engage international partners and friends on the opportunities Liberia offers for investment and trade as to achieve socio-economic development, Liberia must create jobs for its citizens.
Vice President Koung said that he remains hopeful that the Business Conclave and the planned meetings will solidify new partnerships and offer renewed hope for Liberians. He reaffirmed Liberia’s commitment to the bilateral friendship and congratulated the Government and People of the great Republic of India for such a unique continental gathering.
