U.S. Ambassador Mark Toner and Commerce Minister Amin Modad Discuss Strengthening Liberia Economic Ties.
By: Melvin Flomo
The newly appointed U.S. Ambassador to Liberia, Mark Toner, met today with Hon. Amin Modad, Liberia’s Minister of Commerce and Industry, to discuss strategies for strengthening the longstanding bilateral relationship between the two nations and fostering economic growth.
During the meeting, Minister Modad presented his comprehensive plan for advancing Liberia’s economic development, highlighting a particular focus on empowering women- and youth-owned businesses, small and medium-sized enterprises (SMEs), and cross-border trade initiatives. He underscored the importance of such efforts in driving the nation’s overall economic growth.
Meanwhile, Minster Modad reaffirmed Liberia commitment to key trade agreements, notably the African Growth and Opportunity Act (AGOA) and the African Continental Free Trade Area (AfCFTA). He also stressed the importance of formalizing the country’s informal business sector through improved business registration processes, which he believes will enhance economic stability and growth.
In his remarks, Minister Modad called for enhanced training programs for Liberian trade officials, emphasizing the need to build their capacity to navigate and benefit from international trade agreements. He advocated for the establishment of robust public-private partnerships that could further catalyze the nation’s economic development.
Moreover, Minister Modad also highlighted the potential of the Monrovia Industrial Park as a critical hub for local production. He urged increased investment in the park to boost domestic manufacturing, which he argued would contribute significantly to reducing the nation’s reliance on imports and improving its trade balance.
Seeking support from the United States, Minister Modad requested assistance in strengthening the institutional capabilities of the Ministry of Commerce and Industry. He specifically pointed to the inspectorate division and trade officers as areas in need of capacity-building to effectively implement and leverage trade agreements.
The discussion also covered the need for increased value addition in Liberia’s rubber sector. Minister Modad emphasized that enhancing the value chain in this key industry could lead to more significant economic returns and job creation.
Nevertheless, Ambassador Toner expressed the U.S. government’s readiness to support Liberia in achieving its economic goals and reaffirmed America’s commitment to fostering a strong and mutually beneficial partnership with Liberia.
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