Thursday, April 24, 2025
23.6 C
Sierra Leone

Trade Policy Review strengthens Sierra Leone’s path to middle-income status by 2039

Share

Mohamed Sheriff, Information Attaché – Geneva, Switzerland

The World Trade Organization (WTO) Member States have overwhelmingly applauded Sierra Leone for the successful conclusion of its Third Trade Policy Review (TPR), a milestone that coincides with the country’s 30th anniversary as a WTO member.

Held in Geneva, Switzerland, the review highlighted Sierra Leone’s substantial progress in trade and economic reforms, earning commendations from both developed and developing nations.

Leading Sierra Leone’s delegation was the Minister of Trade and Industry, Honourable Alpha Ibrahim Sesay, accompanied by officials from the Ministry of Finance, the National Revenue Authority’s Customs Department and the National Investment Board.

A major highlight of the session was the international acclaim directed at the Trade Minister and Sierra Leone’s Permanent Representative to the UN and WTO, Ambassador Dr. Lansana Gberie, for their visionary leadership and commitment to driving trade and investment reforms. Their efforts were recognized as instrumental in elevating Sierra Leone’s global economic profile and making the country increasingly attractive to foreign direct investment (FDI).

WTO Member States engaged robustly throughout the session, offering more than 170 questions and 39 comments and providing valuable insights into Sierra Leone’s trade policy landscape. Their feedback, both critical and constructive, underscored Sierra Leone’s resilience in navigating major disruptions such as the 2014 Ebola epidemic, the COVID-19 pandemic and other global economic headwinds.

The review process also reaffirmed Sierra Leone’s strong alignment with its Medium-Term National Development Plan (2023–2030), which aspires to transition the country to Middle-Income Country status by 2039. The plan’s core pillars, known as the “Big Five Game Changers,” emphasize economic diversification, trade facilitation and sustainable development.

Sierra Leone’s previous TPRs took place in April 2005 and February 2017. This third iteration drew unprecedented praise from a broad spectrum of countries, including the United States, United Kingdom, European Union, Canada, Singapore, Saudi Arabia, UAE, China, Japan, India, Brazil, Indonesia, Australia, Nigeria, Ghana, Liberia, Cabo Verde, Egypt, Tanzania, Barbados, Trinidad and Tobago among others.

Notable achievements highlighted during the review include:

• Implementation of the National Trade Facilitation Agreement

• Establishment of the National Investment Board

• Ratification of the WTO Fisheries Subsidies Agreement

• Economic diversification efforts

• Digitization of customs processes through ASYCUDA World and the Single Electronic Window

In addition to praise, member states offered strategic recommendations to accelerate progress:

• Enhance engagement with the WTO and address outstanding notifications

• Further advance trade facilitation and capacity building

• Embrace e-commerce and enhance multilateral trade participation

WTO Director-General, Dr. Ngozi Okonjo-Iweala, recognized the key role of Sierra Leone’s trading partners, especially the UK, EU, Canada, Singapore, Saudi Arabia and members of the African, LDC and ACP groups in supporting the country’s trade agenda and the success of the review.

In closing, Sierra Leone reaffirmed its commitment to deepening reforms across sectors including digital trade, sustainable fisheries, agriculture and women’s economic empowerment.

The Trade Minister, Alpha Ibrahim Sesay, concluded the review with a strong pledge to uphold a rules-based, inclusive multilateral trading system that champions sustainable and equitable development for all.

Read more

Latest News