The Government of Liberia, through the Ministry of Commerce and Industry, in collaboration with the International Trade Center (ITC), has commenced a two-day awareness and capacity-building program for key stakeholders on the Africa Continental Free Trade Agreement (AfCFTA).
The initiative, which runs from October 14-15, aims to equip public and private sector actors with the necessary knowledge and skills to leverage the opportunities presented by the AfCFTA, which, when utilized, would greatly impact the country’s socio-economic development.
Speaking at the opening of the two-day workshop, the Acting Minister of Commerce and Industry, Hon. Scholastica T. Nimely, noted that the “gathering represents” President Boakai’s administration’s unwavering commitment to regional integration and its journey toward fully embracing the economic opportunities that the AfCFTA offers.
“The AfCFTA is a monumental initiative that holds great promise for the African continent,” Minister Nimely said. “It is not only a trade agreement—it is a framework for transforming Africa’s economies by fostering closer economic integration, boosting intra-African trade, and positioning Africa as a global economic powerhouse.”
“For Liberia, the AfCFTA offers a unique opportunity to diversify our economy, increase our export potential, and create jobs—especially for our women and youth,” Minister Nimely added.
Minister Nimely also noted that the Ministry of Commerce and Industry remains fully committed to ensuring that the country’s regulatory frameworks are aligned with AfCFTA protocols, as well as expanding growth in the private sector.
According to Minister Nimely, the Ministry of Commerce, with support from partners, including the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the International Trade Centre (ITC), has developed an AfCFTA National Implementation Strategy, which “outlines a clear roadmap for Liberia’s participation in the continental free trade area.”
“This strategy places particular emphasis on promoting the inclusion of women and youth in trade, supporting small and medium-sized enterprises (SMEs), and creating an enabling environment for private sector growth,” Minister Nimely added.
What is AfCFTA?
The AfCFTA, established in 2018, is one of the most ambitious trade projects in Africa’s history, creating a single market for goods and services across 54 of the 55 African Union member states.
The agreement seeks to reduce tariffs by 90%, eliminate trade barriers, and facilitate the free movement of goods, services, and investments across the continent. It has a combined market value exceeding $3 trillion and is projected to boost intra-African trade by $450 billion in 2025—a seven percent gain. The AfCFTA, which is expected to lift 30 million people from extreme poverty, provides Liberia with a critical opportunity to expand beyond traditional trade partners and industries, such as agriculture and mining. It opens the door for Liberian businesses to access larger markets in Africa, increasing export potential and attracting foreign investment.
If fully implemented, the AfCFTA will be a game-changer for Liberia’s struggling economy, as it would stimulate industrialization and increase foreign direct investment (FDI) as international companies seek access to the broader African market via the AfCFTA.
The ongoing workshop is just one aspect of numerous activities spearheaded by the Ministry of Commerce and the International Trade Center to ensure that businesses, government agencies, and other stakeholders are prepared to take full advantage of the agreement. This includes more training workshops, policy consultations, and awareness campaigns aimed at educating Liberians on the technical aspects of the AfCFTA, trade facilitation, and export development strategies.
Speaking yesterday at the opening of the workshop, Mr. Aklile Mitiku Habtemariam, Program Portfolio Manager for Liberia at the International Trade Centre (ITC), noted that the workshop complements similar efforts made by the government recently to provide the private sector an opportunity to deliberate on issues that matter most to Liberia about the implementation of the AfCFTA.
“[The activities are] sponsored under the Interim Facility project of the Enhanced Integrated Framework (EIF) program of the EIF Secretariat, which is being implemented through collaboration between the International Trade Centre and the Ministry of Commerce,” Habtemariam said.
“Today’s workshop will be one of many events planned under the project. The EIF Interim Facility project, entitled ‘Improving Institutional Capacities and Partnership for Enhanced Trade Integration,’ has the overall goal of accelerating Liberia’s regional and continental trade integration for improved economic growth,” he added.
According to Habtemariam, the EIF’s principal objective is to strengthen a conducive trade environment, development support services, and partnerships for Liberia.
Specifically, it aims to provide solutions that would help strengthen the Single Project Implementation Unit (SPIU) at the Ministry of Commerce and Industry, support the Government in advancing its policy-level engagement in the context of the AfCFTA, and facilitate expanded aid for trade support to Liberia to help spur economic growth through trade.
