Monrovia –The Liberia Institute of Statistics and Geo-Information Services (LISGIS) on Thursday, July 25, 2024, hosted a one-day stakeholder consultation workshop on ECO-ICBT data collection in Monrovia. The event was hosted with the aim of preparing Liberia for the upcoming Informal Cross Border Trade (ICBT) survey and provided a platform for stakeholders to share insights and experiences related to ICBT.
Key attendees included Richard F. Ngafuan, Director General of LISGIS; Blamah J. Goll, Economist at the Central Bank of Liberia; Dr. Sacko Seydou, Program Officer for Trade Policy, Informal Trade, and Competition at ECOWAS; Richard J. Pratt, Director for Domestic Trade at the Ministry of Commerce and Industry; and Osborne Tate, Director for Operations at the Liberia Immigration Service.
Richard F. Ngafuan, Director General of LISGIS, said: “LISGIS, as the premier institute coordinating the national statistical system, is committed to collecting both social and economic data. Under President Joseph Nyumah Boakai’s administration and the Arrest Agenda, we emphasize the importance of data collection and analysis for informed policy-making. As we advance in national development planning, trade statistics are crucial to understanding our country’s and economy’s performance.
Currently, Liberia’s overall trade volume is approximately $3.10 million, with exports around $1.27 million. Imports, however, exceed exports significantly, totaling about $1.83 million, resulting in a substantial trade deficit. Informal cross-border trade is vital for revenue generation, as it includes numerous undocumented transactions between Liberia and neighboring countries like Sierra Leone, Guinea, and Ivory Coast. These transactions involve formal goods that should be captured in the system.
This workshop aims to facilitate collaboration among various agencies and prepare for the official informal cross-border survey.
A team from Sierra Leone will join us, and we hope the deliberations will enhance our understanding of informal cross-border trade and improve trade statistics in Liberia.”
Richard J. Pratt, Director for Domestic Trade at the Ministry of Commerce and Industry
“On behalf of the Ministry of Commerce, I extend our gratitude to LISGIS for this initiative.
Traditionally, our trade data has focused on formal trade, but this initiative is significant as it highlights the role of informal trade, which is predominantly conducted by women and young people.
This aligns with the government’s Arrest Agenda, aiming to integrate these groups into economic growth and provide livelihoods through informal trade.
We believe this initiative will equip the government with the necessary tools to formulate policies and, for the Ministry of Commerce and Industry, to develop regulatory frameworks that stimulate informal sector trade. We appreciate the support from ECOWAS in realizing economic integration and encourage all participants to engage actively in this forward-moving effort for our country.”
Osborne Tate, Director for Operations at the Liberia Immigration Service
“Since assuming my position, I have visited numerous border points across Liberia. We have nearly 160 border points, with approximately 46 lacking adequate manpower. We are currently recruiting more personnel to address this issue. Representing LIS here is an honor. As Operations Director, I frequently encounter various issues at border points, emphasizing that these challenges require collective action. As the saying goes, ‘It takes a village to raise a child,’ and we, as a community, must address these problems together. ECOWAS’s involvement is crucial in tackling these challenges.
Funding is essential to our efforts. Any financial support provided will enable us to fulfill our role effectively, and I assure you that we will deliver impressive results.”
