The Government of Liberia has issued an Executive Order 193 temporarily suspending import tariffs on key agricultural products and equipment.
This step, as part of the government’s broader strategy to promote macroeconomic stability and foster private-sector-led growth, aims to enhance productivity and improve the livelihoods of rural farmers.
The government has identified high tariffs on agricultural inputs as a major obstacle to the sector’s growth.
These tariffs have been found to conflict with the government’s strategic goals outlined in the ARREST Agenda, hindering efforts to promote economic diversification and competitiveness within the economy.
The suspension of tariffs is expected to make agricultural inputs more affordable, thereby enhancing productivity, improving income levels for local farmers, and promoting economic stability across the nation.
The Executive Order, signed by President Joseph Boakai, acknowledges the vital role of agriculture in Liberia’s economic development, especially in rural areas where farming remains the primary source of income.
By suspending tariffs on agricultural equipment and inputs, the government aims to make these resources more accessible to farmers, thereby improving commercial viability and increasing agricultural output.
According to the Executive Order, importers of agricultural inputs will now only be required to pay Customs Users Fees (CUF) and, where applicable, the ECOWAS Trade Levy (ETL).
The Minister of Finance and Development Planning, in consultations with the Minister of Agriculture and the Commissioner General of the Liberia Revenue Authority, has been tasked with formulating administrative regulations to streamline the tax exemption process for eligible beneficiaries in the agricultural sector.
To qualify for these exemptions, beneficiaries must demonstrate direct involvement in the agricultural sector, a requirement to be verified by the Ministry of Agriculture.
This ensures that the support is directed towards those most in need, namely the farmers and agricultural businesses that are integral to the nation’s food production and rural economy.
This Executive Order takes effect immediately, and the government is urging all stakeholders to comply with the provisions outlined in the decree.
The move is seen as a crucial step in the government’s effort to stimulate agricultural growth, boost local production, and enhance the economic prospects of rural farmers.
As Liberia strives to meet its development goals, the suspension of tariffs represents a significant push towards creating a more competitive agricultural sector, reducing barriers to entry, and fostering greater sustainability and economic diversification.
The government remains committed to advancing the forestry and agricultural sectors, recognizing their essential role in driving national development and ensuring the welfare of the Liberian people.
