By Bill W. Cooper
The Liberia Institute of Statistics and Geo-Information Services (LISGIS) and partners have attended a one-day stakeholders’ consultation workshop on ECO-ICBT data collection in Monrovia.
The event which was held over the weekend, aimed to prepare Liberia for the upcoming Informal Cross Border Trade (ICBT) survey and provided a platform for stakeholders to share insights and experiences related to ICBT.
In his opening remark, LISGIS Director General, Richard Ngafuan said, “LISGIS, as the premier institute coordinating the national statistical system, is committed to collecting both social and economic data.”
According to him, under President Joseph Boakai’s administration, the importance of data collection and analysis for informed policy-making as the government advance in national development planning, trade statistics are crucial to understanding our country’s and economy’s performance can never be overemphasized.
He disclosed that currently, Liberia’s overall trade volume is approximately US$3.10 million, with exports around US$1.27 million while Imports, however, exceed exports significantly, totaling about US$1.83 million, resulting in a substantial trade deficit.
He mentioned that 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, he added involve formal goods that should be captured in the system, adding that the consultative meeting aims to facilitate collaboration among various agencies and prepare for the official informal cross-border survey.
Commerce Ministry Director for Domestic Trade, Richard Pratt thanked LISGIS and partners for the initiative, and noted, “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.”
“So, 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,” he stated.
“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,” he added.
Also, the Liberia Immigration Service (LIS) Deputy Director of Operations, Osborne Tate said, “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.”
According to him, he frequently encounter various issues at border points, emphasizing that these challenges require collective action and said, “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 also crucial in tackling these challenges and funding is also 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,” he added.
