30 April 2014

Liberia: SMEs Cardinal to Liberia's Growth & Development - Says Commerce & Industry Minister

Liberia's Commerce and Industry Minister, Axel M. Addy, says the Government of Liberia (GoL) remains committed to the growth and development of the Small and Micro Enterprises (SMEs).

According to Minister Addy, SMEs are the largest employers and champions of economic growth in many parts of the world, and as such, Liberia is not an exception.

Min. Addy was speaking Tuesday, April 29, 2014, at the start of the Second Micro-Small and Medium Enterprises (MSMEs) being held at the Monrovia City Hall.

The Second MSMEs conference brings together top officials of government, Members of the Diplomatic Corps, both local and international business organizations and Liberia's development partners.

Like the first conference, the Commerce Ministry boss noted, the second conference has a goal of empowering MSMEs to be drivers of inclusive economic growth, wealth creation and poverty reduction.

"We believe Liberia has a competitive advantage in fully utilizing these areas for MSMEs development; we are showcasing a diverse selection of top MSMEs that successfully meet market demands, despite the many barriers encountered in building profitable and sustainable businesses. With these undertakings, I strongly believe we are heading in the right direction," said Minister Addy.

He said the initiative is meant to empower local production and create market access for Liberian made products.

"I believe this is a unique opportunity to share our experiences and ideas and to showcase the best in Liberian products and provide opportunity for investors, potential customers and other business people to recycle what Liberian MSMEs have to offer. Friends, this trade fair is an opportunity for Liberian businesses to display how much have learned from these experiences," he added.

For her part, the Executive Director of the International Trade Center (ITC), Madam Arancha Gonzalez, said the success of the SMEs growth will be a signal to Liberia's prosperity.

"When this succeeds, Liberia will prosper. We know that you are faced with numerous problems, but it shouldn't be forgotten that SMEs can be the heart of the nation's economy," she stated.

She urged that Liberia moves it business operations above its territorial boundaries, noting that ITC will play its required role in the improvement of Liberian trade.

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