The Liberia Institute of Statistics and Geo-Information Services (LISGIS) last week held a day-long stakeholder consultation on the ECOWAS Informal Cross Border Trade (ECO-ICBT) data collection.
The event, which took place on Thursday, July 25, at a local resort in Monrovia, aimed to ensure Liberia's preparedness for the conduct of the forthcoming ICBT survey and provided a platform for stakeholders to share insights and experiences related to ICBT.
Richard F. Ngafuan, Director General of LISGIS, emphasized that LISGIS, as a premium institute geared towards coordinating the national statistical system, is interested not only in social data but also in economic data.
He stressed that under the ARREST Agenda of the Boakai administration, they cannot do adequate planning in the absence of appropriate data collection and data analysis to inform policy. "As we advance in the national development planning process, one aspect that is very pivotal is the issue of trade," he said. "Trade is important because it tells us the extent to which our country is performing and our economy is performing."
Ngafuan highlighted that Liberia's overall trade volume is approximately US$3.10 million, with exports around US$1.27 million, and the imports, however, exceed exports significantly, totaling about $1.83 million, resulting in a substantial trade deficit.
According to him, 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. "The goods and services that turn to move through these border points are formal goods, goods that should be captured into the system."
"A team from Sierra Leone will join us, and we hope that the deliberations that will come after this meeting will prepare our country, especially about trade. It will also give us a new perspective on the ICBT, and improve trade statistics in Liberia," he concluded.
Richard J. Pratt, Director for Domestic Trade at the Ministry of Commerce and Industry, said Liberia's trade data has focused on formal trade, but the workshop is significant as it highlights the role of informal trade, which is predominantly conducted by women and young people.
"The government, through the ARREST Agenda, is aiming to integrate these groups into economic growth and provide livelihoods through informal trade," he said. "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."
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"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 (Liberia)."
Osborne Tate, Director for Operations at the Liberia Immigration Service, elaborated that since assuming his position, he has visited numerous border points across Liberia. "We have nearly 160 border points, with approximately 46 lacking adequate manpower, and we are currently recruiting more personnel to address this issue," he explained.
According to him, as operations director, he frequently encounters 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 are a big village! We must address these problems together, and I am so happy that ECOWAS sees it necessary to come and join us to tackle these challenges.
Tate emphasized that funding is essential to their efforts. "Any financial support provided will enable us to fulfill our role effectively, and I assure you that we will deliver impressive results," he concluded.
Other key attendees at the workshop included Blamah J. Goll, Senior Economist at the Central Bank of Liberia and Dr. Sacko Seydou, program officer for trade policy, informal trade, and competition at ECOWAS.
