The United Nations Development Programme (UNDP) has stressed that the African Continental Free Trade Area (AfCFTA) has the potential to significantly transform Liberia's economy, but only if the country undertakes key regulatory and institutional reforms needed to strengthen its services sector and improve competitiveness.
The message was delivered on May 11, 2026, in Monrovia by UNDP Resident Representative to Liberia, Aliou Mamadou Dia, during the opening of a National Workshop on the Use of the Regulatory Audit Report on Trade in Services under the AfCFTA Agreement.
The three-day workshop, scheduled to run until May 13, 2026, is jointly organized by the ECOWAS Commission, UNDP, and the Government of Liberia through the Ministry of Commerce and Industry.
The forum brought together policymakers, negotiators, regulators, private sector actors, academics, and development partners to assess Liberia's readiness to benefit from expanded trade in services across Africa.
Follow us on WhatsApp | LinkedIn for the latest headlines
Describing AfCFTA as a landmark continental initiative, Dia said it represents far more than a trade arrangement for Liberia's development path.
"For Liberia, the AfCFTA is not merely a trade agreement. It is a strategic instrument for economic diversification, private sector development, value addition, innovation, and inclusive growth," he said.
He emphasized that the agreement could unlock major opportunities for job creation and economic expansion, particularly in sectors such as finance, telecommunications, transport, tourism, logistics, education, and digital services.
According to him, these sectors are critical for women, youth entrepreneurs, and small businesses seeking greater participation in the formal economy.
However, Dia warned that the benefits of AfCFTA will not materialize automatically without deliberate policy action and reforms.
He explained that Liberia must urgently modernize and harmonize its regulatory frameworks in order to remove barriers that limit trade in services and weaken competitiveness.
"The Regulatory Audit Report on Trade in Services provides us with an opportunity to critically assess our existing legal, policy, and institutional frameworks governing services sectors," Dia said.
He noted that the report will help identify "regulatory gaps, inconsistencies, barriers, and reform priorities necessary to improve competitiveness and facilitate cross-border trade in services."
The UNDP Resident Representative further underscored that AfCFTA implementation must deliver tangible benefits to ordinary Liberians, including employment opportunities, business growth, and poverty reduction.
He said the success of the agreement should be measured not only in policy terms but in its impact on households and communities across the country.
Speaking at the same event, ECOWAS Chargé d'Affaires to Liberia, Dr. Nathaniel B. Walker, reinforced the importance of regional preparedness in fully implementing the continental trade framework.
Representing ECOWAS Commission President Dr. Omar Alieu Touray and Commissioner for Economic Affairs and Agriculture Dr. Kalilou Sylla, Walker said the workshop is part of broader efforts to ensure member states are fully equipped to participate in the African single market.
"The AfCFTA remains one of the flagship initiatives of African integration," Walker said. "It seeks to establish a single continental market for goods and services, facilitate the free movement of people and investments, and accelerate Africa's structural transformation."
He noted that trade in services now accounts for more than 51 percent of Africa's GDP, describing it as a key driver of economic growth and employment across the continent.
Walker also disclosed that ECOWAS has already made progress in advancing the trade in services agenda, including the submission of a draft consolidated schedule of specific commitments to the AfCFTA Secretariat in December 2025.
According to him, regulatory audit reports developed with support from partners such as the World Bank, WTO, International Trade Centre, European Union, and GIZ are designed to improve transparency, identify constraints, and guide evidence-based reforms.
He explained that the current workshop is intended to help Liberia strengthen its capacity to use these tools effectively, identify priority reforms, and develop practical strategies for implementing AfCFTA obligations.
"We firmly believe that strong national ownership of these processes is essential for ensuring sustainable reforms that are responsive to local realities and supportive of inclusive economic growth," Walker said.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
Liberia's Deputy Minister for Commerce and Trade, Wilmot Reeves, also addressed the gathering, describing the workshop as a critical opportunity for national economic repositioning.
Reeves said the services sector--including transport, tourism, finance, communication, construction, health, and professional services--remains central to modern economic development and regional integration.
He emphasized that private sector participation will be essential in driving the success of AfCFTA implementation, noting that businesses are the ultimate beneficiaries of the reforms under discussion.
"The private sector must remain central in this process, as businesses are ultimately the end users and beneficiaries of these reforms," Reeves said.
The workshop also featured technical presentations and breakout sessions focused on key service sectors including financial services, transport, communication, tourism, and business services, as well as construction, health, and distribution services.
Participants are expected to produce practical recommendations aimed at strengthening Liberia's regulatory environment, improving market access, and enhancing readiness to implement the AfCFTA Protocol on Trade in Services.
