President Ellen Johnson Sirleaf has issued Executive Order No. 73 suspending tariffs imposed on essential agro-processing, forestry and agricultural equipment, live animals for breeding, agricultural seeds and other goods directly related to forestry and agricultural development classified under the tariff numbers of the Liberia Revenue Code.
According to an Executive Mansion release, importers will pay only the Custom User Fee (CUF) and the ECOWAS Trade Levy (ETL) where applicable. Those benefiting from the Executive Order must be directly involved in agro-processing, forestry and agriculture.
The Executive Order signed on December 1, 2015, renews Executive Order No. 64 which expired on April 25th 2015. The Executive Order takes immediate effect.
The Government of Liberia seeks to continuously incentivize the agricultural sector in its quest to diversify the economy as it recognizes that the development of the forestry, agriculture and agro-processing sectors are key to achieving growth in those sectors, thus increasing food security and overall improvement in the livelihood of smallholder farmers and the private sector.
The Executive Order further states that government recognizes the increasing need to stimulate activities in agro-processing, forestry and agricultural and continuously provide incentives to those sectors according to the economic transformation pillar of the Agenda for Transformation. Encouraging private sector investment in the procurement of essential agro-processing, forestry and agricultural equipment, agricultural seeds, and other goods will lead to the improvement and development of those sectors.