EU Statement at the Trade Policy Review of the Republic of Sierra Leone, 15 April 2025
I would first like to welcome the Delegation of Sierra Leone, led by H.E. Mr Alpha Ibrahim SESAY, Minister of Trade and Industry, and my colleague Ambassador Dr. Lansana GBERIE and his team here in Geneva. My appreciation is extended to the Discussant, H.E. Mr. Muhammadou KAH (The Gambia) for getting us started today with his remarks.
Since its last trade policy review in 2017, Sierra Leone has made several worthwhile reforms to improve the business environment and facilitate trade, notably through the transition to ASYCUDA World, the development of the National Development Plans for 2019–2023 and 2024–2030, to guide the country's macroeconomic policies, including trade, aiming to position itself as a middle-income country by 2039.
Sierra Leone has, however, faced a range of economic challenges, stemming from both internal weaknesses and external shocks including COVID-19 and the war in Ukraine, which have had significant economic repercussions in Sierra Leone, mostly due to global value chains disruptions.
The EU is one of the main trading and investment cooperation partners of Sierra Leone. The European Union does not impose any tariffs on imports from Sierra Leone, granting the country full duty free and quota free access under the “Everything But Arms” scheme, which offers duty free and quota free access to the EU market.
The EU is committed to support Sierra Leone on its path towards inclusive and sustainable growth. We particularly support its efforts to overcome socio-economic challenges, carry out its economic reforms in compliance with its international commitments, increase business efficiency, reduce costs and improve competitiveness. The EU has provided support through implementation of several programmes in Sierra Leone in agricultural value chains, employment promotion, infrastructure, business environment and energy in the recent years.
Still, there is room for improvement – structural reforms are needed to ensure fair competition, streamline customs procedures in line with international best practices and standards such as the WTO’s Trade Facilitation Agreement, reducing the burden on private companies, boosting trade competitiveness, and enhance the economic resilience of Sierra Leone.
The EU hopes to see increased foreign investment in Sierra Leone and believes that fostering an inclusive Public-Private Dialogue is key to addressing certain technical barriers to trade. To enhance the country’s attractiveness to investors, the EU also encourages continued efforts to improve the overall business environment. In this regard, the EU welcomes that Sierra Leone participates in the WTO Agreement on Investment Facilitation for Development.
Moreover, it is important to minimize challenges that may discourage private sector engagement. For instance, the frequent requests from parliamentary committees, while important for oversight, can place a significant burden on businesses by diverting critical human resources and potentially affecting their operations.
The EU also welcomes that Sierra Leone has ratified in 2024 the WTO Agreement on Fisheries Subsidies.
Mr. Chairperson, we have submitted some questions and are particularly interested in receiving information on the implementation of key trade and business environment reforms.
I would like to reiterate the EU’s appreciation for the government's efforts to improve the business environment in Sierra Leone and look forward to continuing our cooperation and support in this area.
On behalf of the EU, I wish Sierra Leone the utmost success during its Trade Policy Review.