WCO Admits Liberia As Contracting Party

The World Customs Organization (WCO) has accepted Liberia as a Contracting Party to its Harmonized System Convention (HSC). Liberia’s acceptance also makes the country eligible to exceed to the Economic Community of West African States (ECOWAS) Common External Tariff. The latest decision by WCO also makes Liberia the 138th contracting party to the convention.

According to a statement issued by the Ministry of Finance, WCO officially took the decision on Monday, 26 June 2010 in Brussels after the Republic of Liberia deposited with the Secretary General of WCO its instrument of accession to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System).

Considering that more than 98% of international merchandise trade is classified in terms of the Harmonized System, WCO said it was pleased to welcome Liberia as the 138th Contracting Party to the Harmonized System Convention and looks forward to the country’s active participation with respect to Harmonized System matters.

The Harmonized System Convention will enter into force in Liberia on January 1, 2012, unless Liberia decides to specify an earlier date.

Customs Commissioner Decontee T. King-Sackie expressed her delight that Liberia has exceeded to WCO Harmonized System.

“This will qualify the country to get technical assistance both to government and trade from the WCO,” the Customs Commissioner remarked.
Commissioner King-Sackie stated that WCO’s decision is another millstone in Liberia’s trade reform agenda.

Liberia has been a Member of the WCO since January 7, 1975. The West African nation’s principal export commodities are rubber, timber, iron ore, diamonds, cocoa and coffee, while its principal import commodities are fuels, chemicals, machinery, transportation equipment, manufactured goods and foodstuffs.