By Mohamed Sheriff
For the past 16 years, the Government of Sierra Leone has not been paying its dues to the World Trade Organization (WTO). The accumulated arrears amounted to half a million dollars, preventing the country from participating fully in or benefitting from the number one global trade organization.
This month President Julius Maada Bio’s New Direction Government settled all the arrears, saving Sierra Leone from greater embarrassment as a new Director General – for the first time in the organization’s history an African – is poised to take over early in the New Year.
A few years ago the country’s Embassy in Geneva negotiated a payment plan with WTO. But no action was taken, and Sierra Leone was consigned to Administration, in effect shutting out the country from any meaningful participation in the world’s most important trade organization. It was one of very few countries to suffer that fate.
Under the Leadership of Ambassador Dr. Lansana Gberie, the Embassy renegotiated with WTO early this year. As a result, Sierra Leone was able to actively participate in the selection process of the next Director General as well as in several other mechanisms of the world body.
Deft diplomacy and persistence by Ambassador Gberie also persuaded the Ministry of Finance, under the dynamic Jacob Jusu Saffa and his hardworking Financial Secretary, Sahr Jusu, to settle the arrears in full.
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between all countries. It also provides substantial technical and other support to developing countries. Dr. Ngozi Iweala, Nigeria’s former Finance Minister who is likely to the next Director General, has also promised to provide ‘trade finance’ to poor countries, which would substantially boost countries like Sierra Leone. Sectors like fisheries and agriculture will likely get a boost when the global market is opened to Sierra Leone through its active participation in WTO.
WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their Parliaments, ensure that trade flows as smoothly, predictably and freely as possible.
Ambassador Gberie commended the WTO leadership for its relentless efforts to see Member States keep to their obligations.
While addressing the 5th Parliament of Sierra Leone during the State Opening recently, President Bio said that one of the key objectives of his ‘New Direction’ administration is to create a profitable industry in Agriculture, Fisheries among others that will contribute significantly to socio-economic development through sustainable management and utilization of the country’s marine resources as well as conserving the environment.
