Concluding remarks by the Chairperson

As we conclude our discussions on Sierra Leone's trade policies and practices, I would like to highlight the key points and impressions shared by Members. This third Trade Policy Review has attracted strong engagement from a broad range of delegations, and the exchanges have been both comprehensive and constructive. It has provided an excellent opportunity to assess Sierra Leone's progress in its economic, trade, and investment frameworks since 2017, while also shedding light on areas where Members expect further reforms.

The Review has benefited greatly from the active and constructive participation of Sierra Leone's delegation, led by H.E. Alpha Ibrahim Sesay, Minister of Trade and Industry. We also appreciated the thoughtful remarks by the discussant, Ambassador Prof. Muhammadou Kah, Permanent Representative and Ambassador of The Gambia, as well as the valuable contributions from over 39 delegations that took the floor on Tuesday and today.

During the period under review, Sierra Leone faced considerable challenges due to the COVID-19 pandemic and the economic repercussions of the war in Ukraine. These shocks resulted in volatile annual GDP growth rates, averaging 3% between 2017 and 2023, with a notable contraction of 2% in 2020. While Members commended Sierra Leone's efforts, as a least developed country, in navigating these difficult circumstances, they also highlighted the country's heavy reliance on commodities, which heightened its economic vulnerability. In this context, they emphasized the need for comprehensive structural reforms to enhance economic resilience and put the economy on a path to more inclusive and sustainable economic growth.

Several Members commended Sierra Leone for its recent initiatives aimed at improving the business climate to attract foreign investment, particularly in support of economic diversification through the growth of the manufacturing and tourism sectors. They expressed strong support for the establishment of the National Investment Board, which many viewed as a positive step toward streamlining investment procedures. Members also underscored the need to address infrastructure challenges, especially through the advancement of green, reliable, and affordable energy solutions. The Government's various strategic policies received particular recognition, notably the Medium-Term National Development Plan, the National Strategy for Financial Inclusion, and the National Digital Development Strategy. These frameworks are expected to play an important role in promoting sustainable development, enhancing the digital economy, reducing the cost of doing business, and strengthening food security.

A widely shared view among Members was Sierra Leone's commitment to the multilateral trading system. Members expressed appreciation for Sierra Leone's active engagement and constructive contributions at the WTO, notably through its participation in ongoing multilateral negotiations, its ratification of the Trade Facilitation Agreement and the Agreement on Fisheries Subsidies, and its acceptance of the Protocol amending the TRIPS Agreement. They also welcomed Sierra Leone's participation in the Joint Initiative on Investment Facilitation for Development. Some Members welcomed Sierra Leone's recent endorsement of the Statement in Support of the Rules-Based Multilateral Trading System, considering it a strong affirmation of the WTO's central role in upholding the global trading framework amid ongoing geopolitical dynamics. Some Members also encouraged Sierra Leone to consider joining the Multi-Party Interim Appeal Arbitration Arrangement and to participate in the initiatives on e-commerce and domestic regulation of services.

While Sierra Leone's WTO participation was largely praised, Members expressed concerns over the significant number of outstanding notifications and urged the authorities to take appropriate measures to address this issue and seek Secretariat support where necessary. Resolving these outstanding notifications would help further reduce uncertainty and lower the costs associated with accessing trade information for partner countries and potential investors.

Trade policy reforms gained increasing importance within Sierra Leone's broader development agenda during the review period. Members welcomed the adoption, in 2020, of a National Trade Strategy aimed at promoting economic diversification by strengthening regional integration and enhancing competitiveness. They encouraged Sierra Leone to leverage its access to unilateral preferential schemes and its membership in regional frameworks such as the African Continental Free Trade Area and the Economic Community of West African States.

Members considered the growing importance of trade in driving Sierra Leone's development as a positive development. They commended recent initiatives in various trade-related areas, including the launch of an electronic single window to streamline customs processes and reduce trade costs; the implementation of the ECOWAS Common External Tariff; measures to rationalize tax and duty exemptions; and steps to improve the governance of state-owned enterprises.

Members acknowledged the need for improvements in Sierra Leone's legal and institutional frameworks on SPS and TBT measures. They encouraged the authorities to pursue comprehensive reforms to modernize these regimes, with the goal of enhancing the competitiveness of Sierra Leone's agricultural and manufacturing sectors and boosting trade.

The documents prepared for this meeting, along with the questions, answers, and discussions held on Tuesday and today, have greatly enhanced our understanding of the challenges Sierra Leone has faced over the past eight years, as well as the opportunities that lie ahead. Importantly, this Review has also served as a valuable platform for trade and development partners to reaffirm their support for the country. I encourage the authorities of Sierra Leone to give due consideration to the constructive suggestions put forth by Members during this Review. I commend them for their comprehensive written responses to all questions received.

In conclusion, I wish to express my gratitude to all delegations for their valuable contributions to the successful conduct of Sierra Leone's Trade Policy Review. I also extend my thanks to all participants for their engagement, as well as the Secretariat and interpreters for their essential support in organizing and facilitating this Review.