The ECOWAS Regional Competition Authority (ERCA) conducted an advocacy and sensitization meeting on Competition and Consumer Protection laws in Monrovia, Liberia, from May 20-22, 2024. The event aimed to discuss and analyze existing legal and regulatory provisions on competition in Liberia, identify gaps, and collaborate with the government and other stakeholders to develop effective competition and consumer protection laws.
Key stakeholders present included representatives from various ministries, government agencies, the Manufacturing Association of Liberia, banking and financial services sectors, the private sector, the Chamber of Commerce, and consumer protection bodies. The ultimate goal is for Liberia to establish modern competition legislation that aligns with regional and continental frameworks.
Dr. Konan Simeon Koffi, Executive Director of ERCA, welcomed participants on behalf of Madame Massandjé Toure-Litse, Commissioner for Economic Affairs and Agriculture. He expressed gratitude to the Liberia Ministry of Commerce and Industry for their collaboration in hosting the meeting. Dr. Koffi emphasized the importance of cooperation between ERCA and national stakeholders to strengthen mechanisms for information sharing, national ownership of the regional competition framework, capacity building for stakeholders, and enforcement of competition law.
Her Excellency Madam Josephine Krumah, ECOWAS Commission Permanent Representative to Liberia, conveyed gratitude on behalf of President Dr. Omar Alieu Touray. She reaffirmed ECOWAS's commitment to economic integration through promoting competition and consumer laws in the region. Madam Krumah highlighted that this initiative aims to create a National Competition body in Liberia to enforce competition law effectively.
Deputy Minister Wilmot Reeves delivered opening remarks on behalf of Honourable Amin Modad, Minister of Commerce and Industry of Liberia. He extended a warm welcome to participants and thanked ERCA for organizing the meeting. The Deputy Minister noted that Liberia is working towards establishing a national Competition Authority and enacting comprehensive competition laws.
"The global economy is rapidly evolving," stated Honourable Modad. "Liberia’s pursuit of a well-defined competition policy is not merely an option but a necessity."
The meeting featured presentations on ECOWAS's competition framework as well as discussions about Liberia's current status regarding competition law enforcement. Participants considered continued collaboration essential for raising awareness about competition issues.
The gathering concluded with recommendations for ERCA to assist Liberia in reviewing its laws while leveraging these regulations to support small- and medium-sized enterprises (MSMEs). Following the main event days included bilateral sessions between ERCA delegates and various Liberian entities such as businesses, the National Standards Laboratory, legislative committees on commerce, bankers' associations, and pharmaceutical boards.
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