Africa-Press – Liberia. The Vice President of Liberia Jeremiah Kpan Koung has called for stronger economic partnerships between Africa and India, with a particular focus on transforming Liberia’s agricultural sector.
In his speech delivered at the 19th India-Africa Business Conclave in New Delhi, India on Wednesday, August 21, Koung emphasized the importance of building on the success of previous conclaves to foster deeper economic cooperation between the two regions.
The high-profile gathering at the Taj Palace Hotel drew political and business leaders from across Africa and India, offering a unique platform for advancing trade and investment initiatives that could reshape the economic landscapes of both regions.
Koung stated, “Since the African Continental Free Trade Area came into force in 2021, African countries have been working very hard to improve intra-Africa trade. As the second-largest continent with a combined population of 1.4 billion people, Africa offers one of the largest available markets to boost international trade and investment.”
He commended India for its remarkable contributions to fostering these trade relations, particularly noting that the bilateral trade between the two regions has grown to over $100 billion.
Representing President Joseph Nyumah Boakai Sr. and the people of Liberia, Koung highlighted Liberia’s long-standing diplomatic relationship with India, which spans over six decades.
He pointed to key trade partnerships, particularly under India’s Duty-Free Tariff Preference Scheme for Least Developed Countries (LDCs), which has enabled Liberia to expand its export markets and bolster economic cooperation.
The bilateral trade volume between the two nations currently stands at over $325 million, further supported by the presence of more than 150 Indian companies operating in Liberia.
Koung lauded India’s achievements as the world’s largest rice exporter, noting its staggering export of 16.5 million metric tons of rice in 2024. He underscored Liberia’s interest in learning from India’s agricultural success as part of President Boakai’s vision to transform Liberia’s agricultural sector.
“Although India is Liberia’s main importer of rice with an annual cost of about $140 million, I have come to seek knowledge on the skills, expertise, and technology India has deployed over the years to have a vibrant agriculture sector,” Koung remarked.
He emphasized Liberia’s commitment to shifting from rice importation to local rice production, citing the recent launch of Liberia’s National Agriculture Development Plan (NADP). This six-year plan aims to transform Liberia into a self-sufficient nation when it comes to food by leveraging its rich agricultural resources.
“Our goal in Liberia is to shift from rice importation to rice production in the medium to long term, and invest in local farmers by providing capital, skills, technology, and equipment for local production,” Koung said.
Beyond agriculture, Koung used the conclave as a platform to attract investors across various sectors in Liberia, underscoring the government’s dedication to creating an investment-friendly environment.
“Our government’s ARREST agenda is critical for transforming the lives of our people. To achieve socio-economic development, we must create jobs for our citizens! I remain hopeful that this Business Conclave and the planned meetings will solidify new partnerships and offer renewed hope for our people,” Koung asserted, highlighting the administration’s focus on fostering international partnerships.
He continued, “My presence at this Business conclave is an affirmation of our government’s commitment to seek potential investors specifically in the agricultural sector and to also encourage investments in other sectors which are mutually rewarding. As a government, we have the responsibility to engage our international partners and friends on the opportunities Liberia offers for investment and trade.”
Koung concluded his address by reaffirming Liberia’s commitment to strengthening its friendship with India and expressed optimism that the conclave would lead to new and beneficial partnerships for both nations.
“I am convinced that this friendship will continue to grow on the strength of our collective understanding that we live in a global community, and we ultimately need each other to survive!” Koung declared, encapsulating the spirit of international cooperation at the conclave.
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