-Urges Self-Reliance
By VAYE ABEL LEPOLU
Monrovia – Former Minister of Commerce and Industry Amin Modad has expressed strong support for President Joseph Nyuma Boakai’s decision to refocus cabinet discussions on microeconomics and trade, describing it as a timely step toward reshaping Liberia’s economy.
Modad, who served under President Boakai over one year before his resignation as Commerce minister based alleged corruption allegations that have been made by citizens against him, noted that the President’s emphasis on trade aligns with the vision he championed during his tenure at the Ministry of Commerce.
“I am pleased to learn from the Executive Mansion’s update that President Boakai has centered cabinet deliberations on trade and microeconomics,” Modad stated. “When I was Minister, I battled to underline the importance of trade in Liberia’s socioeconomic development. I would even joke that the ‘T’ in ARREST stood for Trade—and tourism, as the global trade system defines it, is a tradable service.”
According to Modad, Liberia’s economic progress depends on moving beyond raw exports and positioning Liberians along the value chain. He cautioned that the nation’s heavy reliance on foreign aid—worsened by the withdrawal of USAID programs and shifting U.S. foreign policy—has left the country vulnerable.
“Over-dependence on aid undermines our self-sufficiency and our ability to negotiate on our own terms,” he stressed. “But these challenges also present opportunities to rethink our foreign policy and trade strategy. If we are strategic, Liberia can chart a new course driven not by aid, but by harnessing our comparative advantages.”
Modad, who once worked directly with President Boakai on trade and investment matters, outlined six areas he believes are crucial for Liberia’s transformation: Strengthening the Rule of Law through an independent and efficient judiciary.
Improving the Investment Climate by reducing bureaucratic bottlenecks and creating a predictable environment for entrepreneurs and investors.
Rethinking Foreign Policy to prioritize reciprocity and mutually beneficial partnerships, especially within Africa. Supporting Liberian Businesses with access to finance and a greater role in resource exploitation and value addition.
Tapping Regional Trade Opportunities under ECOWAS and the African Continental Free Trade Area (AfCFTA).
Investing in Human Capital by improving the quality and relevance of education to meet modern economic demands. Modad concluded that President Boakai’s leadership presents a pivotal moment for Liberia to shift from dependency to self-reliance, provided trade and value addition remain at the center of national policy.
