CLEAN : Liberia joins World Trade Organization

Liberia's accession to the World Trade Organization (WTO) marks a significant milestone in its economic transformation journey. Despite challenges, Liberia is determined to rebuild and become a full WTO member, recognizing trade as crucial for growth and development. The country has developed a comprehensive plan to meet WTO requirements, aiming to enhance economic diversification and improve livelihoods. This accession is a proud moment for both Liberia and the WTO, as Liberia becomes the 35th least developed country member, highlighting the importance of integrating LDCs into the global trading system.

What is the significance of Liberia's accession to the WTO?

• It marks a turning point in Liberia's economic transformation.

• It signifies the end of Liberia's economic challenges.

• It indicates Liberia's withdrawal from international trade.

• It shows Liberia's dominance in global trade.

What challenges did Liberia face on its road to WTO accession?

• Lack of international support

• Excessive trade surpluses

• Overwhelming economic growth

• Rebuilding after a long period of devastation

What is Liberia's commitment towards WTO membership?

• To become a passive member

• To reduce international trade involvement

• To meet all requirements and become an active member

• To focus solely on domestic trade

How will Liberia's WTO membership impact its economy?

• It will lead to economic isolation.

• It will diversify the economy and improve livelihoods.

• It will eliminate trade barriers completely.

• It will decrease economic growth.

What is the significance of Liberia becoming the 35th LDC member of the WTO?

• It shows the decline of LDCs in the WTO.

• It highlights the integration of LDCs into the multilateral trading system.

• It marks the end of LDC participation in global trade.

• It indicates a reduction in WTO membership.