Unfavorable trade regulations significantly hinder export mainly by increasing the time and cost associated with documentary and customs compliance procedures for agribusinesses, according to the Executive Secretary of the Sierra Leone Chamber for Agribusiness Development (SLeCAD).
Ahmed Nanoh told a news conference in Freetown on Friday that to export goods in a container, businesses must pay over a dozen charges, and these charges are being handled by different institutions located at different areas.
He said the many charges contribute in creating less conducive business environment which impedes agribusinesses by increasing trade costs.
He said that some of the charges agribusiness should meet include phytosanitary, certificate of origin, 2.5 percent export levy, export licence fee, port charge, ITS -1% of import value, container scanning, ASUCUDA fee, agency fee, administrative charge, GST on agency fee, and fee to standard Bureau.
He said the process impeding the growth of agribusinesses and discourage export.
Nanoh said that they have been agitating for over seven years now for government to streamline export processes to enhance export and increase foreign earning, but little has been done in that direction.
By George M.O. Williams