The Minister of Trade and Industry, Dr. Edward Hinga Sandi has announced that the trade agreement that was signed by the Government of Sierra Leone and four manufacturing companies will start working on the production of fresh fruits and cements at different locations in the country.

The increase in price of cement and basic food stuff has been a great concern raised by Sierra Leoneans as many believed that, the Ministry of Trade and Industry needs to double up their speed in fixing issues related to the ministry.

In the documents from the Ministry, the agreement worth at 115million dollars and the ministry has the mandate to develop policy, plans and activities to promote local and export trade as well as support different private sector investments to boost the country’s economy.

Speaking on the importance of this agreement, the minister said, this will greatly contribute to the country’s economy and improve on the export value.

Related News

‘’Manufacturing is going to contribute to the GDP in a very considerable way, part of the reasons why we are seeing our ‘Leones’ devaluing, somehow is as a result of the imbalance between what we import and what we export, getting more manufacturing companies in Sierra Leone is going to help to cut down on our import because, most of them will be producing those things we have been used to importing in this country. A lot of them are going to be also exporting which may also increase our export value,” he explained.

He furthered that; this will greatly help in creating job opportunities for the youths, and foreign currencies coming into the country.

The minister stressed on the point that the brining of more factories in Sierra Leone will create a room for greater competition and quality in the production of products as well as in the price control scheme. This will create an environment that will be enabled which may attract more investors.

Referencing the companies he disclosed that, one of the companies is a cement manufacturing company from china who are here not only to work on the availability of cement but also in establishing a ‘Grinding Mill’ which will be the second in the country after LEOCEM and that will be located in Waterloo, which may also create room for the decentralisation of factories as well as other companies in the country.

He continued that, the Ministry of Trade has gone further to establish the Consumer Protection Commission which is a new office that will be going to be looking at a wider range of consumer protection issues ranging from price, quality of product and more. They will represent mainly the interest of the consumers as compared the Standard Bureau.