MONROVIA, LIBERIA-In an effort to revitalize Liberia’s Rubber Sector and foster inclusive economic growth, President Joseph Boakai has signed Executive Order No. 151, instituting sweeping measures to restrict the export of unprocessed rubber and promote domestic value addition.

The Executive Order aims to transition the sector from an extractive, raw material export economy to a value-added, job-creating sector that supports GDP growth, employment, and export earnings.

Key provisions of Executive Order 151 stipulate that the export of unprocessed rubber, including natural latex, cup lump, bark scrap, ground scrap, and other forms listed under Schedule A, is now restricted. Only processed rubber, such as Technically Specified Rubber, is exempt.

The Executive Order states that exporters must comply with new fiscal obligations, including a four-percent presumptive tax, Rubber Development Fund Incorporated Fees, and a surcharge of one hundred fifty US Dollars per metric ton.

Accordingly, the Order provides that exporters must present official tax and fee receipts, a valid tax clearance, and secure approval from the Ministry of Agriculture, followed by an Export Permit Declaration issued by the Ministry of Commerce and Industry.