Liberia’s Investment Act of 2010 permits foreign investors to invest in Liberia but explicitly excludes foreigners from participating in several sectors of the economy, including land ownership. See further detail in the Investment Statement under the topic, “Limits on Foreign Control and Right to Private Ownership and Establishment.”  Non-tariff barriers include opaque administrative procedures that foster corruption and bribery. These issues, coupled with porous borders and nonexistent protection of intellectual property rights, have resulted in low trade tax collection, high levels of smuggling, and increased informal cross-border trade.

Since 2019, executive orders have been in effect to eliminate the requirement of Import Permit Declarations (IPDs). According to MOCI, the removal of the IPD is part of the government’s effort to improve the business climate by removing technical barriers to trade. However, those same executive orders declared the government’s right to impose surtaxes “on goods imported into the country that are in competition with local manufacturers,” suggesting the possibility for future restrictions on imports.