House Concurs With Senate On Africa Corporation Accord
By Hilary Vasco Wiagbe
MONROVIA, July 7(LINA) - The House of Representatives has concurred with the Liberian Senate in ratifying the “Agreement for the Establishment of Africa Corporation” based on recommendation by the House Committee on Foreign Relations on Tuesday, July 7.
The agreement signed by all African Heads of State on May 28, 2007 in Abuja, Nigeria, was turned over to the Liberian Senate for ratification on July 11, 2011.
After thorough analysis, the Liberian Senate ratified the agreement and forwarded it to the House of Representatives in September, 2013 for concurrence.
In its report submitted to Plenary Tuesday, the Committee said it conducted a number of consultations with key stakeholders in an attempt to establish the veracity of the agreement and the benefits that would accrue to the people of Africa during deliberations on the instrument.
According to the House Committee on Foreign Relations, benefits African States and their residents stand to accrue from the agreement include trade and commerce, industry, technology, agriculture, and general economic cooperation, among others.
The Committee therefore recommended that Plenary concurs with the Liberian Senate to ratify the agreement to ensure that the social and economic benefits to the people of Africa come into full swing.
African Heads of State have already signed the protocol and it has been awaiting ratification by their respective Legislatures before it comes into effect, the House Committee on Foreign Relations disclosed.