Liberia signed a new agreement with Firestone Tire & Rubber Co., the West African country’s biggest private employer, Agriculture Minister Christopher Toe said. The accord was signed on Feb. 22 and includes higher taxes, a reduction of the term of the contract by fifty years, better housing for workers and full compliance with environmental and management laws, Toe said in an interview in the capital, Monrovia, yesterday. The contract was reviewed after President Ellen Johnson-Sirleaf said an agreement signed in 2005 was unfavorable to Liberia. “In several respects this is not only a better agreement, but also a landmark that can be used for other plantations in Liberia growing rubber and palm oil,” Toe said. (Bloomberg)

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