Luanda - The European Union (EU) and Angola will soon begin the negotiation process to establish a bilateral agreement that will facilitate investment in the southern African country.
This is the first bilateral agreement of this type that the EU will sign with an African country, said this Friday in Luanda, the European Union ambassador to Angola, Jannette Seppen.
Jannette Seppen, was speaking at the meeting of the Steering Committee of the Trade Support Project, financed by the EU and technically executed by the United Nations Conference on Trade and Development (UNCTAD).
According to the source, when one talks about the economy, trade and investment one must be recognize the main player involved: the private sector.
The UN official indicated that the Angolan market is showing great interest and great potential for the European private sector.
In regard to the Revision of Agreements with the graduation of Angola to Middle Income country, the EU ambassador in Angola said that it is necessary to review the commercial agreements between the parties.
She also assured that Angola will continue to benefit from preferential market conditions in its relations with the EU.
In this regard, she said that a working group was created to establish the guidelines for what will be the negotiation process for Angola to be able to join the Economic Partnership Agreement between the EU and SADC.
She said that this move will also reinforce the current integration process, both in the free trade area of SADC and in the continental free trade area.
The minister of Industry and Commerce, Victor Fernandes, indicated that the country will continue to count on the support of its international partners to place the Angolan economy at the service of development, progress and the well-being of the populations.
Minister Fernandes, recalled that the government launched a programme of political, economic and social reforms to improve the business environment, simplify and reduce the procedures related to imports and exports, as well as attracting private investments.
The country also proceeded to create new Laws, which focus on the investment, competition and Public Procurement component, as well as the process of transferring competences and attributions to municipalities.
The current Private Investment Law provides greater protection and guarantees from the State to the private investor, in addition to liberalizing investment without minimum amounts or the obligation to make foreign investment conditional on the entry of a national partner.
"The country has also adopted a new policy for granting visas and we are studying the best way to reduce costs to facilitate trade without disrupting public revenues, with the entry into operation of the National Committee for Trade Facilitation”, said the minister.
The second meeting of the Steering Committee of the Trade Support Project assessed and validated the training proposals that may be included in the remaining funds of the ACOM Project for the European Union Delegation to subsequently prepare the addendum to the contract with UNCTAD.
The Steering Committee (SC) is an organ chaired by the Minister of Industry and Commerce and its mission is to supervise and provide general guidance for the ACOM Project, by making strategic decisions and monitoring its execution.
