Luanda - A memorandum of understanding to strengthen partnerships and boost trade between the United Kingdom and Angola was signed Friday in Luanda between the Angola/United Kingdom Chamber of Commerce and Industry and the Industrial Association of Angola (AIA).
The agreement, signed by José Severino, president of the AIA, and Thomas Reis, president of the chamber, aims to facilitate the production, import and export of products by entrepreneurs from both countries.
For José Severino, who was speaking to the press, the United Kingdom is a country of importance in terms of development and with this memorandum, national entrepreneurs can take advantage of it, streamlining production processes and exporting their products.
‘The UK is very committed to diversifying our economy, with well-defined programmes, such as the tax exemption programme, market studies, collaboration in the certification of Angolan products and participation in technology fairs in this European country,’ he said.
This memorandum, he pointed out, is a sovereign opportunity to diversify exports, for example coffee, cocoa, cotton, and the UK can help Angola with a programme to replace around US$2 billion in imports of raw materials.
Thomas Reis, meanwhile, believes that the memorandum shows AIA members and businesspeople in general that the UK is a potential market for receiving products from Angola.
He pointed out that the most important products in trade between Angola and the UK are oil, gas and financial products, but the African country has potential in various sectors such as tourism and agriculture, areas in which British companies could intervene.
Paulo Baptista, an Angolan businessman from Fazenda Santa Teresa, said that with the memorandum of understanding signed by AIA and the UK/Angola Chamber of Commerce and Industry, it will be possible to identify national producers willing to export to the European market, with exemptions.
‘This opens up a window of opportunity for all of us, especially those who produce. Exporting helps to raise foreign currency and acquire raw materials abroad to continue the production process,’ he emphasised.
British businessman Paul Wesson, from Ecotur Angola, said that the agreement will bring the two countries closer together economically and increase the exchange of experiences between businesspeople who want to export and import.
He said that the tax exemption for ‘made in Angola’ products to be exported to the UK would make the African country more competitive on a global level.
He pointed out that one of Angola's great strengths is tourism, which, if it is boosted, as is being done by the Angolan authorities, will bring in more foreign exchange, employment and a large movement of tourists to appreciate and love this rich land.
The UK's new Developing Countries Trade Scheme (DCTS) provides duty-free and quota-free access to the UK market for products from 37 countries in Africa, 26 in Asia/Oceania/Middle East and 2 in the Americas, representing diverse and attractive trade opportunities around the world.
The focus of this scheme is to reduce the cost of imports by more than £770 million a year, benefiting exporting countries and companies, as well as UK consumers and businesses.
By reducing tariffs, this trade regime supports export-led growth and development, in the case of Angola, and benefits UK consumers and businesses by also reducing import costs. AC/DAN/DOJ
