Luanda – Angola is committed to the elimination of trade restrictions in Africa and has been holding discussions with the Directorate of Trade of the European Commission to start business on the Economic Partnership Agreement (EPA) with the European Union.
According to Angola’s Secretary of State for Commerce, Amadeu Nunes, the country authorities are working on the implementation of the SADC Free Trade zones and the African Continental Free Trade zone with focus on procedures to increase investment attraction and ensure gains from international trade.
Amadeu Nunes, who was speaking Thursday in Luanda at the Argentina/Angola Business Forum, added that in addition to international commitments in various fields, Angola began a cycle of legal and institutional reforms that culminated in the review and amendment of the legal framework linked to private investment and the adoption of the Law on Competition and Public Contracting.
Secretary of State for Commerce highlighted that with the new law, private investors in Angola enjoy greater protection and guarantees from the Government and no minimum amount or local partnership are required.
He recalled that economic diversification is a priority for the Government of Angola and there is a set of actions included in the programs aimed at the productive chains of cement, textiles, beverages, wood, fisheries products and ornamental stones, thus encouraging relations multi-sectoral, with a view to the growth of local production.
Amadeu Nunes said that Argentina is an important country for establishing investments in areas such as technology and industry.
On his turn, the undersecretary of the Ministry of Foreign Affairs, Commerce and Worship of Argentina, Ramiro Ordoqui, indicated that “it is necessary to increase and diversify commercial ties and include sectors of joint cooperation, aiming at new products, with greater added value, that can contribute to the generation of quality jobs in both countries”, he stressed.
He mentioned that Argentina not only offers goods and services in the agro-industrial sector, but also has capacity in other sectors, such as medicines, medical equipment, renewable energy technologies, medical consultancy, among others.
In turn, the Argentine ambassador to Angola, Alejandro Verdier, said that Argentina is certain that the mission of businessmen from his country to Angola will give new impetus to cooperation and commercial exchange between the two countries.
“We are very happy for the determination of the companies, not only to do business, but also to establish partnerships and find representatives who can work here (Angola) and in Argentina”, he stressed.
For the chairman of the Board of Directors of the Investment and Export Promotion Agency (AIPEX), Lello Francisco, Argentina is the third largest economy in South America, reason enough for Angola to expect investors from there in various domains.
Trade between Argentina and Angola has grown in the last two years and reached a turnover of US$200 million in 2022.
The Argentina/Angola Business Forum, which runs for two days, aims to identify business opportunities between Argentine and Angolan businessmen, in an initiative of the Argentine Ministry of Foreign Affairs, International Trade and Worship and the embassy of that Latin American country to Angola.
The event brings together more than 20 Argentine companies from health, agribusiness, industrial machinery, renewable energies, food, oil and gas and telecommunications sectors and Angolan businessmen from various sectors, for partnerships and reinforcement of cooperation between the two countries. MOY/AC/DOJ
