Africa-Press – Angola. Angola and the European Union (EU) signed, this Friday, in Luanda, the first Sustainable Investment Facilitation Agreement (AFIS), within the scope of bilateral strategic cooperation.
The signing of the respective agreement, within the framework of the 2nd Angola/European Union Business Forum, was the responsibility of the Minister of Economy and Planning, Mário Caetano João, and the representative of the presidency of the EU Council of Ministers, Manuel Maria Lobo.
This document aims to facilitate the attraction, expansion and retention of the integrated development environment between the parties, for the purposes of economic diversification and sustainable development.
The partnership will also support the creation of a conducive business environment to facilitate the attraction of investments, as well as ensuring greater sustainability of investments.
With this agreement, Angola intends to join the Economic Partnership between the EU and the Southern African Development Community (EU-SADC EPA), in order to guarantee privileged access for Angolan exports to the European market.
According to the Minister of Economy and Planning, Mário Caetano João, the agreement will facilitate investments on both sides, increasing the business volume portfolio, currently valued at US$25 billion, with US$14 billion for imports from Angola and 11 billion for the EU.
Mário Caetano João also stated that it is the first agreement that the European Union has made, especially with an African country, a fact that will encourage European economic operators to invest in Africa.
In turn, the representative of the presidency of the Council of Ministers of the European Union, Manuel Maria Lobo, considered that Angola is one of the most important investment destinations on the African continent for European investors.
He considered that the signing of the Sustainable Investment Facilitation Agreement will lead to a notable improvement in the investment climate and will facilitate the mobilization and retention of investment between Angola and the European Union.
“This agreement will also contribute to helping to diversify Angolan economic activities and promote Angola’s integration into the world economy”, he highlighted.
According to the person responsible, the document will now go to the European Parliament for approval, with a view to coming into force in the coming months.
Negotiations for this Agreement began in September 2020, with its conclusion taking place in November 2022.
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