Africa News Bulletin

Angola approves investment facilitation agreement with the European Union

This Wednesday, the Council of Ministers approved the Sustainable Investment Facilitation Agreement between Angola and the European Union, becoming the first country to establish a commitment of its kind with the bloc.

The Government intends, with the agreement, to stimulate the attraction, expansion and retention of foreign direct investment between the parties, for the purposes of economic diversification and sustainable development.

The Minister of Economy and Planning, Mário Caetano João, justified the agreement with the level of exchange between the parties.

In the last three years, Angola has accumulated investments in the European Union worth 3.5 billion euros. The trade balance is favorable to Angola with exports reaching 13.3 billion euros (dominated by oil) and imports at around 11.6 billion.

Jornal de Angola

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top