On Tuesday 22 June, the European Commission started its first round of negotiations with the Republic of Angola on an investment facilitation agreement. This follows the EU Council’s green light on 27 May for the negotiation of this agreement, the first of its kind for the EU (see EUROPE 12728/19).
In its trade policy review, which was published in February, the European Commission emphasised the need to diversify trading partners and to look increasingly to Africa.
According to EU Trade Commissioner Valdis Dombrovskis, “Africa is our nearest neighbour and we should develop our partnership of equals”.
To do this, the agreement will have to increase the transparency of investment measures, simplify certain procedures, encourage public-private dialogue, and promote sustainable development and responsible investment.
To support the Angolan economy, the agreement should also contribute to the country’s economic diversification, help SMEs that are struggling to invest abroad, and make Angola more attractive to investors. (Original version in French by Léa Marchal)