Negotiations between Portugal and Angola on investment agreement begin soon

21 March 2007

Lisbon, Portugal, 21 March – The negotiations between Portugal and Angola for investment protection and double taxation agreements are due to begin “within a few weeks” said the Angolan Foreign Minister, João Miranda in Lisbon Tuesday.

The Angola minister, who was speaking to the press after a meeting with Portuguese businesspeople, added that the agreement was being assessed by the Portuguese Foreign Ministry, but declined to give a date for negotiations to end.

At Miranda’s meeting at the headquarters of the Portuguese Industrial Association (AIP) were companies such as Efacec and Mota-Engil, and business associations from the pharmaceutical, metallurgy, wood and furniture sectors.

According to Miranda, investment by Portuguese businesspeople in Angola is “important” because of its quality, despite its quantity being behind that of other countries.

“Although it is not a big amount (the investment) it is implemented by people that know Angola better and have a way of thinking that is closer to our own, which makes negotiation and problem resolution easier,” he said. (macauhub)