Portugal: Government approves agreement with Angola for reciprocal investment protection

17 July 2008

Lisbon, Portugal, 17 July – The Portuguese government Wednesday approved a law relating to an agreement signed in February of this year between Portugal and Angola for the reciprocal protection of investments.

According to Portugal’s Foreign Minister, Luís Amado, the investment protection agreement between Portugal and Angola, “already exists with other countries in which on the Portuguese side there are investment relations.”

A statement from the Council of Ministers said that the deal “aims to ease economic cooperation” between Portugal and Angola, “creating favourable conditions for investments, boosting cooperation between nationals and companies, whether they be private or public, namely in the areas of technology, industrialization and productivity.”

“This agreement makes it possible to establish an appropriate international flow of capital, respecting the sovereignty and laws of the State and protecting the transparency of capital with a view to promoting the economic prosperity of both countries,” the government added. (macauhub)