Angola to diversify exports to the USA

29 June 2010

Luanda, Angola, 29 Jun – Angola should soon begin exporting agricultural and agro-industrial products to the market in the United States of America, to which it already sends oil and natural gas, officials from both countries stated on Monday in Luanda.

After the opening of the Trade and Investment Council meeting, held per the Trade and Investment Framework Agreement (TIFA), the head of the US delegation, Florizelle Lizer, said the US federal government aimed to diversify commercial exchanges with Angola, to enhance the investment climate and attract more American entrepreneurs to the Angolan market.

Lizer mentioned concern about certain tariff barriers and a business environment which to a certain extent discourages some American entrepreneurs interested in investing in Angola.

Regarding the TIFA, Lizer explained that the protocol is meant to help expand bilateral trade and partnership between Angolan and American companies.

Angola’s Vice-Minister for Commerce, Archer Mangueira, said his country had the potential to export products such as bananas, pineapples, honey, coffee, fish, wood and granite, among other goods.

The TIFA was signed in 2009. It is a US government bilateral consultation mechanism meant to promote trade and investment and in the future may lead to the signing of agreements for reciprocal promotion and protection of free-trade agreements and investments.

Delegations from both countries will meet next October at a place still to be determined, to finalise the trade cooperation and working plan begun on Monday in Luanda. (macauhub)