Angola and the United States are set to re-establish their two-way Trade and Investment Framework Agreement (TIFA) at a meeting due to take place in Washington on 1 and 2 April, the US Embassy in Angola said in Luanda.
The meeting of the TIFA council, which will be held at the US Department of Trade, on Angola’s side will be attended by a delegation headed by Trade Minister, Rosa Escórcio Pacavira.
TIFAs provide strategic frameworks for regular high-level dialogue on trade and investment issues between the United States and developing countries, which have the opportunity to make use of the economic and trade conditions that the US economy offers.
The document adds that the Council, which was created as part of the TIFA between Angola and the US, in 2010, is charged with supervising trade and investment relations between the two countries, as well as identifying opportunities for expanding trade and investment.
The statement also noted that as well as with Angola, the US has signed similar agreements with other African countries such as Ghana, Mauritius, Liberia, Mozambique, Nigeria, Rwanda and South Africa.
TIFAs have also been signed with several economic communities, namely the Common Market for Eastern and Southern Africa (COMESA), West African Economic and Monetary Union (UEMOA) and the East African Community (EAC). (macauhub)