Angola’s “doors are open” to investment from companies from the United States, Angola’s Trade Minister, Rosa Pacavira said after signing the re-launch of a two-way Trade and Investment Framework Agreement (TIFA).
Pacavira said that execution of the deal signed in 2010 and now re-launched, would allow Angola to become more competitive in its relationship with the United States and that conditions would be set up to improve its position in world trade.
“Angola signed [the agreement] in 2010 and, after a four-year pause, we felt that this was the right time to re-launch it,” the minister said cited by Portuguese news agency Lusa.
The TIFA is intended to boost trade relations between the US and developing countries and similar agreements have been signed with several African countries such as South Africa, Nigeria, Mozambique, Ghana and Rwanda, and with economic blocks such as the West African Economic and Monetary Union (UEMOA), the Common Market for Eastern and Southern Africa (COMESA), and the East African Community (EAC).
In 2013 Angola exported products to the US worth around US$8.7 million and imported products from the US worth US$1.4 billion. (macauhub)