The Council of the European Union (EU) this Monday gave the green light to an agreement that facilitates investments between the community bloc and Angola and aims to allow Luanda to diversify the country’s economic model.
In a statement, the EU Council announced the signing of an “agreement to facilitate sustainable investment between the European Union and Angola.”
“The agreement will facilitate, attract and expand investment and at the same time integrate commitments on environmental protection and labor rights into the EU-Angola relationship,” it said.
In the first stage, the agreement provides for the diversification of the “Angolan” economic model (the country has an abundance of raw materials and energy resources) for a period of 20 years by attracting investors who will also help Angola achieve its goals. “climate of commitment.”
Angola is the seventh largest investment destination on the African continent for European investors, accounting for 5.4% of all European direct investment.
The agreement is the result of negotiations that ended in November 2022 and the EU requires the consent of the European Parliament for its implementation.
Author: Lusa
Source: CM Jornal
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