The SIFA agreement aims to facilitate the attraction and expansion of investment, while integrating commitments on environmental and labor rights into EU-Angola relations and supporting Luanda's efforts to improve the investment climate, namely by facilitating the process of creating companies.
In Angola, the SIFA should contribute to stimulating lasting investments, committing the EU to provide technical support to be put into practice.
Once the Council gives the green light to the SIFA, the EU can sign the agreement with Angola, which will still have to be approved by the European Parliament before it comes into force.
The SIFA, whose negotiations were concluded in November 2022, is part of the broader framework of the Global Portal strategy, which aims to intensify the dialogue between the EU and African countries.
