"It is the first agreement of this type", said Rita Laranjinha, "an agreement to facilitate sustainable investment that was signed with Angola" and is now in the ratification phase.
The idea of this new type of agreement is "to support and go further in the analysis of all the difficulties of investing in Angola and to support Angola to facilitate the improvement of its business climate and all types of support that combine with these efforts".
"If it works, (the EU) wants to engage with other countries in Africa", because, at European Union level, "we are always looking for new ways to interact" with other countries.
Rita Laranjinha was the main speaker in a debate on "Opportunities and challenges of internationalization and EU/Africa trade" at the EurAfrican Forum, which takes place in Carcavelos, near Lisbon.
The EU is Africa's number one trading partner, with a substantial difference to other global competitors, accounting for 31 percent of African exports, which compares with 19 percent of its trade to China and 6 percent to the US, recalled this responsible.
The same is true with regard to foreign direct investment, which in 2020 reached a value of 160 billion euros in Africa, which compares with China, 48 billion in China and 43 billion in the United States, according to data advanced by the responsible EU.
The strong relationship between the two continents is very important, he considered, and this is largely due to the trade instruments put in place, which allow 90 percent of African exports to the Union to be duty-free, and trade agreements that are based on partnerships and look to development and cooperation.
In the challenges, Rita Laranjinha recognized some as the regulation on deforestation "which, she said, will be a difficulty for the African partners, but they will have to adapt.
"It would be interesting if, together with the private sector (...) we could also reflect on the best way to approach these new regulations, and help companies to overcome these challenges", she said.
Rita Laranjinha underlined the importance of initiatives such as the EurAfrican Forum to circulate knowledge of opportunities and ways to overcome challenges and recalled that there are 49 European Union delegations in Africa willing to help.
The EuroAfrican Forum 2023 ends this Wednesday, in Carcavelos, and for two days it was attended by members of governments, decision makers, investors, managers and academics from around a dozen countries, with the aim of exploring opportunities and analyzing projects concrete steps to bring Europe and Africa closer together.
In this 6th edition, the central theme is the growth opportunities for the alliance of the two continents.
