According to an EU statement, the so -called Sustainable Investment Facilitation Agreement (AFIS) is the first of this type that the EU celebrates, to promote sustainable investments in the context of its involvement with African partners.
“AFIS UE-Angola will allow you to attract and expand sustainable investments, simultaneously integrating commitments on sustainable development in EU-Angola relations,” the document stresses.
The note points out that the EU is committed to reinforcing the sustainability of its trade policy, as established in the new trade strategy, so this agreement will contribute to boosting sustainable investment in Angola, which will have the EU technical support to put it in practice.
“Angola seeks to diversify his economic model, currently based on the abundant raw materials and energy resources he has. AFIS will also support Angola's efforts to improve investment climate for foreign and local investors, especially small and medium enterprises, ”the document reveals.
In addition to this agreement, Angola intends to join the Economic Partnership Agreement between the EU and the Southern African Development Community (EU-SADC), to ensure the privileged access of Angolan exports to the EU market.
The celebration of sustainable investment agreements with Africa and the southern neighborhood is part of the wider strategy of the EU, in order to intensify dialogue with African countries through the “Equal to -to -equal partnership” approach.
The document reports that the goal "is to free economic potential, foster economic diversification and promote inclusive and sustainable growth."
"These agreements are intended to reinforce sustainable trade and investment links between both continents and in Africa itself, in line with the Global Gateway strategy," the note adds.
The agreement has as its main elements the reinforcement of transparency and predictability of investment -related measures, for example, publishing all legislation and investment conditions and promoting the use of unique information portals for investors.
The simplification of investment authorization procedures and the promotion of public administration and the promotion of interactions between investors and management, creating focus points and consultations to stakeholders, are also goals of this agreement.
The claim of the agreement is also to make investments more sustainable through the promotion of sustainable development, including commitments towards the effective application of international work and environmental agreements, such as the Paris Agreement and the favoring of a responsible business conduct through adopting international standards by companies.
And provides for the reinforcement of bilateral cooperation on aspects related to the investment of policies in the field of climate change and gender equality, as well as the dialogue with civil society about the application of the agreement.
Based on the conclusion of negotiations, the agreement will now be legally reviewed by the parties and translated into all EU languages, before it is proposed for signature and subsequent adoption under the respective EU and Angola procedures.