November 17, 2023
The EU and Angola signed today a Sustainable Investment Facilitation Agreement (SIFA), the first EU agreement of its kind, during the EU-Angola Business Forum in Luanda. The agreement, with its commitments to improve business climate and sustainability across the economy, is expected to attract new EU investment to sectors where Angola’s potential is currently untapped. The EU-Angola Business Forum confirmed opportunities for investments notably in green energy, agri-food value chains, digital innovation, fisheries, logistics, and critical raw materials.
The main objective is to increase sustainable investment by EU businesses in Angola, while Angolan businesses will benefit from facilitation measures and from improved linkages between foreign investors and domestic suppliers. Today’s deal reinforces the EU’s bilateral relationship with Angola, while representing a strong signal of the EU’s ambition to deepen its engagement with the African continent, in line with the Global Gateway.
After the signature of the Agreement, the EU and Angola will notify each other on the completion of their respective internal procedures, including, for the EU side, the consent of the European Parliament.
A press release is available online.