On Friday, the European Union concluded its negotiations with the Republic of Angola on the SIFA agreement, the first of its kind of European Union to promote sustainable investments with its partners in Africa.
The European Commission stated – in a press statement, published on its official website – that the SIFA agreement between the European Union and Angola will attract investments and expand them with the integration of environmental obligations and work rights in the relationship between the two parties, while the European Union will commit to strengthening sustainability in its trade policy, as stipulated In its new commercial strategy.
The statement added: This agreement will help to promote sustainable investment in Angola and the European Union will also provide technical support for the agreement to implement the agreement. This comes at a time when Angola seeks to diversify her economic model, which is currently dependent on the abundance of raw materials and energy resources.
SIFA will also support Angola’s efforts to improve the investment climate for foreign and local investors, especially for small and medium -sized companies. In addition to the agreement reached today, Angola is seeking to join the economic partnership agreement between the European Union and the South African Development Group “EU-SADC EPA” to ensure distinguished access to the European Union for Angolan Export.
He continued: The pursuit of sustainable investment agreements with Africa and the southern neighborhood is part of the broader European Union’s strategy to intensify participation with African countries through a “partnership between Ankad” approach. The aim is to launch economic capabilities and enhance economic diversification and comprehensive and sustainable growth.
These agreements are designed to increase the strengthening of sustainable trade and investment links between the two continents and within Africa itself, in line with the principles of the global gate strategy /or Global Gate Way /.
The statement highlighted that the agreement also aims to promote sustainable development, including the obligations of effective implementation of international and environmental work agreements, such as the Paris Climate Agreement and the promotion of responsible trade behavior by absorbing international standards in companies and enhancing bilateral cooperation in aspects related to investment in climate change policies Gender equality policies, as well as ensuring dialogue with civil society on implementing the agreement.
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