7 December 2017

Angola and U.A.E Negotiate Double Taxation Agreement

Luanda — Angola and the United Arab Emirates (U.A.E) have been negotiating the signing of a double taxation agreement, with a view to creating an investment framework that can be favourable for both countries.

This information was given last Wednesday to the press, at the 4 de Fevereiro International Airport, in Luanda, by the director of the Department for Africa and the Middle East of the Foreign Affairs Ministry, Joaquim do Espírito Santo, in the ambit of the arrival in Angola of the Sheikh of the U.A.E's Western Region of Abu Dhabi, Hamdan Bin Zayed Bin Sultan Al Nahyan, who is making an official two-day visit to this African country.

To Joaquim do Espírito Santo the agreement, which is being negotiated since the year 2015, the United Arab Emirtaes (U.A.E) has shown high interest in this accord, so there are good chances that it will be signed soon.

"It is a strategic agreement that is very favourable to Angola, which has been searching for the best ways to accelerate economic growth and the country's development, so the Emirates seems to be a good partner, considering its potential in areas like transports, energy, tourism, trade and industry", he emphasised.

Joaquim do Espírito Santo informed that between the two countries there is already an economic and technical co-operation agreement, signed in 2015 in Abu Dhabi (U.A.E).

As regards the visit of the Persian Gulf country's Sheikh, Joaquim do Espírito Santo said that it is of extreme importance for the both parties, since the Arab monarch is to discuss with the Angolan President, João Lourenço, relevant political and economic issues.

This visit happens two years after Angola's former president, José Eduardo dos Santos, visited the U.A.E at the invitation of the Sheikh, to discuss the creation of partnerships between Angolan and Arab entrepreneurs.

On the occasion of that visit, José Eduardo dos Santos signed the agreement that gave origin to the creation of a joint commission, having made it clear to Sheik Mohamed Bin Zayed Al Nahyan that Angola "would like to count on the participation of the Emirates in the creation of public-private partnerships".

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