Angola and United Arab Emirates Sign Terms of Reference for Economic Partnership

17 December 2024
Angola Press Agency (Luanda)

Luanda — The terms of reference for the negotiation of the Comprehensive Economic Partnership Agreement (CEPA) between Angola and the United Arab Emirates (UAE), on Tuesday, in Dubai were signed, with the aim of strengthening cooperation ties and boosting the country's sustainable development.

The document was signed by the Angolan secretary of State for Trade and Services, Augusta Fortes, and the UAE Undersecretary of International Trade, Jama Kait, and it was attended by the Minister of State for Economic Coordination, José de Lima Massano, and the UAE Minister of State for Foreign Trade, Thani Zeyoudi, as well as by the Angolan ambassador to the United Arab Emirates, Júlio Maiato.

The signing of the aforementioned document is part of a series of initiatives aiming to strengthen economic and financial cooperation ties with strategic partners in order to contribute to the sustainable development of Angola.

According to the note, the implementation of this bilateral agreement will reduce or remove unnecessary tariffs and trade barriers, improve market access and create new investment and collaboration platforms for the private sector, based on mutually beneficial partnerships.

From 2020 to December 2024, trade between Angola and the UAE represents a total of around USD 6.3 million in exports and more than USD 2.6 million in imports, corresponding to a trade balance of around 3.6 million dollars, reads the note.

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