ANGOLA EXPECTS NEW OPPORTUNITIES WITH FREE TRADE ZONE

 

 Angola's Minister of Trade and Industry, Victor Fernandes, said Saturday that Angola's entry into the Free Trade Area of the African continent was an opportunity for the country's business class.

Speaking to the press, in Luanda, at the end of the 13th Special Session of the African Union, by videoconference, the Angolan official noted that, alongside new opportunities for businesspeople, the Free Trade Area would contribute to raising the quality of products and services.

"We are going to have an increasing supply of quality products and services, because not only will Angola provide these goods, but other countries will also do so," the minister said after the meeting, at which Angola was represented by the President of the Republic, João Lourenço.

The Free Trade Agreement for the African Continent, to which Angola is party, enters into force in January, 2021.

Of the 54 African states, 30 have already ratified the treaty. In a first phase, it will lead to the elimination of tariffs on 90 percent of products.

The aim of the African Union is to create an extensive free trade area, with a market estimated at US$2.5 trillion.

Victor Fernandes said that all the products that Angola produces had space in the Free Trade Area, as long as they complied with the rules established under the agreement.