EU-Angola Green Investment Deal Advances for Approval

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by KnowESG
KnowESG_EU sustainable investment in Angola
Image courtesy of Freepik

The EU-Angola Sustainable Investment Facilitation Agreement (SIFA) has taken a big step towards approval, with the Commission sending proposals to the Council on the signature and conclusion of the agreement.

Once the Council gives its green light, the EU can sign the agreement with Angola, and the agreement can be sent to the European Parliament for consent. Following approval, the deal can enter into force.

The EU-Angola SIFA is the first EU agreement of this kind and will make it easier to attract and expand investments while integrating environment and labour rights commitments into the EU-Angola relationship. The EU is committed to boosting sustainability in its trade policy, as set out in its trade strategy.

This agreement will help boost sustainable investment in Angola, and the EU will also provide technical support to put the agreement into practice. The SIFA will also support Angola's efforts to improve the investment climate for foreign and local investors, including small and medium-sized enterprises, by making it easier for investors to set up their businesses, conduct their day-to-day activities, and expand their existing investments.

Pursuing sustainable investment agreements with Africa and the Southern Neighbourhood is part of the broader EU strategy to step up engagement with African countries, in line with the Global Gateway. The goal is to unlock economic potential, foster economic diversification, and promote inclusive and sustainable growth.

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Source: European Commission

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