Angop - Agência de Notícias Angola Press

Angola: Businessmen encouraged to export to US

Fri, 11 Aug 2017 17:08 - Economy

Luanda - National economic agents have been encouraged to invest in sectors whose products can be exported to the United States, accordingly with that American country's Commercial Law for Sub-Saharan Africa.

  • Fiel Constantino - Trade minister

The appeal was made Friday in Luanda by the minister of Commerce, Fiel Constantino.

The official was speaking to the press at Luanda's "4 de Fevereiro" International Airport after attending  the 16th Forum on Africa Growth and Opportunities Act (AGOA) held in Lome, Togo.

Fiel Constantino  underlined that Angola benefits from this legal diploma, generally only exporting oil to the US, adding that the Executive encourages national entrepreneurs to benefit from AGOA.

The minister who attended the event on August 8-10, explained that the meeting served for the new US Administration to explain, among other things, the new amendments that AGOA will introduce.

He said that the US authorities have ensured that the law allowing entry of goods on concessional terms with tariff exemptions will remain until 2025, despite some clauses such as the out-of-cycle valuation that allows Americans to cut those duties at any time.

The event was held under the motto "US-Africa: Partnership for Prosperity through Trade".

The Forum addressed, among other matters, "US-Sub-Saharan Africa trade, trade and labour, the power of micro, small and medium-sized enterprises, the Trade facilitation of the WTO and the application of agricultural biotechnological tools for food security ".

AGOA is a piece of legislation that was approved by the U.S. Congress in May 2000.

The purpose of this legislation is to assist the economies of sub-Saharan Africa and improve economic relations between the United States and the region.

The Minister was accompanied by senior officials from his sector, Ministries of Foreign Affairs, Administration, Labour and Social Security,  Transport and entrepreneurs.