Angop - Agência de Notícias Angola Press

Productive capacity must be efficient - minister

Tue, 30 Jun 2020 15:02 - Economy

Luanda - The increase in national productive capacity implies an efficient and more intensive application of capital in the essential sectors of transport and logistics, both in distribution and storage, considered the minister of Industry and Commerce, Victor Fernandes.

  • minister of Industry and Commerce, Victor Fernandes.

According to the minister - who was speaking in Luanda, at the meeting of the Steering Committee of the ACOM Project (Support for Trade) – this is currently one of the biggest challenges faced by national producers and industries that must be fed by locally produced goods.

He said that the ACOM Project supports Angola's efforts to diversify the economy, mainly with technical assistance and specialized studies to strengthen the country's endeavour to adequately participate in the regional and continental economic integration process and promote non-oil exports.

The referred project, signed in 2014 under the Financing Convention between Angola and the European Union to support the trade sector and launched in 2016, has a time-span of four years and funds amounting to 12 million euros, he explained.

The minister recalled that the Executive has launched a vast programme of political, economic and social reforms to improve the business environment, simplify and reduce bureaucracy in procedures related to imports and exports, as well as to attract private investment.

He noted that, with the approval of these new laws, the government intends to quickly boost trade and development in the country through the initiative and leadership of the private sector.

Angola and EU

Angola and the European Union (EU) are preparing to start negotiations on the Economic Partnership Agreement taking into account the economic and trade relations between the two partners, revealed minister Victor Fernandes.

This process will allow greater integration between the national Small and Medium Enterprises, with the large regional conglomerates, accessing a vibrant and competitive market from their integration in value chains, within the scope of the SADC industrialization process.

On the other hand, the EU ambassador to Angola, Tomas Ulicny, said that ACOM represents one of the supports of the European Bloc in the development of national capacities and in carrying out specialized studies in the trade sector.

The diplomat pointed out the promotion of investment, commercial diplomacy, the promotion of the private sector, commercial logistics, commercial defence and electronic commerce and their regulation as essential areas within the project.

Finally, he reiterated the European Commission's willingness to contribute to the construction of an inter-sector, multilateral dialogue that involves several sectors, with emphasis on the private sector, the academicians and the civil society.