Angola: Exports to US reach over $115 billion
Angola's exports to the United States of America tripled in the 2004/2014 period, reaching Usd 115.39 billion last year.
This was disclosed Tuesday in Luanda by the minister of Commerce, Rosa Pacavira, while addressing the seminar on "How to export to the USA and the African Growth and Opportunity Act".
According to the official, the increase in exports has partly resulted from the country's joining AGOA established by the US Government.
Rosa Pacavira said that statistics from the US Trade Department indicate that between 1985 and 2003, Angola's exports to America reached Usd 42.9 billion.
She said that before Angola joined AGOA, the US was already one of the country's major trade partners, with the former receiving the bulk of the Angolan exports, particularly oil.
The official explained that the exports were covered by the generalised preference system intended to promote the growth of the developing countries, through the exemption of customs duties for more than four thousand goods.
According to her, despite the high trade in very specific areas, with stress to oil and its derivatives, Angola is still in the process of adjusting to AGOA and its inclusion in the national economy diversification strategy, which will be an advantage, as the law provides for the reinforcement of the small and medium size company's financial capacity.
Rosa Pacavira mentioned that Africa in general and Angola in particular is faced with strengthening its future trade and investment partnership, through improving the implementation of AGOA, taking into account the new AGOA- 2015, and the advantages offered by US financial institutions and technical assistance to national companies and training of personnel.
The new AGOA-2015 was promulgated by the US president, Barack Obama, on 29 June 2015.
Rosa Pacavira recalled that Angola and the US signed in 2009 the Trade and Investment Framework Accord that provides for the establishment of a dialogue in which the parties discuss matters of common interest, including the removal of tariff and non-tariff barriers and the creation of a favourable business environment between the two countries.
According to the minister, Angola comes second among the 40 African countries exporting to the US within the framework of the above scheme.
AGOA is intended to promote the economic development and contribute to integrate the African economic activities in the world trade system and offers a structure for governments, private sector and the civil society to work together in strengthening trade between the US and Africa.
Read related news articles
Angola: USAID seeks to boost Angola's exports to USA
Angolan entrepreneurs will be able to export agricultural products, beverages and others to the United States of America market, through the mediation of the United States Agency for International Development (USAID). This information was provided today by the Acting Minister Counselor of the US Embassy in Angola, Christopher Hattayer, noting that the United States had been supporting efforts to increase economic growth in Angola since 2021...
04 April 2022
Angola: US Ambassador defends dynamism in using AGOA
Angolan entrepreneurs should continue to make efforts to take greater advantage of the African Growth and Opportunity Act (AGOA), said last Thursday in Luanda the ambassador of the United States of America (USA) to Angola, Helen La Lime. The diplomat, who was speaking at a press conference held in the framework of Angola's participation in the Second Business Summit USA/Africa, which happened last September 26, in Washington, said that Angola...
07 October 2016
Angola: Ministry of Commerce holds workshop on AGOA
The Ministry of Commerce is holding seminar on the African Growth and Opportunity Act (AGOA) on Wednesday in Luanda. This was said on Tuesday in Luanda by the director of the Office of Exchange of the Ministry of Commerce, Bumba Chico. Speaking to Angop, the director said that the event is aimed to inform State institutions and Angolan entrepreneurial sector about the meaning of AGOA and its challenges, as well as attract private, foreign...
21 September 2010
Angola: Trade minister points out new perspectives for Angolan economy
Angolan minister of Trade, Maria Idalina Valente, said in Washington that the global financial crisis has opened new perspectives for diversifying of the country’s economy with a view to face up the emerging challenges. Idalina Valente, who was speaking at the end of the Consultative meeting gathering ministers of Trade, stated that the crisis also opened perspectives to diversifying other export markets. “Exactly, with regard to our...
03 August 2010
Angola: Luanda port development good for trade
USD 350 million is being invested in the Port of Luanda, one of Africa's most congested, in an effort to restructure the harbour and its facilities. This was disclosed at a meeting between port and government officials and a visiting US delegation to Luanda, which included US Assistant Trade Representative for Africa, Florie Liser. In a statement issued to the media after the one-day meeting, Francisco Venancio, Chairman of the Luanda Port...
14 July 2010
United States, Angola hold high-level trade and investment talks
US and Angolan trade and development officials met today to discuss means for strengthening bilateral trade and investment ties. The meeting was the first held under the United States-Angola Trade and Investment Framework Agreement (TIFA), which was signed in May 2009. The TIFA provides a high-level forum for advancing cooperation on the full spectrum of trade and investment issues between the United States and Angola. Assistant U.S. Trade...
28 June 2010
Angola close to signing economic deal with US
Angola and the United States are close to signing an agreement that would strengthen commercial ties between the former Cold War foes, Angola's ambassador to the U.S. was quoted saying on Monday. The deal will be signed "shortly" and form the basis of increased trade and economic exchanges between the oil-rich African nation and the world's economic powerhouse, the ambassador Josefina Diakite told state-run news agency ANGOP. "It will be a...
11 June 2007
Angola and US to sign general cooperation accord
A general accord for the expansion of trade relations between Angola and the United States of America (USA) will be signed soon, said Sunday in Luanda, Angolan ambassador, Josefina Pitra Diakité, before leaving for Washington. Speaking to Angop, the head of Angolan diplomatic mission to the USA, said that the accord was not signed earlier on because the two countries' governments decided there was need to mature ideas. However, in view of...
10 June 2007
Angola to Export Agricultural Products to US
Angola's deputy Minister of Agriculture and Rural Development, Dario Daniel Katata, affirmed Thursday in Luanda, that Angola has the conditions to exports, in the next years, to the United States of America some agricultural products. Among the products are cotton and fruits such as banana, orange, melon, water-melon and amongst others. The Angolan deputy Minister was speaking to Angop, on his return from Dakar, Senegal, where since Monday...
21 July 2005
Angola: Private Sector needs to learn more about AGOA
The Angolan ambassador to the USA, Josefina Pitra Diakité, said today, here, that the Angolan businessmen should learn more about the African Growth and Opportunity Act (AGOA) in order to expand their business and benefit from aid. The diplomat who was speaking at the end of a lecture on business, promoted by the Angola-USA Chamber of Commerce, defended the need for the national private sector to know better the opportunities that AGOA...
06 May 2005