U.S., Angola seek trade expansion
The United States and Angolan governments entered an agreement Tuesday to expand trade and investment between each other's markets.
“It is a testament to the people of Angola and to its leadership that after a troubled history or war and unrest, Angola is taking positive steps to realize its full potential as a nation,” said U.S. Trade Representative Ron Kirk, in a statement.
Under the Trade and Investment Framework Agreement, a U.S.-Angolan Trade Council will be formed to address a wide range of trade and investment issues that include trade capacity building, intellectual property, labor, environment issues and enhancing the participation of small and medium-size companies in trade and investment.
Angola is in the midst of rebuilding following 40 years of conflict, including a 27-year civil war that ended in 2002. Angola has been eligible for benefits under the African Growth and Opportunity Act since 2003.
U.S. exports to Angola in 2008 were about $400 million, while U.S. imports from the West African country were about $4 billion. More than 95 percent of this trade is related to the oil and gas sector.
U.S., Angola seek trade expansion
