International Trade in Angola

News Related to International Trade in Angola

• Angola: Multisectorial Commission Checks Impact of Drought in Cunene - May 13, 2013

  [ANGOP]Ondjiva -A delegation of multisectorial commission of the central government, led by the minister of Agriculture, Rural Development, Afonso Pedro Canga, is since Saturday paying a working visit to the southern Cunene province, aimed to check the impact of the drought that is hitting the region.

  Source: All Africa

• Angola: Govt Distributes 300 Tones of Goods to Assist People Affected By Drought - May 13, 2013

  [ANGOP]Ondjiva -At least 300 tones of several goods, among foodstuff and medicines, were distributed by the Angolan government, through the Ministry of Assistance and Social Reintegration and National Civil Protection Services, aimed to assist the population affected by the drought in the southern Cunene province.

  Source: All Africa

• Angola sending aid to 300,000 at risk from drought - May 10, 2013

  LISBON (Reuters) - Angola set up an emergency plan on Thursday for the southern province of Cunene, where an estimated 300,000 people are at risk of malnutrition because of a two-year-long drought.Related StoriesIran envoy to Cyprus recalled after extradition to U.S.Up to 3,000 African peacekeepers killed in Somalia since 2007 - U.N.Colombia demands ELN release hostages before any peace talksGuatemala's Rios Montt tells court - I never ordered genocideBrazil's big government seen as good for politics, bad for economy

  Source: Reuters

• Angola: Govt Wants Greater Consumption of National Seafood - May 02, 2013

  [ANGOP]Luanda -The Angolan government wants to promote the consumption of the Angolan seafood more and more in the national market and turn this species again into the exports route to the European countries, says the Minister of Fisheries, Victria de Barros Neto.

  Source: All Africa

• Voith will supply generators and turbines for hydropower plant in Angola - Apr 25, 2013

  With the project, Angola will double its installed capacity in hydropower.

  Source: Renewable Energy Focus

• Angola: Codex Angola Urged to Implement Food Standards - Apr 25, 2013

  [ANGOP]Luanda -The National Committee for Angola Food Code (Codex Angola) should keep working out food production standards and support the public and private sectors on implementation of quality systems and better practices of production and manufacturing.

  Source: All Africa

• U.N. rights chief urges Angola to cut "huge" rich-poor gap - Apr 25, 2013

  (Reuters) - The United Nations' top human rights official urged Angola's government on Wednesday to reduce the huge disparities between rich and poor that have developed in the oil-rich country despite considerable progress since the end of a 27-year civil war in 2002.Related StoriesIraq on edge after raid fuels deadly Sunni unrestPeru prioritizes averting resource conflicts, clashesJapan PM's plans to break with past threaten more friction aheadU.S. Treasury's Lew presses Congress on IMF fundingColombia lawmakers reject controversial gay marriage bill

  Source: Reuters

• Angola: Angola Needs to Increase Control On Food Supply Network - Apr 24, 2013

  [ANGOP]Luanda -The chairman of the Committee on Food Code in Angola, Gomes Cardoso, Monday in Luanda highlighted the need to increase control of the quality of food production network, taking into account the progress of economic growth of the country and density of the domestic market.

  Source: All Africa

• Angola: Trade Sector Strengthens Measures for Controlling Food Quality - Apr 24, 2013

  [ANGOP]Luanda -The Ministry of Trade continues to reinforce the measures for controling the quality of food that enter the country.

  Source: All Africa

• Angola: CPLP Agronomists Discuss Livestock Development in Angola - Apr 20, 2013

  [ANGOP]Huambo -The Association of Higher Education of Agricultural Sciences of the Portuguese-speaking Countries (ASSSCA-PLP) is analyzing today (Thursday) in the city of Huambo, the development prospects and constraints of livestock in Angola and the importance of forest management in food security.

  Source: All Africa

• Angola focused on ICT to renew, rebuild - Apr 16, 2013

  Angola focused on ICT to renew, rebuild

  Source: IT News Africa

Business outline for Angola

Economic Overview

With the pre-crisis  average economic growth at 20%, Angola was one of the fastest growing economies of the world. Due to the global recession, the fall of oil prices and the reduction of the production quota of the OPEC (Organization of the Petroleum Exporting Countries) the growth came to a abrupt halt in 2009, falling to 0.7%. Estimated at 5.9% in 2010, growth should again become stronger in 2011. After 27 years of civil war, the country is now undergoing reconstruction, which is largely financed by country's oil wealth.

Becuase the crisis has greatly worsened the macroeconomic situation of the country, in 2009 Angola appealed for help to the IMF and signed a stand-by accord. The country should deal with the challenge of increasing spending on basic infrastructures, while also constituting a foreign currency reserve and paying its arrears. The 2011 reforms program emphasizes strenghtening of the economic institutions and a reform of the fiscal system. Reforms aiming to improve the business environment are also planned.

Even though the income per capita is increasing, particularly in the metropolitan regions, life is still difficult for the majority of the Angolans affected by poverty and unemployment. According to the UNDP, 35% of Angolans suffer from malnutrition. Although political stability has improved, a widespread corruption still remains.

FDI in Figures

Angola has an exceptional economic potential. The country is rich in oil, minerals, fisheries and agriculture, and has significant potential in hydroelectricity. The country seeks to promote foreign investment. A new law for FDI was enforced in 2003 in order to create a more positive atmosphere for investors. However, this law is subordinated to decrees and regulations issued by the ministries. Angola is considered one of the most corrupt countries of the world, its financial system is underdeveloped, and transportation is slow and expensive.

During these past years, encouraged by the exceptional high prices, investments have rushed into the oil sector, reactivating the projects of oil exploration and drilling at the time when the profitability was low due to the drop in prices. In spite of a drop in the FDI flux in 2009, due to the economic crisis, FDI flows should remain large.

The oil sector is the main destination of most of FDI. The majority of FDI in Angola comes from the United States, followed by France and Netherlands.

Foreign Trade Overview

Angola has considerably liberalized its trade regime in the last recent years. Foreign trade representedg more than 100% before the economic crisis (90% in 2009). The country is a member of SADC (Southern Africa Development Community) and ECCAS (Economy Community of Central African States). 

Custom duties are relatively low, between 5% to 10%. Importing certain products, such as pharmaceuticals and agricultural products, still requires license authorizations from the concerned ministries. Angola has also adopted the SADC (Southern Africa Development Community) guidelines in biotechnology which effectively prohibits the import of biotechnology grain. 

With the introduction of a new customs code in January 2007, the country has taken a big leap towards reforming its foreign trade. However, the unjustified delays in custom clearance at ports still remains a major problem. Angola is a country that has registered a large trade surplus, a trend that should continue for the next following years, in spite of the drop of prices for raw materials. 

The main trade partners of Angola are the United States, China and the European Union.