Concluding remarks by the Chairperson

This is the third Trade Policy Review of Angola and I would like to thank H.E. Mr. Rui Miguêns de Oliveira, Minister of Industry and Trade and his delegation for the constructive engagement in this meeting. I would also like to thank H.E. Ambassador Guilherme de Aguiar Patriota of Brazil for his valuable intervention as discussant.

The period since Angola's last Trade Policy Review in September 2015 has seen Angola embark on a broad range of ambitious economic policy reforms against particularly challenging economic circumstances, triggered by the collapse in oil prices starting in mid-2014 and exacerbated by the COVID‑19 pandemic. Members welcomed Angola's strong commitment to reforming its economy while reducing its dependence on the oil sector, which continues to be a major source of economic vulnerability. Delegations praised Angola's efforts to strengthen macroeconomic management and economic governance, including by enhancing the independence of the Central Bank and adopting a more flexible exchange rate regime, which many felt would help underpin external competitiveness and facilitate trade diversification.

Members appreciated Angola's efforts to improve its business climate, including measures to reform taxes, ease visa requirements, implement a single window for investment, and establish a regime for free trade zones. It was noted that, taken together, these and other related measures could help stimulate domestic and foreign investment, promote job creation, and improve industrial and agricultural production, in line with Angola's development plans.

Members welcomed steps to simplify and modernize Angola's customs procedures, including those taken to implement the WTO Trade Facilitation Agreement, which Angola ratified in 2019. In this regard, it was noted that Angola had introduced a customs automation system and an Authorized Economic Operator programme, while continuing to make progress towards the implementation of a trade single window. Some Members expressed concerns about certain non-tariff measures applied by Angola on imports including high-security tax stamp scheme applied on certain products and felt that it did not provide foreign companies with an adequate transition period. Some Members also remarked on the difficulties faced by companies in Angola to access foreign exchange.

Members voiced strong support for Angola's twin goals of economic diversification and greater private sector participation in the economy, and welcomed the fact that Angola had eliminated its tariffs on 43% of tariff lines, while noting that tariffs on certain sensitive products had increased, slightly pushing up the overall average applied MFN tariff rate.

Members commented on Angola's large untapped potential for trade and investment in non-oil sectors such as agriculture, fisheries, critical minerals, and tourism, and encouraged Angola to capitalize by making full use of preferential, bilateral, and regional trade agreements. In this regard, Members commended Angola for its membership in the African Continental Free Trade Area with some calls on Angola to step up efforts to accede to the Southern African Development Community Trade Protocol.

Members appreciated Angola's progress in rebuilding and modernizing its infrastructure. In that context, several Members expressed support for the development of the Lobito Corridor, recognizing that this major infrastructure project, which seeks to strengthen connectivity between Angola and two of its neighbours, could be a catalyst for investment and Angola's integration into regional and global supply chains, especially in clean energy. To ensure that the Corridor's benefits are maximized, it was noted that cross-border cooperation on transit and other customs matters would be needed along the Corridor.

Members highly appreciated Angola's active participation in the WTO and encouraged Angola to accelerate its acceptance of the Fisheries Subsidies Agreement. Angola, with its 1,650 km-long coastline, is home to one of the richest fish stocks in Africa, which means that Angola has a direct stake in the Agreement's rapid entry into force so that it can start delivering benefits. Several Members praised Angola's decision to join the Joint Initiative on Investment Facilitation for Development, which they noted could unlock further trade and investment opportunities, especially for LDCs. Angola was praised also for its participation in the WTO dialogue on plastics pollution and was encouraged to join the Joint Initiative on E-commerce to derive maximum benefits from the expansion of digital trade.

Members acknowledged Angola's efforts to improve its notification record at the WTO and and urged Angola to submit its outstanding notifications, including on domestic support in agriculture, TBT, SPS, and state trading enterprises. In this regard, I was encouraged by His Excellency's personal commitment expressed in his remarks today to improve Angola's notification record and I encourage Angola to benefit from technical assistance.

In conclusion, the delegation of Angola has clearly demonstrated that it places a high value on the Trade Policy Review Mechanism and the Multilateral Trading System through its active engagement over this two-day meeting.

Finally, Members congratulated Angola for its solid performance and look forward to receiving answers to any outstanding and follow-up questions within the customary one month, at which time this Review will be concluded.