SelectUSA, Global Markets, the International Trade Administration, and the United States Department of Commerce and the Angolan Trade and Investment Promotion Agency (AIPEX) signed a cooperative arrangement to promote bilateral investment during a physical and virtual signing ceremony and export promotion seminar.
As part of cooperative arrangement SelectUSA and AIPEX will exchange information on the investment environment in their respective countries to promote foreign direct investment
As part of the cooperative arrangement SelectUSA and AIPEX will exchange information on the investment environment in their respective countries to promote foreign direct investment between the United States and Angola and to share their experiences and best practices in attracting foreign direct investment. The two organizations intend to cooperate to provide support to U.S. and Angolan investors and economic development organizations to facilitate foreign direct investment with the goal of expanding bilateral trade and economic cooperation.
Assistant Secretary of Commerce for Global Markets, Ian Steff who signed the agreement said, “We are delighted to sign this milestone agreement between AIPEX and SelectUSA, which will lay the groundwork for our two countries to create new and more extensive investment opportunities in both the U.S. and Angola”.
Attracting foreign direct investment to diversify the economy is one of the Angolan government’s top priorities. The U.S. Embassy in Angola has been working closely with the Angolan government to stimulate and diversify bilateral trade and investment. According to Chargé d’Affaires Greg Segas, “This agreement supports the Angolan government’s vision to develop its economy while also promoting job creation in both the U.S. and Angola”.
The event was co-organized by the AmCham Angola, U.S. Embassy Angola, the Ministry of Industry and Trade and AIPEX with video participation by U.S. Commerce and EXIM Bank officials from Washington D.C. Fifty Angolan government officials and business executives participated in the event in person while it was broadcast live via YouTube to hundreds of viewers. The program also featured the U.S. Export Import Bank, which provided a presentation on how to work with the U.S. export credit agency as part of the U.S. government’s multi-agency coordination to boost bilateral trade and investment.