Investment Agreement Forged Between Angola and Japan (Press Release)

TOKYO, Japan, February 23, 2011/African Press Organization (APO)/ — On Monday, February 21, Mr. Seiji Maehara, Minister for Foreign Affairs, held a meeting with H.E. Mr. Georges Rebelo Pinto Chikoti, Minister of External Relations of the Republic of Angola, on his visit to Japan. The two ministers exchanged views on strengthening JapanAngola relations, and confirmed that the two countries have reached an agreement in principle on the bilateral investment agreement. They also confirmed their intention that the two countries will continue to negotiate on the remaining points of concern with a view to the early completion of the negotiations.

Angola is blessed with a wealth of natural resources, being one of the biggest crude oil producers in Sub-Sahara Africa. Since the civil war ended in 2002, it achieved a rapid economic recovery, attracting an increasing number of Japanese private companies.

The Investment Agreement between Japan and the Republic of Angola, if concluded, will be the first investment agreement for Japan with a Sub-Saharan country. The agreement is aimed at improving the legal stability with respect to investment, and is expected to promote mutual people-to-people exchanges in tandem with bilateral investment as well as to bolster economic relations of the two countries.