Luanda - Angola has successfully developed a set of structural reforms to diversify the country's economy, aimed to reduce excessive dependence on oil, the head of the World Trade Organisation (WTO) experts' mission, Steifatt Karsten, said Tuesday in Luanda.
The concrete reforms on revision of trade policy focused on the private sector are currently producing results that can help change the country's internal picture through the diversification of the economy and the role of trade in the global economy.
The WTO official underlined that the Angolan government is promoting multifaceted efforts to stimulate the supply chain, incentives for domestic production and job growth and boost the progress in the technology field.
Since the last WTO Trade Policy Examination, Angola has recorded development in its trade policy, a fact that shows that these are concrete actions, under the strategy of the President of the Republic, João Lourenço.
The WTO’s expert explained that these examinations are a factual and impartial analysis of a country's trade that absorbs the policies and practices related to trade conducted by the WTO secretariat.
Steinfatt Karsten added that trade policy reviews are an opportunity for the success and challenges of integration in the international arena.
The expert said he believes that Angola's entry to the African Continental Free Trade Area (ACFTA) and of the Southern African Development Community (SADC) region is an opportunity to expand Angola's trade to over 55 markets.
In turn, the Secretary of State for Trade, Amadeu Nunes, said the policy review aims to make the national trade system more transparent to attract investment, not only in the oil sector, but also to enable the development of the private sector.
