Accra: Angola and Serbia have recently taken concrete steps toward consolidating their strategic partnership, which gained new momentum with President Joo Louren§o's state visit to this European country. The Angolan Head of State's trip to Belgrade represented more than just a show of interest; it demonstrated the firm commitment of both states to more effective cooperation.
According to Angola Press News Agency, the 10 bilateral agreements signed between Presidents Joo Louren§o and Aleksandar Vucic clearly represent the transition to a more pragmatic economic partnership focused on private investment. With this new set of ten legal instruments, Luanda and Belgrade consolidated a historical and political relationship that dates back to the era of the former Yugoslavia, opening the way for a more fruitful and vibrant commercial partnership.
These are cooperation agreements and memoranda of understanding considered crucial to accelerate economic cooperation and increase Serbian investment in Angola, at a time when the two countries are celebrating 50 years of friendship and political and diplomatic partnership. This is the case with the Agreement for the Elimination of Double Taxation, which essentially prevents the profits and income of Serbian companies in Angola and Angolan companies in Serbia from being taxed twice, removing critical tax barriers and reducing the operational cost of businesses.
With this measure, Angola and Serbia create effective conditions to attract investors from both states, who can also now benefit from an important Agreement on the Promotion and Reciprocal Protection of Investments. This legal instrument offers the necessary security and guarantees to ensure stability for international private capital, making the Angolan market considerably more attractive and competitive.
From now on, Angola and Serbia will look with greater attention and confidence at the issue of agribusiness, with Angola being able to benefit from Serbia's strong know-how in agricultural technology, seed production, and machinery. With the memorandum in the agricultural sector, Angola will be able to receive direct Serbian investment to increase local production, another contribution to the government's strategy of reducing dependence on the oil sector.
Another expected gain from Joo Louren§o's visit to Serbia could be the transfer of technology and modernization in the telecommunications, environment, and security sectors, as a result of visits to technological infrastructures. The agreements signed in Belgrade also cover the Air Services sector, marking the creation of legal bases for air links that facilitate the mobility of entrepreneurs and technical delegations.
The aim of this important agreement is to help reduce transit barriers and directly boost tourism and the flow of goods between Luanda and Belgrade. To this end, cooperation mechanisms have been triggered to facilitate trade, through the opening of direct channels that allow Angolan products to find markets in the Balkans and vice versa.
To ensure that all this political, diplomatic, and commercial movement and involvement has the necessary visibility, the parties signed an agreement in the field of information for the exchange of content between the news agencies ANGOP (Angola) and TANJUG (Serbia). In practical terms, the agreement aims to help project the economic image of both countries.
Angola and Serbia also moved forward with the signing of a protocol authorizing paid work for family members of diplomats, thus facilitating the retention of qualified personnel and technical staff in the capitals and reducing bureaucracy in consular missions. With this package of legal instruments, Angola and Serbia have the objective to begin a new, safe, and stable path in their cooperation, capable of increasing Serbian business missions in Luanda.
Similarly, the agreements signed can boost the implementation of joint agricultural exploration projects, the opening of civil aviation routes or connections, and trade facilitation, in addition to reducing the cost of importing agricultural and technological inputs by Angola, generating greater international competitiveness. The engagement of the private sector of both countries is considered extremely important, which should take advantage of the new regulatory and fiscal facilities to implement concrete and impactful projects.
In fact, this strategic rapprochement aims to transform a historical friendship that dates back to the Non-Aligned Movement and the former Yugoslavia into a robust commercial exchange, reaffirming a relationship that spans decades. Angola is a State that seeks to cultivate, every day, a culture of peace and national reconciliation, which allows different generations, including private entrepreneurs, to explore emerging market segments for investment.
The two countries' cooperation has reached its highest point with the signing of ten new bilateral agreements in Belgrade, establishing a "new stage" focused on economic diversification, agriculture, and infrastructure, a milestone that is expected to bring solid fruits for both peoples and countries.
