Addis Ababa- Angola deposited, on Monday, in the African Union (AU) headquarters, the letter of adhesion to the Agreement on the Constitution of the African Trade Insurance Agency (ATI) and the instrument of ratification of the African Charter on Statistics.
The two legal instruments were delivered to the Legal Office of the African Union (AU), in Addis Ababa, Ethiopia, by the Permanent Representative of Angola to the AU, Francisco José da Cruz.
ATI is a multilateral financial institution that provides export credit, political risk, investment insurance and other financial products to help reduce the risks and costs of doing business in Africa.
Created in 2001 by seven Common Market countries for Eastern and Southern Africa (COMESA) with technical and financial support from the World Bank (WB), ATI facilitates exports, foreign direct investment (FDI) and trade flows within the continent.
Affiliation with ATI will allow Angola to attract long-term financing at competitive rates, while Angolan entrepreneurs will more easily benefit from credit insurance, political risk, coverage against insolvency and investment
protection.
ATI is a highly regarded and reputable insurance guarantee provider in international markets, namely in the mobilization of financial resources aimed, in particular, at reducing the cost of transactions and covering political and commercial credit risks in Africa.
The African Statistics Charter is a legal instrument that defines the principles that govern the activity of institutions responsible for the collection, production, dissemination and analysis of public statistics at national, regional and continental levels in Africa, as well as the rules of ethical and professional conduct of African statisticians.
This Charter, which was adopted in February 2009 and entered into force in February 2015, is intended to serve as a policy framework for the development of statistics in Africa, in order to ensure better quality and comparability of the statistics needed to monitor the process of economic and social integration on the continent.
Source: Angola Press News Agency