“This is an agreement aimed at creating mechanisms for investors to have effective communication channels to resolve concrete issues,” said the EU Ambassador to Cape Verde, Carla Grijó.
The Government of Cape Verde has expressed interest to the European Union (EU) in negotiating a Sustainable Investment Facilitation Agreement (SIFA).
According to EU Ambassador Carla Grijó, speaking during the investment forum that recently began on the island of Sal—with a day dedicated to partnerships with Europe—this type of agreement is intended to facilitate private investment.
“It’s an agreement that aims to create mechanisms for investors to have effective communication channels to address specific issues that may arise during investment processes,” Grijó explained.
The EU representative noted that the first agreement of this kind was signed with Angola and remains the only one in existence so far, but a number of other African countries—including Cape Verde—have already expressed interest in this investment facilitation instrument.
Grijó said that joint commission meetings are planned following the signing of the agreement. These meetings would help streamline the initiatives of various agencies to create “a sort of single window, where investors can find all the information they need.”
According to Lusa, the first step has already been taken: Cape Verde’s expression of interest. The next step involves a response from the EU’s Directorate-General for Trade so the process can move forward.
“The process may still take some time before reaching an agreement. I might be optimistic, but I would say it’s more a matter of months than years,” Grijó concluded.
Source: Forbes África Lusófona
