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Angola set to become a middle-income country in 2021
Update time: 2017-12-14 00:00:00 [Large  Small]

【 Angola 】

Angola’s graduation from a less developed country (LDC) to a middle-income country (MIC) is expected to occur in 2021, the Angolan Trade Minister said on Sunday in Buenos Aires, Argentina, at a meeting held on the sidelines of the 11th ministerial conference of the World Trade Organisation (WTO).

Minister Joffre Van-Dúnem said, according to a statement from the Ministry of Trade released in Luanda that Angola is in the process of drawing up its Smooth Transition Strategy from the LDC Category, which has the collaboration of some international partners.

The Minister also called for measures and benefits related to the LDC status to be phased out as part of a smooth transition strategy, taking into account the country-specific situation in terms of development.

The Istanbul Action Plan 2011-2020, adopted in May 2011, notes that “measures and benefits linked to the status of LDCs should be phased out as part of a smooth transition strategy, taking into account the specific situation of each country in terms of development.”

The agenda of the 11th Ministerial Conference of the WTO, held from 10 to 13 December in Argentina, includes issues related to fishing and agricultural subsidies, e-commerce, investment facilitation as well as other issues relevant to international trade. (macauhub)


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