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IV. TRADE POLICIES BY SECTOR 
(1) OVERVIEW  
1. In the early 1970s, before the civil war, Angol a’s economy was relatively diversified.  The 
country had a wide range of agricultural production an d exports;  a healthy fishery industry, including 
both fishing and fish processing;  and a manufacturing sector serving the local market.  
2. The combination of the civil war and the economic  experimentation of the past thirty years, 
swinging from central planning to state-dominated capitalism, left the principal sectors of Angola’s 
economy, other than oil and diamonds, in shreds.  Road and rail infrastructure was largely destroyed;  the widespread of landmines made it impossible to farm in many areas;  movement of population to 
towns and the development of large shanty-towns meant that subsistence and commercial agriculture 
no longer had the human or material resources necessary to function;  industries deriving from the primary sectors or supplying goods to the rural popu lation lost their markets;  and the services sector 
became virtually non-existent outside the main centres. 
3. During the period, rapid growth continued in the oil and diamonds industries.  Together, these 
comprise well over half of Angola’s total GDP (Chapt er I), and  the petroleum sector is benefiting 
from growing and diversifying demand, increasing world prices, and new discoveries that are raising 
the level of proven reserves considerably.  Howe ver, they also present Angola with significant 
governance challenges.  Both operate to a large degree as enclaves isolated  from the rest of the 
economy;  both are subject to less than fully tran sparent governmental involvement and intervention, 
through State corporations that act both as concession aires and producers and/or distributors;  and the 
use of fiscal revenues deriving from the sectors, partic ularly oil, is still not fully clear (Chapter I). 
4. The challenge for Angola now is to find a rati onal path to economic reconstruction, in an 
external economic environment that differs greatly from that of thirty years ago, and to use its 
booming oil and minerals revenues effectively and transparently  to promote development and 
diversification  in an open economic context. 
5. The Government has introduced new legislation in many sectors, including fisheries and 
marine resources, petroleum, banking and finance,  posts and telecommunications, shipping and port 
services, and civil aviation. It is a leading particip ant in international procedures for certification of 
rough diamonds.  The authorities have also formulated  plans for the redevelopment of agriculture and 
manufacturing based on a combination of import subs titution and export developm ent.  International 
organizations have in many cases contributed to the development of the new laws and plans.  
6. Angola has already opened up its external sector for goods considerably (Chapter III).  
However, tariff peaks remain in specified areas and effective protection is likely to have been 
increased by the new tariff introduced in 2005 (Cha pter III).  Angola is also in the process of 
reforming and opening its service sectors.  Its choices are whether to pursue reconstruction on the basis of import substitution – a tempting strategy for a country with significant financial resources, 
but one that could, in the longer run, give c onsiderable difficulties in Angola’s limited domestic 
market – or to attempt a more balanced approach that seeks to integrate Angola into both the regional 
and the world economy, while encouraging the recovery of domestic sectors.  The role of trade, and of 
trade policy, in the future sectoral development of  Angola's economy is therefore a crucial issue for 
the Government and its international partners. WT/TPR/S/158 Trade Policy Review 
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(2) AGRICULTURE AND FISHERIES  
(i) Agriculture 
(a) Features 
7. Agriculture, including livestock and forestry, is  currently estimated to account for 8% of 
Angola's GDP.  The main crops are bananas, plantain s, sugarcane, coffee, sisal, corn, cotton, manioc 
(tapioca), tobacco, and vegetables; livestock and fo rest products are also potentially significant.1   
8. Angola has considerable agricultural potential.  Of the total area of 124 million hectares, 
54 million are counted as pasture land and 35 million as arable.  There are three main agricultural and 
ecological zones:  one, dependent on seasonal rains;   a second, transitional zone suitable for growing 
drought-resistant crops;  and a third, arid zone wher e agriculture would require substantial irrigation.  
Angola also has substantial areas of rain forest, together with considerable hydrological and hydro-
electric potential. 
9. Before independence, Angola was a major agricu ltural producer, self-sufficient in food, and a 
substantial exporter of many crops.  The damage caused by the civil war reduced the country to a 
major net importer of food and agricultural products and recipient of food aid, although such needs 
are now declining.2  The continuing presence of landmines in certain areas of the country, despite an 
active de-mining programme, has been a major impe diment to the rehabilitation of rural areas, 
although again, much progress is being made.3  
10. Currently, most agricultural production (an estim ated 80%) is subsistence or small scale, 
using manual or low technologies and with low productivity;  18% of output is estimated to come 
from medium-sized farms and only 2% from commercial farming.4  However, the potential for 
commercial farming, subject to reconstruction of the infrastructure, is considerable. 
11. Rural poverty is widespread.  Malnutrition affect s 50% of the population, and infant mortality 
is high;  78% of rural families are counted as "poor", and 70% as "extremely poor".5  T h e  
"delocalization" of the population (i.e. movement  from rural villages and towns, largely to urban 
areas) has exacerbated the problem of rural poverty by diminishing productive capacity and access to 
food.  The rebuilding of destroyed rural infrastructure, and the repopulation of the countryside 
(together with the de-mining programme) are therefore Government priorities.6 
                                                      
1 MINADER/FAO (2004);  and CIA (20005). 
2 World Food Programme (WFP) projections for 2005 suggested the need to raise food resources 
(cereals, oils, pulses, and others) valued at US$83.6 million.  For 2006, the corresponding total is US$42.1 million.  However, the WFP's main efforts ar e concentrated on support to return and resettlement, 
through the transport of persons and repair of infrastruct ure, as well as programmes conducted jointly with other 
UN agencies in areas including agri cultural production, beneficiaries' acce ss to markets and services, primary 
education, and HIV/AIDS awareness programmes.  The agency has begun to adapt its activities to longer-term 
programmes focusing on key social sectors in food-in secure communities still recovering from the war (WFP, 
2004 and 2005). 
3 See for example ICBL (2005), ICBL estimates that more than 20 km2 were cleared of landmines 
between 1999 and 2003, and a further 10 km2 in 2004. 
4 See MINADER/FAO (2004), section 3.4. 
5 Compared with 61% and 10%, re spectively, in urban centres (MIN ADER/FAO, 2004).  See Chapter I 
for definitions of "poor" and "extremely poor". 
6 See MINADER/FAO (2004). Angola WT/TPR/S/158 
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12. Redevelopment of the rural sector faces other serious challenges.  Macroeconomic stability 
(Chapter I) is an important element in Angola' s economic progress; however, existing macroeconomic 
policies, particularly the maintenance of a "strong" exch ange rate in an inflationary situation, are seen 
as a constraint on agricultural development. From the point of view of the Ministry of Agriculture, it 
is important to correct the exchange ra te in accordance with the inflation rate.7  Other identified 
constraints include the level and prices of impor ted food, often subsidized from outside, and their 
effects on agricultural redevelopment;  domestic price subsidies and profit margin controls that reduce 
incentives for rural trade (Chapter III(5)(iv));  serio usly damaged road and rail links and limited rural 
infrastructure; the need to restore storage capacity ; and the need to build up adequate financial and 
credit systems for rural production and commerce. 
(b) Institutions 
13. The Ministry of Agriculture and Rural Develo pment (MINADER) is directly responsible for 
all agricultural, livestock and forestry rural de velopment.  Three national institutes are under 
MINADER:  the Institute for Agricultural Research  (IIA), based at Huambo, which works closely 
with the University Faculty of Agrarian Sciences, has a network of 12 research stations, and makes its 
research and its technologies available to extensi on workers;  the Institute for Veterinarian 
Investigation (IIV), also based at Huambo.  Prior to the war, this institute was principally responsible 
for animal health and animal-based research, via a ne twork of provincial veterinary stations, most of 
which were severely damaged or put out of action;  and the Institute for Agricultural Development 
(IDA) which has its main task to  encourage the development of sm all farmers, through a network of 
extension workers. 
14. The Ministry is also the tutelary agency fo r a number of public enterprises, including: 
MECANAGRO, the National Agricultural Mechaniza tion Enterprise;  SECAFE, the national coffee 
marketing body;  FRESCANGOL, conservation a nd distribution of perishable products;  
ANGOSEMENTES, import and distribution of seeds;  DINAMA, import and distribution of fertilizers and pesticides;  CAFANGOL, processing and export of coffee;  PROCAFE, provision of 
inputs to coffee producers;  and MECANAGRO, provi sion of mechanization services for agriculture. 
15. The challenge for the Government is how to re vitalize these institutions  in the face of new 
policy choices, and to determine what operations w ould better be done by or in conjunction with the 
private sector.  In all cases, shortage of trained human  resources is likely to be a principal constraint. 
(c) Policy orientations and priorities  
16. The Government's current agricultural rede velopment strategy is being pursued by 
MINADER with support from the FAO.
8  It comprises crop, livestock, and infrastructure 
redevelopment efforts, relating both to family (s ubsistence) farms and larger scale, commercial 
farming.  Priorities take into account the need for food security; possibilities for reactivation of the 
agrarian economy, institutional strengthening; and th e development of sustainable natural resources 
(Box IV.1). 
17. The Government recognizes that it has insuffici ent resources to intervene heavily in the 
agrarian sector. Consequently, it is seeking to evolve  policies, strategies, and resources to stimulate 
private-sector participation and revitalize public ins titutions.  The stated policy orientation is for the 
Government to concentrate on more basic functions, intervening directly only where the private sector 
in unlikely to invest due to the likelihood of lower returns or higher risks. 
                                                      
7 MINADER/FAO (2004). 
8 MINADER/FAO (2004). WT/TPR/S/158 Trade Policy Review 
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Box IV.1: Main priorities for ag ricultural redevelopment in Angola 
 
The Ministry of Agriculture has identified nine main policy objectives for agricultural redevelopment: 
 
− creation of incentives for privat e-sector participation and lower levels of state intervention; 
− increasing state investment in the agriculture sector; 
− strengthening the productive capacity of national producers and the supply of basic services; 
− strengthening institutions and the development of human resources to support the rural sector; 
− socio-economic development for support to communities of small-scale farmers; 
− reconstruction of rural infrastructure; 
− distribution of seeds and tools; 
− assistance for farmers in gaining access to lands;  and 
− acquisition of appropriate technology for the development of production. 
 
These are linked to the following general economic policy issues:  
− Macroeconomic management and agricultural policy; 
− Food security; 
− Institutional modernization and strengthening; 
− Sustainable management of natural resources; 
− Support to the rural sector with a view to exports; 
− Promotion of private enterprise in a regional perspective; 
− Promotion and regeneration of regional trade. 
 
Source:   Information provided by the Angolan authorities. 
(d) Border measures 
Tariff protection 
18. The nominal average rate of tariff protection for "agriculture, forestry, hunting and fishing" as 
defined in the International Standa rd Industrial Classification (ISIC) is 10.3%, with average rates for 
the subsectors "agriculture and hunting", "logging" and "fishing" standing at 8.2%, 20%, and 18.9% 
respectively (Table AIV.1).  Peak rates of 30% are applied to items in HS chapters 5 (products of 
animal origin), 9 (coffee, tea, maté, and spi ces), 21 (miscellaneous edible preparations), 22 
(beverages, spirits, and vinegar), and 44 (w ood and articles of wood) (Table AIII.2). 
Non-tariff border protection 
19. The 2005 Customs Schedule specifies import bans on animals and by-products from areas 
affected by epizootic diseases, plants from areas af fected by epiphytic diseases, and any genetically 
modified or transgenic seeds or grains, except those supplied for food aid programmes 
(see Table III.2).   
20. Decree No. 92/04 of December 2004 strengthened Angola's legislation regarding genetically 
modified organisms (GMOs) supplied for food aid pu rposes, specifying that imports of such products 
for food aid must have prior permission from the Mini stry of Agriculture before importation, and that 
GM grains and seeds entering the country as food aid must be milled immediately on arrival.9  
 
                                                      
9 IRIN NEWS .ORG (2004).  See also Science in Africa , April 2004, "Angola bans genetically-modified 
seed".  Available at:  http://www.scienceinafrica.co.za/2004/april/angolagm.htm. Angola WT/TPR/S/158 
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Export taxes 
21. An export tax of 20% is levied on hides and sk ins, and a tax of 10% on exports of unworked 
ivory.  As noted in Chapter III(4)(ii), Angola is not a member of CITES. 
Export restrictions 
22. Exports of animals, parts, and animal products  are subject to permission from the "competent 
authorities", and exports of fodder are s ubject to export permits (Table III.4).  
(ii) Fisheries 
(a) Introduction10 
23. Angola's coast benefits from the junction of th e Benguela Current and the warmer waters of 
the tropical Atlantic, an area of ocean described as "one of the world's major eastern-boundary current 
systems rich in pelagic and demersal fish pop ulations, driven by intense coastal upwelling".11    
24. Before independence, a large industrial fishing sector had developed in the southern coastal 
ports of Benguela, Namibe, and Tômbwa.  The curre nt consumption of fish is estimated at around 
17 kg per head per year.  The potential internal mark et for fresh, dried or otherwise processed fish, is 
considerable.  In addition, Angola currently expo rts fish and fish products to Congo (D.R.), the 
Republic of Korea, Spain, and Japan.  
25. Fishing is carried out in Angolan water by fo reign vessels (principally  from China, Korea, 
and Spain) leased to, or in joint ventures with, A ngolan enterprises.  Under the new Law on Aquatic 
Biological Resources and related regulations (see sec tion (b) below), foreign vessels may not fish in 
Angolan water;  hence leasing or joint ventures have become the norm. 
26. Supervision of fishing activities (except for high-seas tuna fisheries) is by satellite link 
through a monitoring centre in the Ministry of Fi sheries.  All vessels must be equipped with the 
satellite monitoring system.  Angola possesses three fishery protection vessels and collaborates in this 
area with Namibia and South Africa under a SADC regional programme. 
(b) Principal legislation 
27. Angola adopted a new Law on Aquatic Biological Resources in October 2004.12  T h e  l a w  
aims to establish "regulatory measures that seek  to guarantee the sustainable conservation and 
utilization of the aquatic biological resources exis ting in the waters under the sovereignty of the 
Angolan State, as well as general bases for the ex ercise of activities related to them, particularly 
fishing and aquaculture activities."13  It covers territorial waters, the Exclusive Economic Zone, tidal 
waters, estuaries and inland waters.  It also cove rs the activities of Angolan vessels on the high seas or 
(without prejudice to the laws of other States) when fishing in waters under other States' jurisdiction.  
Subsequently, new regulations were adopted in  2005 concerning concession of fishing rights;  
scientific research into fishery resources in Angolan waters;  fish farming;  fishing in general;  and 
                                                      
10 Lankester (2002). 
11 Lankester (2002). Varieties available in Angolan waters include horse mack erel, sardinellas, hake, 
and tuna (large and small), as well as shrimps and rock lobster. 
12 Law 6-A/04, which replaces the previous Law on Fisheries (Law 20/92). 
13 Law 6-A/04, Article 2. WT/TPR/S/158 Trade Policy Review 
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taxation of fisheries14;  as well as laws and decrees establishing the structure of the Ministry of 
Fisheries, the Institute for Development of Ar tisanal Fisheries and Aquaculture (IPA) and the 
National Institute for Fisheries Research.15 
28. Under the Law, the Ministry of Fisheries fixes total allowable catches (TACs) for each 
species annually.  TACs are carried forward year by  year unless specifically changed.  TACs may be 
reduced by executive decree if new scientific data s how risk of reduction, ex tinction or non-renewal 
of species or zones, or in emergency.  
29. Fish quotas are attributed as percentages of TA Cs for each species or zone, subject to 
payment of a periodic charge.  Quotas may be reduced  proportionally if TACs are reduced;  they may 
also be increased if new boats are purchased or ot her improvements made, to the extent the overall 
TAC is not already exhausted. 
30. Fishing rights (FRs) within Angola's EEZ may be granted, individually or collectively, to 
nationals or foreigners if they are associated w ith nationals in companies with majority Angolan 
ownership.16  Without prejudice to the provisions of the UN Convention on the Law of the Sea, the 
SADC Fisheries Protocol (section (d) below) or ot her international agreements to which Angola is 
party, the law provides that Angolans shall have pr eferences for fishing rights.  FRs in territorial 
waters are granted to Angolan or other SADC na tionals from member states with which there is 
reciprocity.  Concessions may be extended to fishing companies from other SADC member states with which reciprocity exists.  Rights for artisanal fishing and on international rivers or inland waters 
under Angolan jurisdiction, are granted only to Angolan nationals.   
31. Fishing rights are granted for a period of 20 years, and may be transferred with the approval 
of the Ministry.  FRs are allotted by open compe tition;  however, preference is given to Angolan 
nationals (without prejudice to  the terms of interna tional agreements to which Angola is party) and to 
those who have land-based processing and sale insta llations.  Owners of FRs may use fish quotas as 
credit guarantees, with the authorization of the Ministry.  
32. The law provides for the Government to restrict  fishing of species in process of extinction or 
whose sustainability is in danger.  This includes iden tification of degraded marine or aquatic areas and 
definition of rehabilitation measures;  definition of ma rine or inland protection areas;  identification of 
polluting activities and adoption of preventive measures;  definition of fishing methods to be used for 
each type of fishery;  measures to prevent or reduce excessive capacity;  and in general, all measures 
to secure long-term food security.  
33. Licensing of Angolan flag vessels for fishing on th e high seas is by the Ministry of Fisheries.  
Attribution of high-seas fishing licen ces to foreign flag vessels is forb idden;  as is transhipment of 
catch at sea.
 17   
34. In order to monitor fisheries, the Ministry may use fishing diaries, monthly information 
books, fisheries observation programmes, local comm unity observation programmes, and continuous 
monitoring equipment.  Captains must keep on-board  fishing diaries, monthly information books, the 
fishing certificate for the ship, the seaworthiness certifi cate and an authenticated copy of fishing rights 
title.18  Catches must be unloaded in Angolan ports unless otherwise agreed in the fishing rights title.  
                                                      
14 Decrees 14/05, 38/05, 39/05, 41/05, and 43/05. 
15 Decree-Law 3/05, Decree 45/05, and Decree 47/05. 
16 Law 6-A/04, Articles 40-62. 
17 Law 6-A/04, Articles 118, and 123. 
18 Law 6-A/04, Articles 143 and 145. Angola WT/TPR/S/158 
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All cargoes must be declared, even those transhi pped at sea.  As noted above, a satellite tracking 
system has been introduced. 
35. The new Act puts in place a highly comprehensive system to manage and monitor fisheries in 
Angola’s waters out to the Exclusive Economic Zone of 200 nautical miles.19  Its effectiveness in 
preserving fish stocks and managing fisheries for the mutual benefit of Angolans and foreign partners 
will depend on the effectiveness of the management and monitoring mechanisms that can be put in 
place by the Government.  This will depend on human,  shipping and technical resources available, 
either within Angola or with international assistance  
(c) Tariff protection and other incentives 
36. Angola’s tariffs on fresh fish are high, reflecting protection of the sector.  On an HS basis, 94 
out of 96 tariff lines for fresh, chilled or frozen fish (HS chapter 03) are taxed at 20%, with consumption tax adding another 10%;  for most processed fish, the tariff is 15%, again with 
consumption tax at 10%. 
37. Fuel subsidies are extended to small-scale (artisanal) fisheries under Decree 25/98. 
38. Health and sanitary regulations on fisheries are contained in Decrees No. 297/96, on 
preparation and sale of salt for human consumpti on;  13/99, establishing standards of production and 
quality inspection for fish products;  14/99, estab lishing a regular inspection programme for fishing 
vessels and fish processing plants;  Executive Decree 37/02, approving a monitoring system for health 
and sanitary quality of fish products; and Joint Executive Decree 44/02, establishing chemical and 
microbiological standards for analysis of fish pro ducts.  A further regulation on health and sanitary 
requirements for fish products, including fish fa rming, is in process of approval (October 2005). 
(d) International agreements on fishing  
Multilateral 
39. Angola has ratified the United Nations Convention on the Law of the Sea.
20  However, it has 
not ratified the Agreement relating to Part XI of the Convention, or the Agreement for the 
implementation of the provisions of the Conventi on relating to the conservation and management of 
straddling fish stocks and highly migratory fish stocks. 
40. Angola is a member of the International Conve ntion for the Conservation of Atlantic Tunas 
(ICCAT), an inter-governmental fishery organizatio n responsible for the conservation of tuna and 
tuna-like species in the Atlantic Ocean and its ad jacent seas.  ICCAT compiles fishery statistics from 
its members and from all entities fish ing for these species in the Atla ntic Ocean, coordinates research, 
including stock assessment, on behalf of its memb ers, develops scientific-based management advice, 
and provides a mechanism for contracting parties to agree on management measures.21 
 
 
                                                      
19 As defined in United Nations Convention on the Law of the Sea, Part V.  Available at:  http://www. 
un.org/Depts/los/convention_agreements/texts/unclos/part5.htm. 
20 Ratification date:  5 December 1990.  See UN online information.  Available at:  http://w ww.un.org/ 
Depts/los/reference_files/status2005.pdf. 
 21ICCAT currently has 41 contracting parties.  See ICCAT online information.  Available at: 
http://www.iccat.es/contracting.htm. WT/TPR/S/158 Trade Policy Review 
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Regional 
41. Angola is a signatory to SEAFO, the South East Atlantic Fisheries Organization convention, 
providing for a management regime ensuring long-term conservation and sustainable use of fish resources on the high seas of the South East Atlantic  Ocean.  The Convention entered into force in 
April 2003 after the deposit of instruments of ratification by Namibia and Norway and approval by 
the European Communities.  SEAFO will be respons ible for the imposition and maintenance of the 
regime through the establishment and implementa tion of conservation and management measures.
22 
42. Angola is an observer in the Fisheries Commis sion for the Eastern Central Atlantic Region 
(CECAF/COPACE/CPACO), a subsidiary body of th e FAO, whose secretariat is based in Accra, 
Ghana. CECAF was created in 1967 to promote op timum utilization of living aquatic resources by the 
proper management and development of the fisheri es and fishing operations, and the improvement of 
related processing and marketing activities.  Althoug h it has played an important role in research and 
development support for the developing coastal Stat es of the region, it has no regulatory function.23  
43. As a SADC member, Angola adheres to the SADC Fisheries Protocol.  The Protocol 
establishes a type of most-favoured nation cl ause between SADC and other fishing nations.24  It does 
not rule out preferential treatment for SADC vessel s;  as noted above, Angola’s national law provides 
for preferential access for SADC vessel s to Angolan fishery resources.  
44. In June 2005, Angola and Namibia concluded a bilateral agreement within SADC for training 
cooperation in the fields of fishing and aquaculture ;  Namibia will offer training facilities for Angolan 
crews and officers (to operate industrial and semi-i ndustrial fishing vessels), for fisheries inspectors 
and observers (including presence on Namibian fi sheries protection vessels), and for aquaculture 
technicians, resulting in internationally recognized certificates. 
Inter-regional  
45. Angola maintained a fisheries agreement w ith the European Communities between 1987 and 
2004.  The two sides have been in negotiation since its expiry, but the EC broke off negotiations in 
June 2005, on the grounds that Angola's proposal for a new agreement, made in the light of the new 
legislation, was too restrictive.25  Currently there is no agreement in force.  In the absence of an 
agreement, European (mainly Spanish) shipowne rs have established association agreements with 
Angolan enterprises.  A total of ten shrimp fishi ng vessels are permitted to operate in Angola waters 
                                                      
22 Members of SEAFO are Angola, the European Co mmunities, Iceland, Korea, Namibia, Norway, 
South Africa, the United Kingdom (on behalf of St. Helena and its dependencies of Tristan da Cunha and 
Ascension Island), and the United States.  The headquarters  of SEAFO, in Namibia, was opened in March 2005.  
The Ministry of Fisheries and Marine Resources of Nami bia acts as an interim secr etariat.  See SEAFO online 
information.  Available at:  http://www.seafo.org/.  
23 CECAF has 33 members.  Angola, Portugal, Ru ssia and the UK are observers.  See FAO online 
information.  Available at:  http://www. fao.org/fi/body/rfb/C ECAF/ cecaf_home.htm.  
24 Article 10 of the Protocol states that:  1. State Parties shall, subject to their respective national laws, 
cooperate in the establishment of harmonized minimu m terms and conditions for access by non-SADC-flag 
fishing vessels to their fisheries resources;  2. the terms and conditions under which SADC-flag vessels fish in 
the waters of other SADC States shall be no less favourable than  those in paragraph 1;  and 3. State Parties may 
consider the joint negotiation of foreig n fishing access agreements with a regi onal or sub-regional dimension, in 
particular with regard to highly migratory species .  See TRALAC online inform ation.  Available at:  
http://www.tralac.org/scripts/content.php?id=449. 
25 Ministerio das Pescas, Noticias, 22 June 2005 , "UE decdiu romper negociaçãoes com Angola".  
Available at:  http://www.angola-minpescas .com/Home.aspx?tab=1&tab2=1&news=110. Angola WT/TPR/S/158 
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for export to the EC.  For tuna fishing, operators have established agreements with the Ministry of 
Fisheries, which accords fishing ri ghts.  The deep-water fleet has been reduced from 48 to 35 vessels. 
(3) MINING AND ENERGY  
(i) Mining  
(a) Features 
46. Angola has a wide variety of mineral resources.  Apart from diamonds, these include iron ore, 
marble, granite, and to a lesser degree gold, manga nese, copper, lead, zinc, tin, tungsten, vanadium, 
titanium, chromium, phosphates, beryl, quartz, kaolin  and gypsum, although it is reported that in these 
latter areas few of the known deposits have been fully assessed.26 
47. Mining activities in Angola, apart from diamond mining, are governed by the Law on 
Geological and Mineral activities (Law 1/92).  The tax regime for the sector is defined in Decree No. 4-B/96, and customs concessions under Decree No. 12-B/96. 
48. Under the Constitutional Law, all minerals bel ong the State.  The Ministry of Geology and 
Mines manages mineral exploration and development.   Prospecting licences, issued for five years, 
must be approved by the Council of Minister;  mining licences, which vary in duration in line with the 
estimated life of the mine, must also be approved.  Prospecting and mining licences are not 
transferable, assignable or negotiable without ap proval of the Council of Ministers.  Mining 
companies may be State owned, mixed, or privat e companies, joint ownerships or parternships. 
(b) Diamonds 
History
27 
49. Diamond mining has been practised in Angola since 1912, when alluvial (river bed) diamonds 
were originally found in the Luanda region of north-eastern Angola.  The Companhia de Diamantes 
de Angola (DIAMANG), set up in 1917, became the principal diamond extraction enterprise in the 
country during the period of Portuguese rule.  It expl oited alluvial and eluvial (debris-based)) deposits 
and used river diversion techniques to reach diam onds on river beds and banks. Diamonds were the 
main export from Angola until immediately after the Second World War, when they were replaced by 
coffee and subsequently by oil.   
50. During the civil war, particularly from th e late 1980s onwards, diamond production and 
exports were a major source of finance for UNITA;  despite United Nations sanctions against illegal 
diamond exports from Angola28, by 2001 “conflict diamonds” exports from Angola were estimated to 
                                                      
26 Hodges (2004). 
27 Hodges (2004). 
28 United Nations sanctions against UNITA were initiated in 1993 under General Assembly Resolution 
863.  Resolution 1173 of 1998 prohibited direct or indirect imports of diamonds from Angola.  A 1999 report by 
the Secretary-General (S/1999/49) recommended improvemen ts to the implementation of the measures against 
UNITA.  Following visits to Angola in 1999 by the Chairman of the Sanctions Committee and a viewing of videotaped interviews giving details, inter alia , of UNITA’s use of diamonds as currency for purchasing 
weapons, the Security Council established a mechanism to collect and verify information concerning violations 
of previous sanctions.  Sanctions against UNITA were finally ended under Resolution 1448 in December 2002.  See United Nations (2002).  WT/TPR/S/158 Trade Policy Review 
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be “equivalent to the production of an entire country”.29  The Kimberley Process (see below) was a 
major step in curbing illicit diamond exports from Angola. 
Current reserves and production estimates.30 
51. Angola has extensive diamond reserves, estimated at possibly 180 million carats (mct).  As 
well as alluvial and eluvial deposits, Angola has subs tantial kimberlite (deep mine) deposits; to date, 
approximately 700 kimberlites have been located.  Most kimberlites are located along a north east - south west axis that extends into the neighbouri ng Democratic Republic of the Congo (DRC).  Almost 
all of Angola’s diamonds are of gem, or near-gem qu ality, fetching the highest price per carat in the 
world.
31  In 2003, Angola sold between 5.3 mct and 6 mct of diamonds, at a value of about 
US$1 billion.  
Principal laws and regulations 
52. The principal laws and regulations in force are Law No. 16/94 (Law on Diamonds), and Law 
No. 17/94 (Law on Special Regime for Diamond Rese rves);  Decree No. 4-B/96, establishing the tax 
regime for the mining sector, and Decree No. 12- B/96, establishing customs concessions, apply 
equally to the diamond industry. 
Mining rights 
53. Law No. 16/94 vests all diamond mining rights over the whole national territory in 
ENDIAMA, the State diamond company.  It also legalizes artisanal mining of diamond deposits within demarcated areas, thus bringing under le gal control the previously unregulated small-scale 
mining by “garimpeiros”.
32  Such artisanal mining rights are supposed to be granted to local people 
who have lived for at least ten years in the surroundi ng communes.  However, as noted below, a large 
number of illegal operators still function in the areas. 
54. Law 17/94 regulates access, circulation of pers ons and goods, rights to residency, and 
exercising economic activities in diamond-bearing zones.  The entire provinces of Lunda North and South are considered as reserved zones, subdivided into "restricted", "protected" and "artisanal production" zones.
33  All residents in the zones must be registered, either as permanent or provisional, 
and residence is determined by licence issued by the provincial Governor.  Goods entering the zones 
must have transit certificates, transport cards or  other identifying documents, and are subject to 
taxation by the fiscal police;  the Governor may restrict or attach conditions to the entry or exit of goods.  Exercise of commercial or industrial activity, including farming and fishing, and including by 
the settled population, must be expressly authorized by the Governor, who may also limit or forbid 
any activity in the interests of preventing illegal mining.  In these ways, the Government and its 
provincial agencies maintain strict control over all types of economic or personal activities in the 
diamond-mining zones. 
 
                                                     
 
29 Hodges (2004) quoting United Nations (2001). 
30 Information mainly drawn from Mbendi Information Services (2005a). 
31 Hodges (2004) notes that in 2000, Angola’s diamond exports had an average price of US$171/carat, 
with the most valuable fetching more than US$300/carat. 
32 It was estimated in 2004 that some 290,000 individuals, including 90,000 foreign nationals, were 
illegally mining diamonds in several provinces of Angola ( Afrique Express , 2004). 
33 Law 17/94, Articles 2 and 3. Angola WT/TPR/S/158 
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Fiscal regime 
55. Decree 4-B/96 covers the general fiscal regime for the mining sector, including profits tax 
(imposto de rendimento ), royalties ( imposto sobre o valor dos recursos minerais ), and land tax ( taxa 
de superficie ).  
56. Generally, the profits tax on the mineral sector is set at 35%.34  Costs of prospecting, 
exploration, and reconnaissance ( reconhecimento) may be offset and depreciation rates for equipment 
are set at 20%, 25% or 33.3%, depending on the t ype.  Enterprises must also establish a provision to 
cover the costs of environmental rehabilitation, at a ra te fixed jointly by the Ministry of Finance, the 
Ministry of Geology and Mines and the Ministry of Urbanism and Environment.  Dividends 
distributed by mining companies are subject to capital gains tax ( imposto sobre aplicação de 
capitais).  
57. Royalties are charged on the value of minerals extracted, or of concentrates once they have 
been treated.  The value of minerals extracted is b ased on the average price of previous sales or, when 
that is not possible, on the median international price quotation.  The royalty rates are 5% for precious stones and metals, 4% for semi-precious stones, 3% for metallic minerals, and 2% for other minerals. 
58. The land tax is based on the area under prospecti on, exploration or exploitation, expressed in 
square kilometres.  It is set at US$1 per km
2 for the first two years, US$3 per km2 for the third year, 
and US$4 per km2 for the fourth and fifth years of a con cession.  If licences are renewed in favour of 
the same concessionaire, the rates of land tax are tripled. 
Tariff regime 
59. The nominal average tariff on the mining and qua rrying sector (ISIC 2) is 13.7%, with rates 
ranging from 5 to 30% (Table AIV.1).  The peak rate of 30% is levied on stone-based products for 
road building and other construction, and on precious  or semi-precious stones.  At the same time, the 
mining sector, including diamond mining, benefits from  a wide range of duty-free tariff concessions 
on equipment and other goods (Table AII.2).  This is likely to raise the effective protection of the 
sector considerably above the nomin al rate, which is already high. 
State participation in diamond mining and trade  
60. ENDIAMA, the State diamond company, formed  in 1981, is involved in all aspects of 
diamond trading in Angola.35  It acts as concessionaire for deep mining and alluvial mineral 
exploitation;  it negotiates contracts and passes them fo r approval to the Cabinet;  and it participates in 
its own right, as a major producer, often in joint vent ures with foreign enterprises.  As a State entity 
with links to the highest levels of Governme nt, ENDIAMA has considerable and all-embracing 
economic and political power in the sector.   
61. Under the Diamonds Act, ENDIAMA is the only official body responsible for negotiation and 
supervision of diamond mining contracts.  It ma y also participate with foreign and Angolan 
companies in mixed companies, joint ventures, a nd other contractual arrangements for prospecting 
and production in specified concession areas. In ne gotiating concessions, ENDIAMA must obtain the 
permission of the Ministry of Geology and Mines, th e Ministry of Finance, the National Bank, and the 
Governor of the relevant province before submitting them for Cabinet approval via the Ministry of 
                                                      
34 Decree 4-B/96, Article 7. 
35 The former DIAMANG was dissolved in 1988.   WT/TPR/S/158 Trade Policy Review 
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Geology and Mines.  Once approved by the Cabinet, diamond mining contracts are sent back to the 
Ministry of Geology and Mines, which passes copies  to the Ministry of Finance, the National Bank, 
and the Governor of the province.36 
62. Currently, ENDIAMA has a 35% share in th e Associação Chitotolo, which operates the 
Chitotolo diamond quarry;  a 50% share in the So ciedade de Desinvolvimento Mineiro de Angola, 
which operates a concession in the River Cuango region  in Lunda Norte province;  a 33% share in the 
Sociedade Mineira de Catoca, which operates th e Catoca kimberlite mine; a 20% share in the 
Sociedade Mineira do Angola, which is developing the Camafuca kimberlite mine, expected to be the 
world’s largest;  a 40% share in the Luarica mine;  and it is the principal in the Camuanza project.  
ENDIAMA maintains joint ventures with Brazilian, Russian, Israeli, and South African partners.37  
63. In May 2005, De Beers, which had suspende d operations in Angola in May 2001, announced 
that it had agreed a joint venture contract with EN DIAMA, reported to be initially for five years, to 
explore for further kimberlite deposits in the Lu nda Norte province of northern Angola.  The 
agreement provides for the further establishment of  a joint-venture company that will be granted 
exclusive mineral rights for deposits that may be discovered and found economically viable to mine 
and market.38 
64. The monopoly of the State-owned company, Ascorp, on diamond marketing, was ended in 
August 2003.  Marketing of diamonds from large-scal e formal sector companies is now undertaken 
through a joint-venture company, SODIAM (see below).  
The “Kimberley process”, and certification of origin by Angola 
65. During the 1990s, concern increased in the in ternational community over the increasing 
quantity and value of "conflict diamonds", exported from African c ountries experiencing civil wars, 
including Liberia, Sierra Leone, and Angola.  S outhern African producing States met in Kimberley, 
South Africa in May 2000 to find a way to stop the trade in conflict diamonds – an initiative that became called the "Kimberley Process".  In D ecember 2000, the UN General Assembly adopted a 
resolution supporting the creation of an international certification scheme for rough diamonds.
39 
66. Responding to this, in October 2002, the In ternational Diamond Manufacturers Association40, 
and the World Federation of Diamond Bourses41 presented an industry-based system of self- 
regulation, under which each member organization of the two associations undertook to require its 
members to implement systems of guarantees that diamonds traded are “conflict free”, and a code of conduct obliging members not to buy, sell, or assist others to buy or sell conflict diamonds.
42  This 
was welcomed by the then 37 member Government s and the European Communities participating in 
                                                      
36 Law 16/94, Article 4. 
37 See Mbendi Information Services online.  Ava ilable at:  http://www. mbendi.co.za/orgs/cbhf.htm. 
38 Joint Statement from ENDIAMA and De Beers, 17 May 2005.  Available at:  http://www. 
debeersgroup.com/NR/rdonlyres/71E31561-C749-4E67-B746-444DEC5A76DB/1239/MR270505_Angola.pdf. 
39 United Nations General Assembly Resolution No. 55/56. 
40 An international federation of 12 diamond manufacturers’ associations, formed at the end of the 
Second World War and centred in Israel.  Further info rmation is available at:  http://www.diamond-il.co.il/ 
English/NEWS.aspx?boneid=1092.  
41 An international federation of 25 diamond trading exchanges and associations, formed in 1947.  
Further information is available at:  http://w ww.worldfed.com/website/boursedirectory.html.  
42 See International Diamond Manufacturers’ Association/World Federation of Diamond Bourses, 
October 2002.  Resolution:  Industry System of Self Regulation.  Available at:  http://www.kimberleyprocess. 
com:8080/site/www_docs/related_docs1/wdc_resolution_0210.pdf. Angola WT/TPR/S/158 
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the Kimberley Process, in their In terlaken Declaration of 5 November 2003, adopting the Kimberley 
Process Certification System.43   
67. Following the Interlaken Declaration, the WTO General Council accepted a waiver for the 
Kimberley Process on 15 May 2003.44  The waiver covers Articles I:1;  XI:1;  and XIII:1 of the GATT 
1994, from 1 January 2003 until 31 December 2006 in re lation to measures taken by signatories to the 
waiver implementing the Kimberley Process Certification Scheme.45  Any WTO member that so 
wishes may be covered by the waiver, subject to notification to the Council for Trade in Goods.46 
68. Angola is not, to date, a signatory to the waiv er and has not notified any information to WTO 
on measures taken by it under the Kimberley Process. 
Angola’s origin certification system 
69. Following the introduction by the United Nati ons of sanctions on UNITA’s diamond trading 
activities in 199847, Angola was the first country to introduce a certificate of origin for its diamonds, 
in 1999.  This system was, however, unable to cover diamonds traded by UNITA, and it was widely 
criticized by a United Nations Pa nel of Experts reporting in 2000.48  In response to these criticisms, 
the Government introduced a new, serial-numbered,  unalterable Certificate of Origin in 2001 and 
implemented a single-channel marketing system through the Angola Selling Corporation (ASCORP). 
A subsequent report to the UN Security Council was ab le to say, in 2002, that “The new certificate-of-
origin scheme has had no reported problems.  Impor ts into Antwerp and Tel Aviv are monitored by 
the authorities.  The Monitoring Mechanism is satis fied that Angola now has a verifiable diamond 
export system.”49   
70. In July 2004, at the end of ASCORP’s cont ract, control of the single-channel marketing 
system was passed to ENDIAMA’s joint-venture subsidiary, Sociedade de Comercialização de 
Diamantes (SODIAM), linked with the Israeli/Russian Leviev group.50  Diamonds from officially 
recognized mining operations are sent directly from the mines to SODIAM, which then exports the diamonds to their final destination;  75% of total pr oduction is exported to Israel, with the rest to EU 
destinations and Dubai. 
71. There remains a widespread problem with “artisanal” diamonds and “illegal” diamond 
activity throughout the northern region of Angola.  It is estimated that, despite the expulsion of many illegal miners, there are still some 200,000 active in Angola, and SODIAM has estimated that 
diamond smuggling amounts to some US$2 million per month.  At present, it is reported, there is no 
                                                     
 
43 Currently, 43 States and the European Communities have met the minimum requirements of the 
Kimberley Process Certification Scheme, online inform ation.  Available at:  http://www.kimberleyprocess. 
com:8080/site/?name=participants. 
44 WTO document WT/L/518. 
45 Members implementing the waiver are Australia, Br azil, Canada, Israel, Japan, Korea, Philippines, 
Sierra Leone, Thailand, United Arab Emirates, and the United States.  See also WTO (2005). 
46 WTO document WT/L/518, paragraph 4.  
 47 United Nations General Assembly Resolution 1173. 
48 See United Nations document S/2000/203, 10 March 2000, paragraphs 94-98, which stated, inter 
alia, that "the laxity of controls w ithin Angola has also greatly facilita ted the smuggling of rough diamonds, 
including those from UNITA controlled areas.  Pending the introduction of new legislation which has been 
promised, it has been possible for virtually anyone in A ngola legally to possess, buy or sell diamonds within the 
country.  The wide open nature of the market within Angola would have made it relatively easy for UNITA to 
'launder' its diamonds through official channels".  
49 United Nations document S/2002/1119, 16 October 2002, paragraph 137.  
50 See Mbendi Information Se rvices (2005), "Overview". WT/TPR/S/158 Trade Policy Review 
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system for determining the origin of diamonds from the artisanal sector, apart from records of 
purchases kept by buying offices.51 
72. ENDIAMA emphasizes that through its "F ondacion Brilhante" it is supporting social 
development programmes for communities where there are mining projects.  Attempts are being made 
to reemploy garimpeiros (informal sector miners) in  legal exploration as well as in civil building and 
construction projects. 
(ii) Energy 
(a) Petroleum 
Introduction 
73. The oil industry has been the major contributor to Angola's economy and public finances for 
many years.  Operating offshore, largely separated from the rest of the economy, it was able to avoid the economic disruption caused by the civil war.  The petroleum sector accounts for over 50% of 
Angola’s GDP, and about 80% of government revenue in 2004.
52  As with diamonds, the State, 
operating through the Ministry of Petroleum and the national oil company, Sonangol, maintains full control of operations in the sector and authorizes all investments in exploration and production.  
Sonangol has also carried out a variety of "quasi-fi scal" operations on behalf of the Government.  This 
situation has been strongly criticized by internati onal observers as lacking transparency and giving 
scope for corruption and misuse of funds.  A rece nt study carried out for the Government by the 
international accounting firm KPMG highlighted a large number of problems relating to structural, 
management and accounting issues in the oil sector , and made strong recommendations on how to 
rectify these concerns.
53 
74. Oil prospecting and exploration have been carri ed on in Angola since 1910, with the first well 
drilled in 1915.54  The first exploitable discovery, however , was made in 1962, and production began 
in 1968 in shallow waters off the Cabinda coast.  Production or exploration is now taking place in 34 
defined blocks (both shallow- and deep-water) off the entire coast of Angola, with production 
focussed largely in the no rthern off-shore area.   
75. Petroleum has been Angola’s largest export since 1973.  During the 1990s, output expanded 
rapidly, with the exploitation of deep-water fields  off the north and central coastlines.  Angola is now 
sub-Saharan Africa’s second largest oil producer, with  proven reserves of 5.4 billion barrels of oil and 
estimated natural gas reserves of 1.6 trillion cubic feet (Tcf) and possibly much higher.55  Crude oil 
production is currently around 1 m illion barrels per day (bpd) and is  expected to double by 2008. 
                                                      
51 Partnership Africa Canada (2005). 
52 UNDP (2005b).  
53 See IMF (2003a), "Angola: Sources  and Uses of State Oil Revenue", IMF (2005b), Section I, "Oil 
Sector and Government Revenue";  KPMG (2004), and Human Rights Watch (2004).  
54 Sonangol online information.  Available at:  h ttp://www.sonangol.co.ao/corp /oilinangola_en.shtml.  
55 The Sonangol corporate presentation for the 18th World Petroleum Congress, held in Johannesburg in 
September 2005, states that new discoveries could push the level of gas reserves to 9.5 Tcf, and possibly as high 
as 25 Tcf.  Online information.  Available at :  http://www.18wpc.com/about _hosts_sonangol.html.  Angola WT/TPR/S/158 
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76. Moving with world markets, the price of Angola 's oil increased by 80% between January and 
September 2005, from some US$35 per barrel to a pe ak of US$63.41 on 2 September:  following that, 
it fell back somewhat (to US$51.76 in mid-November 2005).56 
77. The main Government ministries involved in pe troleum issues are the Ministry of Petroleum 
and the Ministry of Finance.  Since 1978, how ever, Angola’s oil development policy has been 
effectively operated via the State-owned oil company, Sociedade Nacional de Combustiveis de 
Angola  (Sonangol).   
78. The principal legislation governing the petroleu m sector is in Law No. 10/04 of November 
2004 (Law on Petroleum Activities), which replaced  Law No. 13 of 1978; and Decree No. 37/00 of 
October 2000, which governs processing, distribu tion, transport, and marketing of petroleum 
products.  The customs regime for the petroleum sector is set out in Decree 11/04. 
Sonangol 
79. Sonangol, the State-owned oil company, is the major actor in Angolan oil.  Like ENDIAMA 
in diamonds, it is both a producer, individually or th rough joint ventures with or shareholdings in 
other companies, and a distributor of petroleum;  it is also the only body authorized to grant 
concessions to others.  It is therefore able to exer cise considerable power and influence in the sector.  
80. The company was originally established in 1976.57  Its governing legislation was revised in 
1999, to bring it into line with the Law on Public Enterprises of 1995.58 Sonangol’s main activities are 
“prospecting, investigation, transport, marke ting, refining and processing of liquid or gaseous 
hydrocarbons and their derivatives, including petrochemical activities”.59  It may create new 
enterprises, acquire part of or whole of other co mpanies and intervene in their management to the 
extent that it possesses partial or total voting sh areholdings;  and establish appropriate forms of 
association or cooperation (such as joint ventur es) with other national or foreign entities.60 
81. Sonangol was named as the sole concessionaire of  Angolan oil exploration and extraction in 
1978.61  Under the Law on Petroleum Activities, Sona ngol is the exclusive holder of oil and gas 
prospection, investigation, and production rights.  It  retains a majority share in all joint-ventures and 
contracts of association.  Normally, such joint ventures or contracts must be allocated through open 
competition;  however, they may also be allocated  by direct negotiation if the public competition has 
failed to appoint a partner company or the Ministry  of Petroleum decides that proposals presented are 
unsatisfactory.62 
82. Sonangol comes under the legal tutelage of the Ministry of Petroleum.  The company has the 
task of executing national petroleum polic ies, as determined by the Government.63  Its Council of 
Administration, of five members, is nominated by the Council of Ministers on the recommendation of the Ministries of Petroleum and Finance.  A Superv isory Council of three members, named by the two 
                                                     
 
56 U.S. Energy Information Administration, Weekly Petroleum Status Report, World Crude Oil Prices, 
online information.  Online information.  Available at:  http://www.eia.doe.gov/pub/oil_gas/petroleum/data_ 
publications/weekly_petroleum_status_report/current/pdf/table13.pdf. 
57 Decree 52/76. 
58 Decree 19/99. 
59 Decree 19/99, Article 4. 
60 Decree 19/99, Article 6. 
61 Law 13/78, (replaced by Law 10/04). 
62 Law 10/04, Article 44. 
63 Decree 19/99, Article 12. WT/TPR/S/158 Trade Policy Review 
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Ministries, carries out the financial supervision of  Sonangol.  Managers of enterprises in which 
Sonangol has majority holdings, which supply servi ces against remuneration to Sonangol, or which 
exercise functions in competing or associated comp anies, may not be members of the Supervisory 
Council.  Day-to-day management is by a Mana gement Council chaired by the President of the 
Council of Administration and containing ma nagement and workers’ representatives. 
83. Sonangol may transfer the execution of exploration and production rights to others and 
conclude contracts with third parties in this connection.64  Currently, there are 30 concessions for oil 
and gas in Angola, mainly offshore, operated by foreign companies, either as joint ventures under the 
“tax and royalty” regime, or in production-sh aring agreements in association with Sonangol’s 
production subsidiary, Sonangol Pesquisa e Produção (Sonangol P&P).65  
84. Sonangol has a large number of subsidiari es inside and outside Angola including:  
Distribuadora SA, its local oil distribution subsid iary;  Sonangol P&P, its production company;  
Sonair SARL, an air transport company serving oil s ites and with a direct li nk to Houston, Texas;  
MSTelCom Angola, a telecommunications company; Sonangol Ltd. and Sonangol USA, oil trading companies in London, UK, and Houston, Texas;  Sonangol Shipping, a crude oil shipping enterprise;  
Sonaship, a shipping company focusing on Angolan  and other African supply routes;  and ESSA, an 
oil services company.
66 
85. The principal foreign operators currently involved in Angola are AGIP (Italy), 
ChevronTexaco (US), BHP (Australia), BP ( UK), ExxonMobil (US), Occidental Petroleum OXY 
(US), Ranger Oil (Canada),  and TotalFinaElf (Fra nce), with a range of associated companies and 
partners from many countries.67  
Revenue and fiscal aspects 
86. As noted, the petroleum sector accounts fo r some 75% of Government revenues.  A 
significant proportion (almost 48% in 2003) comes from  the Government's share of "profit oil" under 
production-sharing arrangements (PSAs), through Sonangol, with international oil companies68;  the 
rest is from bonuses paid by oil companies on signature of PSAs, and production taxes paid by oil 
companies including Sonangol (oil income tax, tran sactions tax, oil production tax and royalties). 
87. According to IMF estimates, between 2000 and 2004, Government oil revenue, while 
remaining relatively stable, declined from 53% to 43%  of the value of oil production, varying also 
from block to block according to various factors su ch as differences in tax regimes, structures of 
profit-sharing agreements, production costs, maturiti es of fields, and variability in oil prices and 
quality.69  Projections of revenues for 2005-08, based on highly conservative price assumptions, 
showed the Government's revenue ri sing from US$4-5 billion to US$9-10 billion.70   
                                                      
64 Decree 19/99, Article 10. 
65 For a full description of the Angolan petroleum tax regime, see IMF (2005b). 
66 Wikipedia online encyclopaedia lists 18 Sonangol subsidiaries, including the Banco Africano de 
Investimentos, the Bank of Commerce and Industry, as well as directly o il-industry related companies.  See 
http://en.wikipedia.org/wiki/Sonangol_Group. 
67 Sonangol online information.  Available at:  h ttp://www.sonangol.co.ao/corp /operators_en.shtml.  
68 Sonangol retains 10% of Government profit oil (IMF, 2003). 
69 IMF (2005b). 
70 IMF (2005b).  Long-term oil price projections used in these (Angolan Ministry of Finance) 
projections are considerably below pr esent spot price and futures levels. Angola WT/TPR/S/158 
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88. According to the IMF, Sonangol also carries out  a variety of non-commercial activities, 
including quasi-fiscal and subsidiary operations.  These include the receipt of compensation for subsidies on domestic sales of refined petrol eum products, revenue from delivery of petroleum 
products to public enterprises, payments for certain  contracts on behalf of public enterprises, and 
expenditures on behalf of the Ministries of Foreign Affairs and Territorial Administration.
71  Despite 
improvements in general fiscal transparency (Chapter I), the IMF noted in 2005 that there was still "a 
lack of adequately reconciled data for paymen ts and liabilities by oil companies, and limited 
information on their costs and contracts". 
89. As noted in Chapter III (5)(iv), the prices of pe troleum products in the domestic market (LPG, 
gasoline, paraffin, diesel, light fuel oil, heav y fuel oil, and asphalt) are heavily subdised. 
Tariff Regime 
90. Imports of petroleum and petroleum products  (ISIC sections 22 and 353) bear nominal 
average tariffs of 20% and 16.8% respectively, w ith duties on refined products ranging from 5% to 
20%.  Imports of most chemicals are taxed at 2% or 5%. 
91. As for the mining sector, Angola operates a very fa vourable regime for imports for use in the 
oil and gas industry (Table II.4).  Under Law 11/04,  the sector benefits from duty-free imports of a 
wide range of goods covering capital equipment, vehicles, instruments, components, spares and 
inputs, as well as training materials, safety equipmen t, aircraft, boats, and other equipment.  This 
considerably increases the effective protection of th e industry over the nominal levels of protection. 
Diagnostic study of Angola's oil revenues 
92. The international accounting firm KPMG was engaged by the National Bank of Angola 
(BNA), acting as agent for the Ministry of Finance,  to conduct a diagnostic study of State petroleum 
revenues.  It delivered its report in  March 2004 and the report has been  released by the Government as 
a measure of transparency (Box IV.2).72 
Reserve fund for oil excess income 
93. In September 2004, the Council of Ministers appr oved the creation of a special reserve fund 
in the BNA to hold excess receipts stemming from the difference between the oil prices at the time 
and the reference price of US$22.6 per barrel on which the 2004 Budget was based.  The fund was 
reported to have been destined to cover "eventual crises", or Angola's fiscal deficit.73  The Secretariat 
has no information on the present state of this fund. 
 
 
  
                                                     
 
71 IMF (2003). 
72 KPMG (2004).  
73 Economist Intelligence Unit (2004b). WT/TPR/S/158 Trade Policy Review 
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Box IV.2:  KPMG recommendation s on the petroleum sector 
Technical matters:   repairs to sampling and metering systems in oilfields;  rigorous cost audits by 
independent auditors;  improved procedures for approval of expenditures and work orders;  and procedures 
for sealed bids and approvals for large contracts.   
Legislative, fiscal and contractual arrangements:  the Government should establish a legal taskforce, 
chosen by the Deputy Prime Minister, to review petroleum legislation;  the law requiring all export sales to 
be processed through the Central Bank should be en forced and the recommendations of a working group set 
up to review petroleum legislation should be consider ed carefully and impartially before finalizing any 
decree;  Sonangol should submit invoices to the Tax Directorate to support its operating costs;  payment of 
gross profit oil to the Ministry of Finance and raising of the commission charge should be two separate 
transactions; and a review of the present production sharing regime should be undertaken by independent specialists with the aim of making recommendations to simplify the system.  
Revenue inflows and outflows:  the Tax Directorate should ensure that legislation on timing of tax payments 
and arrears is adhered to, and should prepare tables showing over each 12 months the timing of taxes received during the period;  detailed workings to suppor t the calculations of the Gove rnment's share of profit 
oil and Sonangol's equity share should be prepared by Sonangol;  a system of regional payments should be 
administered centrally;  all bonus payments should be made direct to the Ministry of Finance via the BNA;  funding of community and social development projects should be through central government, channelled 
through the planning authorities or Ministries responsible;  and the Government should develop a database 
and recording system that will allow the identification of international financing collateralized against 
existing and future petroleum production. 
Accounting standards :  Sonangol and the BNA should implement International Accounting Standards (IAS) 
as soon as possible, and Sonangol and the Bank of Angola should adopt Financial Consolidation in 
accordance with IAS;  the Government  should establish a review team to assess the transition to the new 
accounting legislation during 20 03;  Sonangol’s joint venture companies should be registered in Angola and 
subject to Angolan taxation and foreign exchange regulation;  and the BNA should improve its accounting for 
oil financial flows transactions.  
Institution-strengthening:   the Government should establish a stand-alone Petroleum Revenue Management 
Agency;  the dual functions of Sonangol should be separated so that the Government becomes the 
concessionaire and regulator;  an independent review should be undertaken of the function and structure of 
the Ministry of Petroleum;  the review should investig ate the funding required to implement changes;  and a 
programme should be implemented for the complete transfer of the oil field assets and equity interests of 
Sonangol Holding to Sonangol P&P.  
Managerial capacity enhancement:   a training programme should be developed for the staff of the 
Petroleum Revenue Management Agency prior to its establishment and operation;  further work should be 
undertaken on the financial model to improve and enhance its capability, make it more accessible to non-
specialist users and provide tailored reports;  the fi nancial model forecasting petroleum revenues should be 
used by the Petroleum Revenue Management Agency in the process of connecting data inputs and projections 
of current and future oil industry activity;  and the financial model should be developed in parallel with the 
establishment and operation of the Petroleum Revenue Management Agency and the appointment of the 
requisite skills. 
Source: Ministry of Finance/KPMG (2004), Assessment of Angolan Petroleum Sector – Final Report , 
Volume 1b – Executive Summary.
 Angola WT/TPR/S/158 
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(b) Electricity 
94. Some 80% of Angola's power production is hydr oelectric. Supply is assured by three major 
schemes, linked to three important hydro basins,  tho se of the Kuanza, Catumbela, and Cunene rivers.  
The remaining 20% comes from oil-powered plants;  investments have been made to increase output 
capacity for Luanda, which is responsible for more th an half the country’s electricity consumption.   
95. The basic law governing electric power is La w 14-A/96 of 31 May 1996.  The law provides 
for a mixed public-private structure of electricity production and distribution.  The fundamental 
responsibility for electric power production and distri bution is in the hands of the Rede Nacional de 
Transporte de Energia Eléctrica (RNT).74  The State may grant concessions for public production, 
transportation and distribution of electricity to pub lic or private operators, and each installation must 
also be licensed.  Electricity tariffs are to be set  by the RNT with the joint objective of assuring "the 
lowest possible price to the consumer compatible with quality of service provided" and "a reasonable 
level of productivity".75  If the authorities decide to subsidize electricity supply at an unprofitable 
level of price, operators are to be compensated. 
(4) MANUFACTURING  
(i) Features 
96. The manufacturing sector in Angola accounted for 16% of GDP in 1973, essentially 
contributed by foodstuffs and other consumer good s.  In 1975, production had already decreased by 
some 75%;  IMF data for 2003 estimated the share of  manufacturing at 3.8% of GDP (Table I.3).  The 
authorities estimated "industrial production" (a broa der definition than "manufacturing") to account 
for some 10% of GDP in 2002.76  Oil refining, drinks, and construction materials are the principal 
industries currently active. 
97. Angola's reindustrialization strategy was form ulated in 2002, updating an earlier Directive 
Plan of 1994.  The strategy is based jointly on im port substitution and export promotion, with four 
main pillars:  development of industries with links to the primary sector and labour-intensive 
industries;  redevelopment of import-substitutin g industrial sectors;  promotion of industries 
producing exportable goods that may have presen t or potential comparative advantage;  and 
development of large-scale, technology-in tensive industrial projects (Box IV.3). 
98. The laws regarding promotion of private i nvestment are seen by the authorities as a 
fundamental underpinning for Angola's reindustr ialization strategy.  These include the Law on 
Industrial Activities (Law No. 5/04), the Law on Prom otion of Angolan Private Enterprise (Law No. 
14/03), the Basic Law on Private Investment, and th e Law on Fiscal Incentives to Private Investment. 
99. The Law on Industrial Activities lays down the basic structure for industrial licensing by 
tutelary Ministries, other than in sectors governed by  specific legislation (e.g. mining, petroleum), as 
well as requirements relating to safety, insurance,  and land registration.  The Law on Promotion of 
Angolan Private Enterprise seeks to establish prefer ential conditions for Angolan investors and reduce 
the inequality of competition between local and fore ign enterprises through fiscal incentives, financial 
support, and technical support.  It is not clear how far this law has been used, in practice, to favour 
local over foreign investors. 
                                                      
74 Law 14-A/96, Article 9. 
75 Law 14-A/96, Article 41. 
76 National Private Investment Agency online.  Available at:  http://www.iie-angola-us.org/investment. 
htm. WT/TPR/S/158 Trade Policy Review 
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Box IV.3:  Angola's Reindustrialization Strategy  
The conclusion of peace in Angola opened the possi bility for increasing the pace of development and 
reducing poverty. In 2002, the authorities drafted a Rein dustrialization Strategy for Angola, bearing in mind 
three main elements: the regional economic integratio n process within SADC; the evolution of Angola’s oil 
sector; and the development and transformation of Angola's financial and trade system under negotiations with the IMF. 
The strategy has four pillars: 
The first pillar gives particular attention to industries with links to the primary sector and labour-intensive 
industries, in order to satisfy the basic needs of the population; create a significant  number of jobs; achieve 
better income distribution;  increase purchasing power;  and generate higher levels of savings;   
The second pillar seeks to focus on redevelopment of import-substituting industrial sectors in which Angola 
previously had significant production capacity, such as drinks, textiles and clothing, dairy products, 
processed fish products, milling, vegetable oils and derivatives, rice-hulling, tyre and inner-tube 
manufacture, construction materials, wood produ cts and furniture, fertilizers, and plastics. 
The third pillar seeks, in addition, to promote industries producing exportable goods that may have present 
or potential comparative advantage, focusing on oil derivatives;  non-metallic minerals (e.g. high-phosphate-
content rock and cement);  wood and its products;  textiles;  sugar and its products;  paper pulp; tobacco and processed tobacco;  decorative and semi-precious stones;  non-ferrous metals;  and vegetable oils;  
The fourth pillar envisages the development of large-scale, technology-intensive industrial projects, with 
foreign direct investment, with or without State partnership, in sectors that may be regarded as "clusters" or 
catalysers of industrial development, such as petrochemicals;  refined petroleum;  aluminum processing;  
liquid natural gas (LNG) and its by products;  and methanol and ammonia. 
The declared export diversification strategy aims to reduce the vulnerability of the economy to changes in 
the external environment and to diminish the commercial risk resulting from a small export base; to increase export receipts and reduce their instability; and to impr ove productivity through gr owth in the number and 
variety of exports.  The authorities are considering in troducing incentives for export development, such as 
compensation for exports, reimbursement of duties, and establishment of export processing zones. 
Angola has designated three "industrial development poles", in Luanda, Benguela, and Cabunda, in addition 
to the priority areas A, B, and C mentioned in the Law on Foreign Investment. 
Source:   ANIP (2004) Angola and Investment Opportunities, Luanda. 
(ii) Tariff regime 
100. Tariffs on manufactured goods vary according to the sector.  Among the sections subject to 
the highest rates, of 30%, are food, beverages, and tobacco, and wood products;  other chemicals; 
stone and cement-based construc tion materials; and miscellane ous machinery and equipment 
(Table AIV.1).  Tariffs on 760 lines were increased in 2005 (Box III.1).  Industrial products newly 
charged at the highest rates of 20% and 30%  in clude building stone and cement, and other building 
materials and equipment;  tyres;  certain wood pr oducts;  and trucks.  The new increases reflect 
Angola's selective approach to its imports substitutio n policy and the provision of effective protection. 
(5) SERVICES  
(i) Features 
101. The services sector, including commerce, accounts for approximately 30% of Angola's GDP, 
lower than in many developed and developing countries (Table I.3).  Angola is opening up its services 
sector,  especially in banking, finance, and telecommunications. Angola WT/TPR/S/158 
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(ii) Commitments under the GATS 
102. Angola's GATS Schedule contains specific commi tments in three areas:  banking, money-
lending, and money transfer services;  hotel and restaurant;  and recreational and sporting services. 
Angola maintains MFN exemptions in the areas of coastal and long-distance shipping.77  
103. Angola is committed under the GATS to maintain  no limitations on cross-border supply or 
commercial presence (Modes 1 and 3) for banking and other financial services, and no limitations on 
national treatment.  Banks and foreign financial institu tions in Angola may operate  as long as they abide 
by Angola's relevant regulations.  However, under  Angola's Mode 4 (presenc e of natural persons) 
commitments, at least half of the personnel of subsidiaries, branch offices, and agencies of foreign 
financial institutions must be Angolan citizens.  Under Modes 1 and 2, residents may request loans 
abroad following authorization by the National Bank of Angola.  In the area of money transfer services, 
branches of foreign institutions accountable for money transfer orders may maintain commercial 
presence in Angola. 
104. Angola has also bound a commitment to maintain no  restrictions in Mode s 1, 2 and 3 on hotel 
and restaurant services.  Mode 4 remains unbound, except for measures affecting directors (restaurants 
only), senior managers, and specialists with knowl edge essential for the provision of the service. 
105. In recreational and sporting services, Angol a has bound a commitment to maintain no 
limitations in Modes 1, 2, and 4.  The only qua lification to the "no limitation" clause in Mode 3 
(commercial presence) is that foreign individual s or corporate bodies must obey the laws on the 
purchase of land.  
106. Angola maintains MFN exemptions in relation to coastal shipping, for reasons of "present or 
future laws, decrees and regulations based on bilate ral or multilateral agreements on coastal shipping 
and liner trade rights granted to trade partners";  the Government stated that this is necessary to 
stimulate international trade and promote regional economic integration.  Angola similarly maintains 
an MFN exemption on long-distance shipping, on grounds of "laws, decrees and regulations based on bilateral and/or multilateral agreements; resolutions  of the MCWCF (Ministerial Conference of the 
West and Central African States on Maritime Transport)
78, adopted to implement specific provisions 
of the United Nations Code of Conduct for Liner Conferences providing for the sharing of cargo 40/40/20".  The Government stated that this is necessary to:  guarantee 40% of regular traffic to 
national shipowners;  promote the development of th e national fleet;  ensure that exports are more 
competitive and decrease the cost of imports;  prom ote auxiliary maritime and port services;  and 
promote the development of new installations.
79 
(iii) Financial services 
(a) Banking  
107. The banking system in Angola is governed by  two principal laws:  the National Bank of 
Angola Law80, which establishes the BNA as the central bank and the supervisory body, and the Law 
on Credit Institutions and Financial Comp anies (Law on Financial Institutions)81, which defines the 
types of financial institutions authorized to op erate in Angola and their relationship with the 
                                                      
77 WTO documents GATS/SC/115 and GATS/EL/115, 30 August 1995. 
78 In French, CMEAOC. 
79 GATS/EL/115 of 30 August 1995. 
80 Law No. 6/97 of 11 June 1997. 
81 Law No. 1/99 of 23 April 1999. WT/TPR/S/158 Trade Policy Review 
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supervisory body.  Article 16 of the BNA Law specifies that one of the functions of the BNA, as the 
central bank, is to watch over the stability of the financial system.  Article 21 also states that it is the BNA's responsibility to supervise the financial viability and liquidity of financial institutions 
domiciled in Angola. 
108. The Directorate of Banking Supervision in the BNA has the task of supervising banks and 
other financial institutions to guarantee the stabilit y of the system and the security of deposits and 
depositors, and to protect the interests of consumers of financial services.  
109. The BNA is responsible for supervising not only banks and other lending in stitutions, but also 
investment houses, fund management institutions, real  estate agencies, credit card companies, risk 
capital managers, and so forth.
82 
110. Under the Law on Credit Institutions and Financia l Companies, such in stitutions are obliged 
to provide information to the BNA that can allow it to verify the growth of liquidity and the solvency 
of the institutions, the risks to which they ar e exposed, their adherenc e to legal norms, their 
organization, and the efficacy of their internal controls.   
111. In general, the BNA is responsible for aut horizing the establishment of banking and credit 
institutions in Angola.  However, where over 20% of the capital of a bank or lending institution is 
held by foreign interests, authorization must be given by the Council of Ministers, on the prior advice of the BNA.
83  In assessing the viability of financial ins titutions seeking to establish in Angola, the 
BNA verifies the good faith, experience, and pr ofessional capacity of Board members for their 
potential contribution to the efficiency of the sy stem as a whole and for the confidence that deposit-
holders may have in them;  th e viability of the business plan, linked to long-term levels of 
profitability; and the existence of technical and fi nancial means for acceptable risk management and 
control.84  
112. Currently, there are 25 financial and credit ins titutions registered with the BNA:  twelve 
banks (including two State-owned in stitutions, one branch of a foreign bank and one micro-credit 
bank), nine exchange houses, and three representative offices. 
113. The banking sector has grown substantially in r ecent years.  Among nationally-owned banks, 
the Banco de Poupança e Crédito (BPC) and the Ba nco Africano de Investmentos (BAI) have the 
largest spread of branches within the country:  the BAI also has foreign participation.  As a result of 
increasing competition and experience, banking servi ces are improving.  However, the sector makes 
most of its income from service fees, largely on fo reign exchange transactions;  there is apparently a 
high rate of non-performing loans,  and deposits fluctuate in monthly cycles because many companies 
keep only enough money in Angolan banks to meet cash needs, thereby inhibiting banks from making 
long-term loans.85  
114. The Government has decided to establish a Deve lopment Bank oriented to long-term business 
risks.  The Angola Development Bank will specialize in formulating and administering sectoral 
development programmes, business networks, produ ctive arrangements involving small and medium-
size enterprises, innovative technologies, and pioneer  enterprises in import- substituting industries.  
The intention is for it to be one of the majo r instruments of public development policy. 
                                                      
82 BNA online information.  Available at:  http ://www.bna.ao/ptg/supervisao_enq_legal.asp.   
83 Law 1/99, Article 15. 
84 BNA online information.  Available at:  h ttp://www.bna.ao/ptg/supervisao_enq_legal.asp. 
85 USTR (2005). Angola WT/TPR/S/158 
 Page 81 
 
 
115. The BNA is in the process of adopting the reco mmendations of the Basel Committee of the  
Bank for International Settlements.  Angola is est ablishing the conditions to start implementing the 
Basle II agreement rules on bank solvency ratios and risk factors. 
(b) Micro-credit 
116. In February 2004, the International Finance Corporation (IFC) announced a US$0.7 million 
investment agreement for a 14.3% equity stake in NovoBanco Enterprise Bank of Angola, which 
provides credit and other financial services to micro and small enterprises in Angola. The other shareholders in NovoBanco are Internationale Mi cro Investitionen AG, a German private investment 
company in which IFC also has an equity stak e, the Netherlands’ Stichting DOEN, Belgium’s 
Belgische Investeringsmaatschappij voor Ontwik kelingslanden, and ChevronTexaco Sustainable 
Development Company Ltd, registered in Bermuda. 
(c) Insurance and pension funds
86 
Introduction, legislation, and supervision 
117. Until 2000, the insurance sector in Angola was a State monopoly, with only one operator, 
ENSA (Empresa Nacional de Seguros de Angola).  Between 2000 and 2003, the legislation governing 
the sector was revised to permit private (including  foreign) insurance co mpanies, agencies, and 
pension fund operators. 
118. The principal laws and regulations are: 
For insurance: 
- The General Law on Insurance Activities87, which defines the general legal 
framework for insurance and insurance ag ency operations.  The law permits the 
presence of foreign insurers in the market, as long as a domestic partner holds 30% of the capital;  and guarantees, through a "sp ecial regime of co-insurance" that any 
insurance company may operate in any field of insurance. 
- Decree No. 6/01 of 2 March 2001, on Reinsurance and Co-insurance, regulates 
reinsurance and co-insurance activities as a way of sharing risks and guaranteeing 
stability of insurers.  It also spells out the "special regime" re ferred to above, and 
establishes regimes for petroleum, diamonds , public aviation, and agriculture, and 
fixes minimum capital requirements of  US$150,000 for reinsurance agencies. 
- Four decrees from 2002 detail the conditions in insurance business. Decree No. 2/02 
regulates the general conditions, rights, a nd obligations of insurers and insuring 
parties;  Decree No. 7/02 defines infractions or offences against the legislation;  
Executive Decree No. 58/02 regulates insurance ra tes in the areas of fire, all risks, 
automobile, life, and work accidents;  and Decree No. 79-A/02 establishes accounting rules for pension funds. 
- Resolution 2/03 of the Council of Ministers sets out a restructuring plan for the 
national insurance company, ENSA. 
                                                     
 
86 Information supplied by ENSA Seguros de Angola, March 2005. 
87 Law No. 1/00 of 3 February 2000. WT/TPR/S/158 Trade Policy Review 
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- Decree No. 5/03, of 24 January 2003, estab lishes the insurance guarantees that can be 
offered by companies and the conditions for suspension or cancellation of these 
guarantees.  It also lays down the minimum capital requirements for life and non-life insurers. 
- Executive Decree No. 6/03 of 24 January 2003 establishes rules for financial 
guarantees for insurance companies. 
- Executive Decree No. 7/03 of 24 January 2003 lays down rules, including financial 
rule, for insurance brokers. 
- Circular No. 1/ISS/MF/03 of 26 March 2003 lays down information requirements for 
insurance companies and pension funds. 
- Decree No 96/04 of 17 December 2004 creates the Fund for Updating and 
Regularizing Insurance, which supervises the financial provisions of insurance 
companies and verifies the valuation of in surance companies' assets and liabilities.  
For pension funds: 
- Decree No. 25/98 of 7 August 1998 approves the creation of pension funds as a 
complement to the social insurance system. 
- Despatch No. 9/03 of 21 February 2003 establishes rules for solvency margins and 
information requirements for pension funds;  the solvency requirements are the same 
as those for insurance comp anies under Decree 6/03.   
- Executive Decree No. 16/03 of 21 February 2003 establishes rules for setting up 
pension fund management schemes. 
119. The Institute for Supervision of Insurance ( Instituto de Supervisão de Seguros ) is an 
autonomous public body established within the Ministry of Finance.
88  Its task is to establish 
conditions for the creation and management of insu rance and reinsurance comp anies; to inspect and 
verify enterprises in the sector; and to report to the Ministry.  It can also recommend that the Ministry 
call meetings of the National Insuran ce Council (Conselho Nacional de Seguros). 
120. Currently, there are four insu rance companies operating in Angola:  ENSA Sarl, the State-
owned insurance company, which was transformed in to a public limited company under Law 1/00.  In 
2003, the company was incorporated into the EN SA Investment and Shareholding Group, EP under a 
restructuring plan agreed by the Council of Ministers (Resolution No. 2/03 of 18 February 2003);  AAA Seguros Sarl, a subsidiary of the Sonangol  Group, which was transformed into a private 
company under Law 1/00 and whose activities are authorized under Decree 6/01
89;  A Nova 
Sociedade de Seguros de Angola, SA, (NOSSA Seguros) with capital shared between the Banco 
Africano de Investimentos, the Portuguese company Real Seguros, and the Wo rld Bank's International 
Finance Corporation90;  and GA Seguros, a subsidiary of the South African Global Alliance group.91 
                                                      
88 Article 32 of the Law establishing the Ministry of Finance. 
89 Information received from Angolan authorities.   
90 Chamber of Commerce and Industry of Angola onlin e information.  Available at:  http://www.ccia. 
ebonet.net/noticia_real_seguros.htm;  and International Finance Corporation online information.  Available at:   Angola WT/TPR/S/158 
 Page 83 
 
 
121. In addition, there are a considerable numbe r of insurance agencies and fund management 
companies operating in Angola.92 
(d) International assistance to the financial sector 
122. Since 1998, the World Bank has been providing assistance to Angola through a Financial 
Institutions Modernization Programme (FINSEC) co mprising two main elements:  the strengthening 
of central bank operations, including the strengthening of internal controls and the settlement of large 
quasi-fiscal payments;  and the introduction of a new Angolan Payments System (APS).   
123. The APS was aimed at establishing, by 2003, a safe and efficient domestic payment system, 
adequately designed for cross border links. Four specific objectives were articulated: implementation 
of the technical and technological infrastructure that would meet current domestic needs with the 
flexibility to expand without jeopardizing safety and efficiency;  adoption of adequate risk control 
measures, settlement mechanisms, and processes to allow cross-border links with other settlement 
systems, namely with SADC countries; provision of services and payment instruments adapted to important sectors of the Angolan economy, with an incentive to use electronic funds transfer from the 
payer; and provision of simple payment services to all, even in less economically attractive regions.
93 
(iv) Post and telecommunications 
(a) Postal services 
124. The basis for postal services in Angola is fr amed in the Law on Postal Services of 200194, 
Decree No. 76/02 regulating postal ac tivity, and Joint Despatch 11/04 regulating fees and charges for 
private operators.  These regulations also provide th e basic framework for postal reform in Angola.  
Empresa Nacional de Correios e Telégrafos de Angol a (ENCTA) is the public enterprise responsible 
for postal services. 
125. The Government approved a Directive Plan in 20 04 with the aim of promoting reform of the 
postal service in a sustainable manner.95  The reform seeks to diversify the supply of services, 
focusing on the introduction of financial and inte rnet services, and to recover market share in 
traditional segments of correspondence and postal orders.  The plan aims to construct or restore some 
160 post offices in all provinces by 2012;  some US$24 m illion is to be invested in the period to 2012. 
126. The Plan has three levels: political, including  coordination between the MPT (Ministry of 
Posts and Telecommunications), regulatory agencies,  and operators;  regulatory;  and operational, 
including the role of public operators, pr ivate operators, and technical cooperation.  
127. The reform programme for the postal sector is based on the premises that:  regulation of the 
postal service should be carried out by the au tonomous Angolan Institute of Communications 
(INACOM) instead of, at present, by the Ministry of Posts and Telecommunications;  there should be only one public operator in the reserved area, covering the whole country, which may enter into 
partnership with the private sector in service are as where competition is permitted;  ENCTA should be 
                                                                                                                                                                    
 
http://www.ifc.org /ifcext/spiwebsite1.nsf/2bc3 4f011b50ff6e85256a 550073ff1c/bd 160adb1c8d5 c7685256eae007
53079?OpenDocument.  
91 GA Seguros online information.  Availabl e at:  http://www.globalalliance.co.za/Angola/. 
92 Information received from the authorities. 
93 World Bank (2003). 
94 Law No. 4/01 of 23 March 2001. 
95 Resolution No. 30/04. WT/TPR/S/158 Trade Policy Review 
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reorganized and restructured to facilitate its ec onomic sustainability;  services should be increasingly 
opened  (partially or wholly) to private competiti on;  and the best management practices should be 
introduced through cooperation and technical assistance.96 
(b) Telecommunications 
128. As in many other areas, the civil war led to the destruction of Angola’s telecommunications 
infrastructure.  In recent years, the growth of m obile telephony has far outstri pped the fixed network.  
Fixed line teledensity is still very low at 0.63 lin es per 100 people in 2004, while mobile use grew 
from 0.1 per 100 in 1999 to 4.7 per 100 in 2004.97  There were 96,067 land lines in use in 2004, up 
from 64,900 in 2000, and 712,000 cellular lines, up from 20,000.  
129. It is reported that:  "the te lephone network is mainly limited to government and business use; 
the cellular telephone system is over-subscribed and often cannot be accessed during business hours; 
and many large international companies have instal led high frequency trunking systems to minimise 
use of the domestic telephone system".98 
130. Angola has five companies providing landline service99, two providing mobile service100, one 
domestic company that provides data service, and va rious internet service providers.  Angola Telecom 
is the licence holder for landline telecommunica tions in Angola. The company operates the 
international 28 kbps link as well as a 64 kbps link connection via Global One in the United States. 
The services provided include data lines, packet swit ching, leased lines, cellular mobile, and internet 
facilities.101 
131. The main legislation governing telecommunica tions is the Basic Law on Telecommunications 
(Law 8/01 of 11 May 2001).  The Law provides fo r a "basic telecommunications service" guaranteed 
by the State in the form of a nationwide fixed telephony service, and a unive rsal service obligation 
regulated by the Telecommunications Department through the "General Plan for Universal Access".102 
The Law also establishes a Univ ersal Service Fund financed by public network carriers and 
telecommunication service providers for public use. 
132. Public telecommunications licence holders must be legally incorporated in Angola, have 
adequate technical capacity and qualified staff, have a capital of at least 25% of the proposed 
investment, and be free of debt to the State.  An y telecommunications carrier may hold a stake of up 
to 10% in the equity of another providing the same  service.  Foreign investors' stakes are limited to 
minority shareholdings.103 
133. According to the authorities, other relevant legi slation includes the Privatization Law (10/94), 
the Law on delimitation of sectors of economic activity (05/02), the Law for the basis of private investment (11/03), the Law on fiscal and customs incentives for private investment (17/03), the Law 
on consumer protection (15/03), the Decree on access and exercise of activity of public 
telecommunication services (44/02), the Decree on public telecommunications services (45/02), the 
                                                     
 
96 Resolution No. 30/04. 
97 Ministry of Posts and Telecommunications – INACOM (2005):  "Structure of the Sector, 
Legislation, Rights and Obligations of Users, Public Service Statistics", Luanda. 
98 SADC Review (2005). 
99 Angola Telecom, Mercury, Ne xus, Mundo Startel and Wezacom. 
100 Movicel and Unitel. 
101 SADC Review (2005). 
102 Law 8/01, Article 14. 
103 Law 8/01, Articles 17 and 18. Angola WT/TPR/S/158 
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Decree on the National Frequencies Plan (10/03), the Decree on public service prices (03/04) and the 
General Decree on interconnection (13/04). 
134. Sectoral objectives were set out in the White  Paper on Telecommunications Policy.  This 
sought to define how to promote participation from different stakeholders in the sector;  create a 
framework for State intervention; establish a struct ure for regulation of service operators and a legal 
framework to encourage private investment;  and spell out ways and means to create and develop 
human capacity and national technology. 
135. The White Paper laid down that the State shoul d formulate, guide, and promote policies and 
regulatory activities in all telecommunications ar eas, and that the Ministry of Posts and 
Telecommunications is competent for all national telecommunications activity and studies for the 
establishment of policies linked to the sector.  Th e Government would strengthen the role of the 
Angolan Institute of Communication (AIC), which w ould act as regulatory body, be responsible for 
ensuring the application of the legislation, protecti ng consumer interests, arbitrating disputes between 
operators, and conducting studies on the estab lishment of technical regulations.  
136. The State retains majority ownership of Angol a Telecom. In the short term, Angola Telecom 
is to be changed into a commercial company with pu blic capital.  After the stabilization of the market, 
the State would gradually privatize Angola Telecom, retaining a "golden share".  
137. Private investment in telecommunications, whethe r foreign or national, should serve primarily 
to expand and harmonize telecommunications infrastru cture over the whole national territory and not 
just take advantage of privatization of existing oper ators.  The Government would continue to license 
private operators in public telecommunications services, aiming to complement State activities.  To guarantee competition, at least two operato rs would be permitted in each sector.
104 
138. Import duty is levied at 10% on telephones, and 5% on other telecommuni cations equipment.  
Angola is not a signatory to the WTO's Inform ation Technology Agreement, which provides for 
elimination of all duties on IT-related goods. 
(v) Transport 
139. As in other areas of the economy, Angola's tran sport infrastructure was virtually destroyed by 
the prolonged civil war.  Steps are being taken to m odernize ports;  restore international rail links with 
Zambia for Lobito via the Benguela  railway;  restore the northern railway from Luanda, with Chinese 
assistance;  and establish improved road and rail links to Namibia. 
(a) Maritime transport legislation 
140. New comprehensive legislation is in draft under the proposed Law on Merchant Shipping, 
Ports and Related Services. 
141. Angola is a member of the International Mariti me Organization;  its membership dated from 
1977. 
Port services105 
142. Angola has four main ports: Luanda, Lobito, Ma longo, and Namibe.  Plans to construct roll-
on/roll-off container terminals at Luanda and L obito have been developed but have not been 
                                                      
104 Republic of Angola (2001). 
105 OTAL online information.  Available at:  http://www.otal.com/angola/index.htm#luanda. WT/TPR/S/158 Trade Policy Review 
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implemented.  There are two terminals at Luanda port;  Unicargas (container and general cargo) and 
Multiterminals, for general cargo. 
143. Angola introduced the International Ship and Port Facility Security (ISPS) code of the 
International Maritime Organization (IMO) on 1 July 2004.106  The authorities have appointed the 
National Directorate of the Merchant Navy to be in  charge of reinforcing security at Angolan ports. 
144. On 1 September 2004, Angola introduced fixed tariffs and compulsory inspections on vessels 
calling at all its ports.  The measure followed the creation of a new directorate with responsibilities 
focusing on meeting international ship safety and s ecurity.  The fees depend on the type of vessel, 
with LNG carriers facing the highest fees at US$760. 
145. In 2003, it was reported that the port of Luanda was to undergo a major extension 
programme. Approach channels a nd harbour would be dredged, a nd Sonils LDA, a joint venture 
between Sonangol, the Angolan state oil company and Integrated Logistics Service UK, would provide additional warehousing and storage at the port.   A new port quay would be constructed, with  
a draft of 10.5 m., and reclaimed material would be  pumped ashore to double the area of the existing 
yard.
107  
146. In 2004, it was reported that APM Terminals ha d won a 20-year concession to operate one of 
the major container terminals in Luanda, in Angola's first port privatization.  Under the terms of the 
tender, the port, which handled 195,000 TEU (twe nty-feet equivalent units) in 2002, will be 
developed to handle about  300,000 TEU annually.  The port will be developed in two phases:  the 
first, lasting two years, will concentrate on the quay and stacking area;  the second will focus on improving handling equipment.
108 
Shipping 
147. Maritime traffic rights to and from Angola are regulated by Council of Ministers 
Decree No. 19/94 of 20 May 1994, and Joint Execu tive Decree No. 68/95 of the Ministries of 
Economy and Finance and of Transport and Communications. 
148. Cargo to or from Angola must be shared be tween national and international ship-owners on 
the basis of the 40-40-20 principle set out in th e UNCTAD Convention on Liner Conferences (Geneva 
Convention of 1974 regardi ng the Code of Conduct of Maritime Conferences). 
149. Shipowners, importers, and exporte rs with an interest in shipping to or from Angola must 
register with the National Council of Carriers by 31 January of each year.  They must communicate that they are carrying cargo to or from Angola to the National Council of Carriers or to its representatives abroad at least ten days  in advance for cargo-sharing purposes. 
150. The National Council of Carriers may allocate cargo among various shipowners, taking into 
account freight quantity and quality forecasts;  technical and commercial information and 
                                                     
 
106 The ISPS Code enables the detection and deterren ce of security threats within an international 
framework, establishes roles and responsibilities, enable s collection and exchange of security information, 
provides a methodology for assessing se curity, and ensures that adequate s ecurity measures are in place.  It 
requires ship and port facility staff to gather and asse ss information, maintain communication protocols, restrict 
access, prevent the introduction of unau thorized weapons, etc., provide the means to raise alarms, put in place 
vessel and port security plans, and ensure training and drills are conducted (Lloyd's Register online information 
"What is the ISPS Code?" Available at:  http://www.l r.org/market_sector/marine /maritime-security/what_is_ 
ISPS_code.htm).  
107 OTAL online information . 
108 OTAL online information. Angola WT/TPR/S/158 
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documentation regarding the shipow ners, importers and e xporters;  and the monthly programmes of 
ship rotation presented by shipowners.  
151. If national shipowners are not in a position to carry a cargo, the National Council of Carriers 
may authorize it to be granted to foreign shipowners  that are parties to maritime conferences based on 
good-faith agreements or to third-party shi powners that grant advantageous conditions. 
152. The National Council of Carriers or its represen tative abroad issues embarkation certificates 
for goods reserved for national shi powners, and exemption orders granting carriage rights to foreign 
shipowners.  Customs services may not unload any good without an embarkation certificate or 
exemption order. 
153. Freight charges applicable in Angola are nego tiated by the National Council of Carriers and 
approved by the Union of Councils of African Carriers with the representatives of maritime conferences and foreign shipowners.  
154. All shipowners that ship goods to or from Angola must, in principle, pay a commission to the 
National Council of Carriers.  This commission is fixed at US$0.05 per tonne of liquid cargo, 
US$5.00 per tonne of dry cargo in bulk or in bags , US$100 per 20-foot container, and US$200 per 40-
foot container.  Goods in transit are excluded from this obligation.
109  According to the authorities, 
this charge is not currently applied on import shipments. 
155. Joint Executive Decree No. 68/95 lays down penalties (fines) for non-observance of the 
provisions of Decree 19/94. 
(b) Air transportation 
156. Angola's civil aviation is governed by the Law on Civil Aviation (Law 3/00 of 20 April 
2000).  A draft regulation for domestic ai r transport is in the pipeline.  
157. International flights must land at an internationa l airport.  Regular inte rnational flights to and 
from Angola are subject to bilatera l or international agreements.110 
158. Two international airlines are registered  in Angola:  TAAG, the national State-owned carrier, 
with domestic scheduled services from Luanda and inte rnational scheduled flights to Harare, Lisbon, 
Johannesburg, London, Rio de Janeiro, São Tomé and Windhoek;  and Sonair, a subsidiary of 
SONANGOL, operated by the U.S. company World Ai rways, which offers only one international 
route, to Houston, Texas, for member comp anies of the U.S.-Africa Energy Association.111  TAAG is 
Angola's only member of IATA. 
 
 
                                                      
109 Joint Executive Decree 68/95, Article 10.  
110 Law 3/00, Article 30. 
111 Afrol News , 31 July 2004, "Luanda, Malabo strengthen link with US oil capital".  Available at:  
http://www.afrol.com/articles/10288) , and http//www.sonairsarl.com/.  WT/TPR/S/158 Trade Policy Review 
Page 88 
 
 
(c) Rail and road transportation 
159. Steps are being taken by the authorities to reha bilitate and restore international rail and road 
links between Angola and its neighbou rs  Under a bilateral oil-finan ce agreement, China is involved 
in the restoration of the northern railway rout e from Luanda.  In March 2005, Angola and Zambia 
concluded an agreement, under SADC auspices, to  rebuild the Benguela railway linking with the port 
of Lobito.112  Road and rail connections with Namibia ar e also being rehabilitated.  Such projects, 
when completed, will promote trade from, and transit through Angola. 
                                                      
112 SADC Today , June 2005, online information.  Available at http://www.sadc.int/English/sadc_today/ 
SADC%20TODAY%20June%202005.pdf. Angola WT/TPR/S/158 
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