1.   This Agreement applies to measures adopted or maintained by the Parties affecting investment.

2.   The Parties reaffirm the right to regulate within their territories to achieve legitimate policy objectives, such as the protection of public health, social services, public education, safety, the environment, including climate change, public morals, social protection, consumer protection, privacy and data protection, and the promotion and protection of cultural diversity.

3.   This Agreement does not create or modify commitments relating to the liberalisation of investments, nor does it create or modify rules on the protection of established investors in the territories of the Parties, or of their investments, or on investor-state dispute settlement.

1.   Each Party shall accord immediately and unconditionally to investors of the other Party and their investments treatment no less favourable than that it accords, in like situations, to investors of any other country and their investments, with respect to the application of this Agreement in its territory.

2.   Paragraph 1 shall not be construed as obliging a Party to extend to investors of the other Party or their investments the benefit of any treatment resulting from:

3.   For greater certainty, provisions included in other international agreements concluded by a Party do not in themselves constitute "treatment" as referred to in paragraph 1 and thus cannot be taken into account when assessing a breach of this Agreement.

1.   The Parties recognise the negative impact of corruption, money laundering, terrorism financing, tax fraud and tax evasion on economies and societies, including the impeding of sustainable development and discouraging of investment.

2.   Each Party confirms its commitment to take adequate measures to prevent and fight corruption, money laundering, terrorism financing, tax fraud and tax evasion, with regard to matters covered by this Agreement, in accordance with internationally agreed standards that have been endorsed or are supported by that Party, such as the United Nations Convention against Corruption adopted by the United Nations General Assembly on 31 October 2003 and the Organisation for Economic Co-operation and Development (hereinafter referred to as "OECD") Guidelines for Multinational Enterprises of 2011, as well as the current standards in the field of international taxation.

1.   To the extent practicable and in a manner consistent with its legal system for adopting measures, each Party (4) shall publish in advance:

2.   To the extent practicable and in a manner consistent with its legal system for adopting measures, each Party is encouraged to apply paragraph 1 to procedures and administrative rulings of general application it proposes to adopt in relation to matters falling within the scope of this Agreement.

3.   To the extent practicable and in a manner consistent with its legal system for adopting measures, each Party shall provide investors and other interested persons, on a non-discriminatory basis, a reasonable opportunity to comment on proposed measures or documents published pursuant to paragraph 1 or 2.

4.   To the extent practicable and in a manner consistent with its legal system for adopting measures, each Party shall consider comments received pursuant to paragraph 3 (5).

5.   In publishing a law or regulation of general application referred to in paragraph 1, or in advance of such publication, to the extent practicable and in a manner consistent with its legal system for adopting measures, each Party shall endeavour to explain the purposes and rationale of that law or regulation.

6.   Each Party, to the extent practicable, shall endeavour to allow a reasonable time between the publication of a law or regulation referred to in paragraph 1 and the date of its application to investors.

1.   Each Party shall make available via electronic means such as a website and, where practicable, accessible through a single portal, and update to the extent possible and as appropriate, the following:

2.   Each Party shall make available, where practicable via electronic means such as a website and accessible through the single portal referred to in paragraph 1, and update to the extent possible and as appropriate, a description that informs investors and other interested persons of the practical steps needed to invest in its territory including the requirements and procedures related to:

3.   No fee shall be imposed on any investor in a Party's territory for access to the information provided under this Article or under Article 7.

1.   Each Party shall make available via electronic means such as a website and, where practicable, accessible through a single portal, and update to the extent possible and as appropriate, information on investment incentives.

2.   The information referred to in paragraph 1 shall cover all the incentives available to investors, including financial incentives, fiscal incentives and in-kind transfers, including non-financial incentives.

3.   The information referred to in paragraph 1 shall include the following elements:

1.   If a Party requires authorisation, it shall ensure that its competent authorities:

2.   Each Party shall ensure that its competent authorities grant an authorisation as soon as it is established, in light of an appropriate examination, that the applicant meets the conditions for obtaining it.

3.   Each Party shall ensure that authorisation, once granted, enters into effect without undue delay, subject to the applicable terms and conditions (9).

1.   For all economic activities other than financial services, each Party shall ensure that the authorisation fees charged by its competent authorities are reasonable and transparent and do not in themselves restrict the investment.

2.   With regard to financial services, each Party shall ensure that its competent authorities, with respect to the authorisation fees they charge, provide applicants with a schedule of fees or information on how fee amounts are determined, and do not use the fees as a means of avoiding the Party's commitments or obligations.

3.   Authorisation fees do not include fees for the use of natural resources, payments for auction, tendering or other non-discriminatory means of awarding concessions or mandated contributions to universal service provision.

4.   Except in urgent circumstances, each Party shall allow adequate time between the publication and the entry into force of new or amended fees and charges related to authorisation procedures for investment, or between the publication of information enabling investors to understand the calculation of those fees and charges and their entry into force. Those fees and charges shall not be applied until that information has been published.

5.   Each Party shall, to the extent practicable, adopt or maintain procedures allowing the option of electronic payment for fees and charges collected by relevant competent authorities for the authorisation of investments.

1.   If a Party requires authorisation, it shall promptly publish the information necessary for investors or persons seeking to invest to comply with the requirements, technical standards and procedures for obtaining, maintaining, amending or renewing that authorisation (10). That information shall include, to the extent that it exists:

2.   Each Party is encouraged to consolidate electronic publications into a single portal.

1.   In a manner consistent with its legal system, each Party shall maintain or establish appropriate investment facilitation focal points to serve as first points of contact for investors regarding measures affecting investment.

2.   Each Party shall ensure that investment facilitation focal points respond to inquiries from investors as well as from investment facilitation focal points established by the other Party under this Article in order to contribute to the effective application of this Agreement.

3.   If an investment facilitation focal point is unable to respond to an enquiry under paragraph 2, it shall endeavour to provide the necessary assistance to the inquirer to obtain the relevant information.

4.   Each Party shall ensure that inquiries and information under this Article can be submitted via electronic means.

5.   Information provided under this Article shall be without prejudice as to whether the measure is consistent with this Agreement.

1.   Each Party shall endeavour to establish or maintain appropriate mechanisms to resolve problems for investors or persons seeking to invest that may arise from the application of any measure of general application covered by this Agreement.

2.   The mechanisms referred to in paragraph 1 shall be easily accessible, including for MSMEs, time-bound and transparent. They shall be without prejudice to any appeal or review procedures which the Parties establish or maintain or to the dispute settlement mechanism established pursuant to Chapter VI of this Agreement.

1.   The Parties recognise the importance of close domestic coordination of the authorities and agencies responsible for the regulation and implementation of measures and procedures related to investment as a means to facilitate, attract, retain and expand investment.

2.   Each Party shall endeavour to establish or maintain mechanisms to coordinate activities with the aim of:

3.   To facilitate the task of coordination, each Party is encouraged to designate a lead agency in a manner consistent with its legal system.

1.   The Parties recognise the importance of an effective, consistent, transparent and predictable regulatory framework for investment.

2.   Each Party is encouraged to carry out, in accordance with its respective rules and procedures, an impact assessment of major (11) measures of general application it is preparing that fall within the scope of this Agreement.

3.   The Parties acknowledge that, when conducting the impact assessments referred to in paragraph 2, the potential impact of proposed measures on MSMEs and on sustainable development should be taken into account.

1.   Each Party is encouraged to review, at intervals it deems appropriate, its measures of general application covered by this Agreement affecting investment in order to determine whether specific measures it has implemented should be modified, streamlined, expanded or repealed, so as to make the Party's investment framework more effective in achieving its policy objectives and in addressing the specific needs of MSMEs.

2.   Each Party is encouraged to periodically review its authorisation fees and charges with a view to reducing their number and diversity.

3.   Each Party is encouraged, in its review exercises, to consider stakeholder feedback and make use of relevant international performance indicators.

4.   The Parties are invited to share in the Committee on Investment Facilitation referred to in Article 43 their experiences in carrying out periodic reviews and policy recommendations resulting therefrom.

1.   The Parties recognise that sustainable development encompasses economic development, social development and environmental protection, all three being interdependent and mutually reinforcing, and affirm their commitment to facilitate investment in a way that contributes to the objective of sustainable development.

2.   The objective of this Chapter is to enhance the integration of sustainable development, notably in its labour and environmental dimensions, in the Parties' investment relationship in a manner that contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.

1.   The Parties recognise the right of each Party to determine its sustainable development policies and priorities, to establish the levels of domestic environmental and labour protection it deems appropriate and to adopt or modify its relevant laws and policies. Such protection levels, laws and policies shall be consistent with each Party's commitments to the internationally recognised standards and agreements referred to in this Chapter.

2.   Each Party shall strive to ensure that its relevant laws and policies provide for, and encourage, high levels of environmental and labour protection, and shall strive to improve such levels, laws and policies.

3.   A Party shall not weaken or reduce the levels of protection afforded in its environmental or labour laws in order to encourage investment.

4.   A Party shall not waive or otherwise derogate from, or offer to waive or otherwise derogate from, its environmental or labour laws in order to encourage investment.

5.   A Party shall not, through a sustained or recurring course of action or inaction, fail to effectively enforce its environmental or labour laws in order to encourage investment.

6.   The Parties shall not use their respective environmental or labour laws in a manner which would constitute a means of arbitrary or unjustifiable discrimination or a disguised restriction on international investment.

1.   The Parties affirm their commitment to promote the development of investment in a way that is conducive to decent work for all, as expressed in the International Labour Organisation (hereinafter referred to as "ILO") Declaration on Social Justice for a Fair Globalization, adopted at Geneva on 10 June 2008 by the International Labour Conference (hereinafter referred to as the "2008 ILO Declaration on Social Justice for a Fair Globalization").

2.   In accordance with the ILO Constitution and the ILO Declaration on Fundamental Principles and Rights at Work and its Follow-up, adopted at Geneva on 18 June 1998 by the International Labour Conference, each Party shall respect, promote and effectively implement throughout its territory, including in "export processing zones" and other "special economic zones", the internationally recognised core labour standards as defined in the fundamental ILO Conventions, and effectively implement further ILO Conventions that the Member States of the Union and Angola have respectively ratified.

3.   In accordance with their commitment to enhance the contribution of investment to the goal of sustainable development, including its labour aspects, each Party shall promote investment policies which advance the objectives of the Decent Work Agenda, in accordance with the 2008 ILO Declaration on Social Justice for a Fair Globalisation, and the ILO Centenary Declaration for the Future of Work, adopted at Geneva on 21 June 2019 by the International Labour Conference.

4.   Each Party shall establish, if it has not yet done so, and maintain an effective labour inspection system for all economic sectors, including for agriculture and mining activities.

5.   The Parties shall work together to strengthen their cooperation on investment-related aspects of labour policies and measures, bilaterally, regionally and in international fora, including in the ILO, as appropriate.

1.   The Parties recognise the importance of the United Nations Environment Assembly (hereinafter referred to as "UNEA") of the United Nations Environment Programme (hereinafter referred to as "UNEP") and multilateral environmental governance and agreements as a response of the international community to global or regional environmental challenges and stress the need to enhance the mutual supportiveness between investment and environment policies.

2.   Each Party shall effectively implement the multilateral environmental agreements, protocols and amendments that it has ratified (hereinafter referred to as "MEAs"). The Parties affirm their commitment to promote the development of investment in a way that is conducive to a high level of environmental protection.

3.   The Parties shall work together to strengthen their cooperation on investment-related aspects of environmental policies and measures, bilaterally, regionally and in international fora, as appropriate, including in the United Nations High-level Political Forum for Sustainable Development, UNEP, UNEA, MEAs, or the World Trade Organisation (hereinafter referred to as "WTO").

1.   The Parties recognise the importance of taking urgent action to combat climate change and its impacts, and the role of investment in pursuing that objective, in line with the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992 (hereinafter referred to as "UNFCCC"), the purposes and goals of the Paris Agreement under the United Nations Framework Convention on Climate Change, done at Paris on 12 December 2015 (hereinafter referred to as "Paris Agreement"), and with other MEAs and multilateral instruments in the area of climate change.

2.   Each Party shall:

3.   The Parties shall work together to strengthen their cooperation on investment-related aspects of climate change policies and measures bilaterally, regionally and in international fora, as appropriate, including in the UNFCCC, the WTO, the Montreal Protocol on Substances that Deplete the Ozone Layer, done at Montreal on 16 September 1987, and the International Maritime Organization.

1.   In accordance with their commitment to enhance the contribution of investment to the goal of sustainable development, the Parties shall facilitate and encourage investment in sustainable production and consumption, in environmental goods and services, and investment of relevance for climate change mitigation and adaptation.

2.   The Parties recognise the importance of conserving and sustainably using biological diversity and the role of investment in pursuing these objectives, consistent with the Convention on Biological Diversity, done at Rio de Janeiro on 5 June 1992 (hereinafter referred to as "CBD") and its protocols, the Convention on International Trade in Endangered Species of Wild Fauna and Flora, done at Washington D.C. on 3 March 1973 (hereinafter referred to as "CITES"), other relevant MEAs to which they are a party, and the decisions adopted thereunder.

3.   Each Party shall facilitate investment for the sustainable use of biological resources and the conservation of biodiversity, and take measures to conserve biological diversity when it is subject to pressures linked to investment.

4.   The Parties shall work together to strengthen their cooperation on investment-related aspects of biodiversity policies and measures bilaterally, regionally and in international fora, as appropriate, including in the CBD and CITES.

5.   The Parties recognise the importance of sustainable forest management and the role of investment in pursuing this objective. Accordingly, each Party shall facilitate investment in a way that is consistent with the conservation and sustainable management of forests.

6.   The Parties recognise the importance of conserving and sustainably managing marine biological resources and marine ecosystems and the role of investment in pursuing these objectives. Accordingly, each Party shall facilitate investment in a way that is consistent with conservation and sustainable management of marine biological resources and marine ecosystems.

1.   The Parties recognise the importance of investors implementing due diligence in order to identify and address adverse impacts, such as on the environment and labour conditions, in their operations, their supply chains and other business relationships.

2.   The Parties shall promote the uptake by enterprises and investors of corporate social responsibility or responsible business practices with a view to contributing to sustainable development and responsible investment.

3.   The Parties shall support the dissemination and use of relevant internationally agreed instruments that have been endorsed or are supported by them, such as the United Nations Guiding Principles on Business and Human Rights, the United Nations Global Compact, the ILO Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy and the OECD Guidelines for Multinational Enterprises of 2011 and related due diligence guidance.

4.   The Parties shall exchange information as well as best practices on issues covered by this Article, including on possible ways to facilitate the uptake by enterprises and investors of corporate social responsibility, responsible practices and reporting, in the Committee on Investment Facilitation. To that end, the Committee shall maintain close contact with relevant international organisations active in the field of corporate social responsibility or responsible business conduct.

1.   The Parties recognise that inclusive investment policies can contribute to advancing women's economic empowerment and gender equality, in line with Sustainable Development Goal 5 of the UN 2030 Agenda. They acknowledge the important contribution by women to economic growth through their participation in economic activity, including investment. The Parties underline their intention to implement this Agreement in a manner that promotes and enhances gender equality.

2.   The Parties shall work together bilaterally and in relevant fora, as appropriate, to strengthen their cooperation on investment-related aspects of gender equality policies and measures, including activities designed to improve the capacity and conditions for women, including workers, businesswomen and entrepreneurs, to access and benefit from the opportunities created by this Agreement.

1.   The Parties shall endeavour to resolve any dispute between them concerning the interpretation and application of this Agreement, except as otherwise provided for in this Agreement, by entering into consultations in good faith with the aim of reaching a mutually agreed solution.

2.   A Party shall seek consultations by means of a written request delivered to the other Party identifying the measures at issue and the obligations under this Agreement that it considers the other Party to have failed to fulfil.

3.   The Party to which the request for consultations is made shall reply to the request within 10 days after the date of its delivery.

Unless the Parties agree otherwise, consultations shall be held no later than 30 days after the date of delivery of the request and take place in the territory of the Party to which the request is made.

4.   During consultations, each Party shall provide sufficient factual information so as to allow a complete examination of the manner in which the measure at issue could breach the relevant obligations under this Agreement.

Each Party shall endeavour to ensure the participation of personnel of its competent governmental authorities who have expertise in the matter subject to the consultations.

5.   As part of consultations on matters related to the multilateral environmental or labour agreements or instruments referred to in this Agreement, the Parties shall take into account information from the ILO or relevant bodies or organisations established under multilateral environmental agreements in order to promote coherence between the work of the Parties and those bodies or organisations. Where relevant, the Parties shall seek advice from those bodies or organisations, or any other expert or body they deem appropriate.

6.   Each Party may seek, if appropriate, the view of civil society as referred to under Article 46.

7.   Consultations, and in particular all information disclosed and positions taken by the Parties during consultations, shall be confidential.

1.   The Parties may reach a mutually agreed solution at any time with respect to any dispute referred to in Article 36.

2.   Each Party shall adopt the measures necessary to implement the mutually agreed solution. If immediate implementation is not possible, the Parties shall agree on a reasonable time period for implementation.

3.   No later than on the expiry of the agreed time period referred to in paragraph 2, the implementing Party shall inform the other Party, in writing, of any measure that it has adopted to implement the mutually agreed solution.

4.   If the Parties are unable to reach a mutually agreed solution within 120 days of the date of the request for consultations, or where the mutually agreed solution is not implemented within the time period referred to in paragraph 2, the Party that requested consultations under Article 36 may request to resort to State-to-State arbitration to resolve the dispute. The Party to which the request for arbitration is made shall accept or reject that request within 30 days of the date of the request. In the absence of a response, the request shall be deemed to have been rejected.

1.   The Parties shall endeavour to agree on the composition of the arbitration panel. If no such agreement has been reached within 30 days of the acceptance of the request for arbitration pursuant to Article 37(4), each Party shall appoint an arbitrator within a further 30 days.

The arbitrators appointed by the Parties shall jointly appoint the chairperson of the panel, who shall not have the nationality of either Party.

2.   The arbitration panel shall make an objective assessment of the matter before it. Unless the Parties agree otherwise, the arbitration panel shall determine the applicable rules of procedure.

3.   If the arbitration panel concludes that the measure at issue is not in conformity with the provisions of this Agreement, the Party complained against shall take any measure necessary to promptly bring itself into compliance.

4.   In case the request for arbitration was rejected by the Party to which the request for arbitration was made, or in case of non-compliance with the panel report, the Party that requested arbitration may adopt measures within the scope of this Agreement that are proportionate to the failure to fulfil the specific obligations.

1.   All time periods set out in this Chapter shall be counted in calendar days from the day following the act to which they refer, unless otherwise specified.

2.   Any time period set out in this Chapter may be modified by mutual agreement of the Parties.

1.   A Party may at any time request to enter into a mediation procedure with respect to any measure of a Party alleged to adversely affect investment between the Parties.

2.   The mediation procedure may only be initiated by mutual agreement of the Parties in order to explore mutually agreed solutions and consider any advice and proposed solutions by a mediator appointed by the Parties.

3.   The Parties shall endeavour to reach a mutually agreed solution within 60 days of the date of the appointment of the mediator.

4.   Unless the Parties agree otherwise, all steps of the mediation procedure, including any advice or proposed solution, are confidential. A Party may disclose to the public the fact that mediation is taking place.

5.   The mediation procedure is without prejudice to the Parties' rights and obligations under Articles 36 and 38 or under dispute settlement procedures under any other agreement.

1.   The Parties recognise the importance of technical assistance and capacity-building and commit to cooperate on strengthening the investment climate in Angola and supporting the implementation of this Agreement.

2.   Those activities shall be carried out within the framework of the rules and relevant procedures of the European Union development cooperation and instruments.

3.   Requests for assistance should be based on needs identified and in accordance with domestic investment facilitation reforms. Assistance shall be subject to mutually agreed terms and conditions.

4.   The Parties in the framework of the Committee on Investment Facilitation shall:

1.   In order to ensure that this Agreement operates properly and effectively, the Parties hereby establish a Committee on Investment Facilitation comprising representatives of both Parties.

2.   The Committee on Investment Facilitation shall hold its first meeting no later than six months after the date of entry into force of this Agreement. Thereafter, the Committee on Investment Facilitation shall meet on an annual basis, unless otherwise agreed by the representatives of the Parties, or without undue delay upon request of either Party.

3.   The meetings of the Committee on Investment Facilitation shall take place in the Union or Angola alternately, unless otherwise agreed by the representatives of the Parties. The Committee on Investment Facilitation may meet in person or by other appropriate means of communication, as agreed by the representatives of the Parties.

4.   The Committee on Investment Facilitation shall be co-chaired by, for Angola, the Minister of Economy and Planning and the Minister of Industry and Trade, and, for the Union, the Member of the European Commission responsible for Trade, or their respective designees.

1.   The Committee on Investment Facilitation shall:

2.   The Committee on Investment Facilitation shall adopt at its first meeting its own rules of procedure.

1.   For the purposes of attaining the objectives of this Agreement, the Committee on Investment Facilitation shall have the power to take decisions where provided for in this Agreement. Those decisions shall be binding upon the Parties. The Parties shall adopt measures necessary to implement those decisions.

2.   For the purposes of attaining the objectives of this Agreement, the Committee on investment Facilitation may make appropriate recommendations in respect of all matters covered by this Agreement.

3.   The Committee on Investment Facilitation shall take its decisions and make its recommendations by consensus.

1.   The Parties shall organise a dialogue with civil society (hereinafter referred to as the "dialogue") to discuss the implementation of this Agreement.

2.   The Parties shall promote in the dialogue a balanced representation of relevant stakeholders, including non-governmental organisations, business and employers' organisations and trade unions, active on economic, sustainable development, social, environmental and other matters.

3.   The dialogue shall take place on an annual basis, in conjunction with the meeting of the Committee on Investment Facilitation, unless otherwise agreed by the Parties.

4.   For the purposes of the dialogue, the Parties shall provide information on the implementation of this Agreement.

The views and opinions expressed during the dialogue may be submitted to the Committee on Investment Facilitation and may be made publicly available.

5.   The Parties may choose to organise the dialogue through existing mechanisms established by the Parties for involving civil society, as appropriate.

1.   Either Party may notify in writing the other Party of this Agreement of its intention to terminate this Agreement. A notification to the Union shall be sent to the Secretary-General of the Council of the European Union and a notification to Angola shall be sent to the Ministry of Foreign Affairs, National Director for International Cooperation.

2.   The termination of this Agreement shall take effect six months after the date of receipt by the other Party of the notification referred to in paragraph 1.

1.   This Agreement shall apply

2.   References to "territory" in this Agreement shall be understood in the sense referred to in paragraph 1.

3.   For greater certainty, references to international law in this Article include, in particular, the United Nations Convention on the Law of the Sea, done at Montego Bay on 10 December 1982. In case of an inconsistency between domestic law and international law, the latter shall prevail.

1.   The Union shall inform Angola of any request for accession of a third country to become a Member State of the Union.

2.   The Union shall notify Angola of the entry into force of any Treaty concerning the accession of a third country to the Union.

1.   Unless otherwise specified, where reference is made to laws and regulations of a Party, those laws and regulations shall be understood to include amendments thereto.

2.   Where international agreements are referred to or incorporated into this Agreement, in whole or in part, they shall be understood to include amendments thereto or their successor agreements entering into force for both Parties on the date of signature of this Agreement or thereafter. If any matter arises regarding the implementation or application of this Agreement as a result of such amendments or successor agreements, the Parties may, upon request of either Party, consult with each other with a view to finding a mutually satisfactory solution.

1.   This Agreement shall enter into force on the first day of the second month following the date on which the Parties exchange written notifications certifying that they have completed their respective applicable legal requirements and procedures for the entry into force of this Agreement.

2.   The written notifications referred to in paragraph 1 shall be sent to the Secretary-General of the Council of the European Union and, to the Ministry of Foreign Affairs of Angola, National Director for International Cooperation.