01/26/2024 | Press release | Distributed by Public on 01/26/2024 05:27
25.1.2024 - (10942/2023 - C9-0459/2023 - 2023/0181(NLE)) - ***
Committee on International Trade
Rapporteur: Joachim Schuster
on the draft Council decision on the conclusion, on behalf of the Union, of the Sustainable Investment Facilitation Agreement between the European Union and the Republic of Angola
(10942/2023 - C9-0459/2023 - 2023/0181(NLE))
(Consent)
The European Parliament,
- having regard to the draft Council decision (10942/2023),
- having regard to the draft Sustainable Investment Facilitation Agreement between the European Union and the Republic of Angola (10941/2023),
- having regard to the request for consent submitted by the Council in accordance with Article 207(4), first subparagraph, and Article 218(6), second subparagraph, point (a)(v), of the Treaty on the Functioning of the European Union (C9-0459/2023),
- having regard to Rule 105(1) and (4) and Rule 114(7) of its Rules of Procedure,
- having regard to the recommendation of the Committee on International Trade (A9-0005/2024),
1. Gives its consent to the conclusion of the agreement;
2. Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of the Republic of Angola.
On 23 March 2021, the Commission adopted a recommendation for a Council Decision authorising the opening of negotiations with Angola on an agreement on investment facilitation. This followed a joint statement issued by Executive Vice-President of the European Commission, Mr. Valdis Dombrovskis and Minister of Trade and Industry of Angola, Mr. Victor Fernandes, on 8 September 2020 confirming "their intention to start exploratory discussions on an EU-Angola investment agreement, on top of the EPA, focusing on investment facilitation." On 26 May 2021, the Council of the European Union authorised the opening of negotiations and adopted negotiating directives.
On 22 June 2021, the EU and Angola launched negotiations on a Sustainable Investment Facilitation Agreement ("the Agreement"). The negotiations were concluded after four rounds of negotiations on 18 November 2022.
The overall objective of the Agreement is to provide for legal certainty, improve the investment climate and facilitate the mobilisation and retention of investment between the EU and Angola on the basis of modern and simplified rules and procedures relating to foreign direct investment, benefiting both foreign and domestic companies. It promotes sustainable development, economic growth and job creation and strengthens the bilateral investment relationship. This Agreement is the first agreement on investment facilitation that the EU has negotiated.
The Agreement has four substantive chapters (II. Transparency and predictability; III: Streamlining of authorisation procedures; IV. Focal points and involvement of stakeholders; V. Investment and sustainable development). Chapter VI "Dispute avoidance and settlement", which is based on cooperation between the Parties and seeking a mutually-agreed solution, includes furthermore the possibility of State-to-State arbitration as a last resort, in addition to mediation rules.
The Agreement also integrates a sustainable development dimension in the investment relationship, including commitments not to weaken labour or environmental laws and standards for the sake of attracting investment. It includes commitments to effectively implement international labour and environmental agreements, including the Paris Agreement. The Agreement requires the Parties to promote responsible business practices by investors and strengthens bilateral cooperation on investment-related aspects of climate change policies and gender equality policies.
In accordance with Article 218(6) TFEU, the consent of the European Parliament is required in order for the Council to adopt a decision on the conclusion of the Agreement.
In the light of the above, the Rapporteur recommends the Parliament to give its consent to the conclusion of the Agreement.
Pursuant to Rule 55(4) of the Rules of Procedure
Saskia Bricmont (Verts/ALE)
Angola can certainly benefit from foreign direct investments provided that it is supported by the appropriate regulatory framework. Yet, the Sustainable Investment Facilitation Agreement (SIFA) carries a misleading name. No provision is such that it aims at fostering sustainable investment. It contains no definition of sustainable investment and does not foresee that labour or environmental authorities will take part in the governance. Although the text includes declaratory commitments to sustainable development, it lacks binding provisions in case of non-compliance. While there is an Article on the linkages with the host economy, investors are not required to demonstrate that their projects will contribute to the sustainable development of the country or to its economic diversification, In this regard, economic diversification is not to be monitored. The SIFA should be explicitly tied to the Multiannual Indicative Programme of Angola so as to support the various objectives set out in this document and agreed with Angola's authorities and stakeholders and with European partners (Member States, EIB...) in conformity with the policy coherence for development.
Since the SIFA is slated to be a blueprint for future similar agreements, it should be improved accordingly so as to genuinely contribute to economic diversification and sustainable development.
Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that he has received input from the following entities or persons in the preparation of the report, until the adoption thereof in committee:
Entity and/or person |
Investment and Intellectual Property Unit, DG Trade, European Commission |
The list above is drawn up under the exclusive responsibility of the rapporteur.
Title |
Conclusion of the Sustainable Investment Facilitation Agreement between the European Union and the Republic of Angola |
|||
References |
10942/2023 - C9-0459/2023 - 2023/0181(NLE) |
|||
Date of consultation or request for consent |
22.11.2023 |
|||
Committee responsible Date announced in plenary |
INTA 14.12.2023 |
|||
Committees asked for opinions Date announced in plenary |
AFET 14.12.2023 |
DEVE 14.12.2023 |
EMPL 14.12.2023 |
ENVI 14.12.2023 |
FEMM 14.12.2023 |
||||
Not delivering opinions Date of decision |
AFET 18.7.2023 |
DEVE 23.10.2023 |
EMPL 29.6.2023 |
ENVI 17.7.2023 |
FEMM 13.7.2023 |
||||
Rapporteurs Date appointed |
Joachim Schuster 27.6.2023 |
|||
Discussed in committee |
28.11.2023 |
|||
Date adopted |
24.1.2024 |
|||
Result of final vote |
+: -: 0: |
32 2 5 |
||
Members present for the final vote |
Barry Andrews, Anna-Michelle Asimakopoulou, Tiziana Beghin, Saskia Bricmont, Jordi Cañas, Daniel Caspary, Markéta Gregorová, Roman Haider, Heidi Hautala, Karin Karlsbro, Miapetra Kumpula-Natri, Danilo Oscar Lancini, Bernd Lange, Margarida Marques, Gabriel Mato, Sara Matthieu, Emmanuel Maurel, Carles Puigdemont i Casamajó, Samira Rafaela, Inma Rodríguez-Piñero, Ernő Schaller-Baross, Helmut Scholz, Joachim Schuster, Sven Simon, Dominik Tarczyński, Kathleen Van Brempt, Marie-Pierre Vedrenne, Jörgen Warborn, Jan Zahradil, Juan Ignacio Zoido Álvarez |
|||
Substitutes present for the final vote |
Michiel Hoogeveen, Włodzimierz Karpiński, Liudas Mažylis |
|||
Substitutes under Rule 209(7) present for the final vote |
Hildegard Bentele, Izaskun Bilbao Barandica, Paolo Borchia, Antonio Maria Rinaldi, Domènec Ruiz Devesa, Lucia Vuolo |
|||
Date tabled |
26.1.2024 |
32 |
+ |
ECR |
Michiel Hoogeveen, Dominik Tarczyński, Jan Zahradil |
ID |
Paolo Borchia, Roman Haider, Danilo Oscar Lancini, Antonio Maria Rinaldi |
NI |
Tiziana Beghin, Ernő Schaller-Baross |
PPE |
Anna-Michelle Asimakopoulou, Hildegard Bentele, Daniel Caspary, Włodzimierz Karpiński, Gabriel Mato, Liudas Mažylis, Sven Simon, Lucia Vuolo, Jörgen Warborn, Juan Ignacio Zoido Álvarez |
Renew |
Barry Andrews, Izaskun Bilbao Barandica, Jordi Cañas, Karin Karlsbro, Samira Rafaela, Marie-Pierre Vedrenne |
S&D |
Miapetra Kumpula-Natri, Bernd Lange, Margarida Marques, Inma Rodríguez-Piñero, Domènec Ruiz Devesa, Joachim Schuster, Kathleen Van Brempt |
2 |
- |
The Left |
Emmanuel Maurel, Helmut Scholz |
5 |
0 |
NI |
Carles Puigdemont i Casamajó |
Verts/ALE |
Saskia Bricmont, Markéta Gregorová, Heidi Hautala, Sara Matthieu |
Key to symbols:
+ : in favour
- : against
0 : abstention