LDCs in Africa – case study of Angola
Angola is a resource-rich (predominantly oil, precious gems, and metals) sub-Saharan African country located on the west coast of Africa. It is one of the largest oil producers in Africa and the largest African country by land area south of the equator (roughly twice the size of Texas or continental France).
Angola is currently recognised by the United Nations (UN) as a least developed country (LDC). LDC status is an indication to the international community of the necessity for special concessions to support. According to the UN, such concessions cover benefits in the areas of development financing (grants and loans from donors and financial institutions), the multilateral trading system (including preferential market access and special treatments), and technical assistance (towards trade mainstreaming through the Enhanced Integrated Framework). Graduation from LDC status is an important milestone in a country’s development path. However, graduation is not without its challenges given the loss of international support measures at a critical time in the process of integration into the global economy. Changes specific to Angola will be discussed in this Trade Brief.
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