Menu
Angola
Information on Loading Certificate
Links
Membership Application
2003 Trade Mission
USACC 1999 Annual Membership Meeting
I. With twenty-one members in attendance, along with 19 with proxy statements submitted, the 1999 annual meeting of the membership [AMM] of the U.S. Angola Chamber of Commerce [USACC] had a quorum to conduct the meeting.
II. Mr. Warner Williams, the Chair of the Board of Directors [BD] of USACC, opened the AMM at 3H12.
III. In his opening remarks, Williams noted some of the positive economic steps that were being taken by the Angolan government and the new economic team to address the current economic and financial crisis in Angola. Despite the difficulties posed by the war, he thought there were definite opportunities for American investment and greater economic and commercial involvement in Angola. This was the challenge that the Camber faced.
IV. The Chair requested that the Executive Director, Amb. Paul Hare, provide an overview of the current situation in Angola. Hare, who had just returned from Angola, said that the military situation appeared to be relatively stable with no major battles being fought at the present time. It was unclear whether the government would launch a major offensive during the dry season. Overall, he thought that the government had adopted a long term strategy of progressively weakening the military capabilities of UNITA, coupling this strategy with an economic reform program and focused development in secure zones, principally along the coast. It was also evident from his discussions with the new economic team that the objective was to reach an early agreement with the IMF and the World Bank, which in turn should have positive benefits of providing a more favorable investment climate.
Hare was particularly concerned by the growing humanitarian crisis that Angola was facing. Because of UNITA tactics of disrupting lines of communications, isolating provincial towns, and even attacking humanitarian workers, it was becoming increasingly difficult to distribute food supplies to the most needy. To compound the problem, the World Food Program was only able to supply half the amount of food that was required to meet the needs of the growing numbers of internally displaced persons and , unless their stocks were replenished, WFP's food reserves would run out by October. The personnel of the World Food Program attributed much of the problem to the internatinal attention that was being given to Kosovo, at the expense of other grave humanitarian situations, such as in Angola.
V. The meeting then turned to item two -- the minutes of the 1998 AMM. After the members had the opportunity to review the minutes they were approved unanimously.
VI. For the next order of business, the Chair moved agenda item number nine, which proposed a resolution to amend the bylaws of the USACC. The Chair explained that the purpose was to have the executive committee better reflect the diversity of interests among chamber members, as well as the growing role of some members in Angola. Specifically, it was proposed that Article IV, Section 2 be amended as follows:
Resolved.
1. to expand the membership of the Executive Committee of the U.S.-Angola Chamber of Commerce; and,
2. To, therefore, alter the first sentence in Article VI, Section 2, of the bylaws governing the Executive Committee from:
The Executive Committee shall be chaired by the Chairman of the Board of Directors and shall consist of two other Directors appointed by the Chairman.
to
The Executive Committee shall be chaired by the Chairman of the Board of directors and shall consist of no less than four and no more than six other Directors appointed annually by the Chairman, subject to the approval of the Board of Directors.
Resolution 1999-1 was approved unanimously
VII. The Chair then moved to item under 8 on the agenda: USACC finances for the FY 1998. Dan McGarry presented an overview, indicating that 1998 was a productive year for the USACC. In large measure, this was attributed to the revenues obtained from the 1997 trade mission, organized in cooperation with the Corporate Council. McGarry said that the USACC presently has total membership of 78 members with nine Angolan-based companies. He concluded his presentation of the financial situation with the projected budget for the 1999. While expenses were expected to increase somewhat, he expected revenue to exceed $200,000, thus showing a small surplus for the year.
Hare then presented highlights of USACC activities since the last annual meeting. They included eight functions in Washington and two major luncheons in Luanda, respectively with the American Ambassador and the Minister of Finance. The Executive Director had also made three trips to Angola during this period. Budget permitting, he planned to travel to Angola three or four times a year. He had also been present at the Corporate Council's Houston Summit in April, where he had moderate a workshop on Angola sponsored by Chevron.
Hare said he had examined the possibility of having a full-time employee to staff the office in Angola. While the USACC has a part-time employee at present, he thought that a permanent representative would provide greater continuity and support. However, after reviewing the budget, he had concluded that this proposal would be too expensive at this time. Hare thanked Chevron for providing office space to the chamber in their new office building.
Hare encourage chamber members to attend the reception on June 30 in honor of American and Angolan delegations to the Bilateral Consultative Commission. He indicated that the chamber's sponsorship of reception was intended to indicate the support of the private sector for this initiative and to determine how the chamber and the private sector could become involved in the consultative process as it evolved. He also noted that the Luanda Council planned to host a luncheon in Luanda on July 7 in honor of Edward Casselle, Assistant Secretary of Commerce for Near East and African Affairs. In this context, the Chair indicated that Chevron had discussed with Casselle the possibility of organizing a reverse trade mission bringing Angolan entrepreneurs to the United States who could subsequently develop local business in support of the rapidly growing oil sector in Angola. One of Casselle's objectives was to explore this concept while he was in Angola.
Hare said that while the reverse trade mission was being pursued, the chamber continued to keep under close review the possibility of organizing a trade mission to Angola. While the security situation might continue to remain unclear, he thought the economic climate could improve in the coming months making a trade mission much more feasible.
VIII. The Chair thanked Hare for having overseen a good year of activities by the chamber. He then moved to the final item on the agenda: the election of new members to the BD. After votes were counted and recorded by Mr. McGarry, the slate submitted by the Nominations & Elections Committee was elected. They included Africare, Citizens Energy, Halliburton, Lazare-Kaplan International and Samuels International Associates for a three-year term and Amer-Con for a one year term.
IX. The 1999 AMM adjourned at 4H13.
Approved 6/16/99 by
Cesar Souza
Secretary of the Board of Directors
of the U.S.-Angola Chamber of Commerce