Africa-Press – Angola. Exports of Angolan products to India were valued at US$4 billion in 2022, which represents an increase of around US$1 billion compared to the period 2021.
According to the ambassador of the Republic of India, accredited to Angola, Pratibha Parkar, most of the country’s export volume is oil, of which India imports 90% of this product from Angola.
Speaking to the press, on the sidelines of the India-Angola business exchange, which took place this Monday in Luanda, the diplomat made it known that, on the other hand, exports from India to Angola were around US$6 billion, resulting the sale of various products, such as medicines and agricultural inputs.
With this data, the ambassador hopes that bilateral economic cooperation can be expanded to other areas, attracting more Indian businessmen to Angola and opening up opportunities for Angolan businessmen to invest in India.
Despite an increase in trade between the two countries, this indicator still “does not represent the potential of both nations”, according to the president of the Chamber of Commerce and Industry of Angola (CCIA), Vicente Soares.
As a result, the India-Angola business exchange brought together a group of 18 Indian businessmen and 77 Angolan investors, with a view to exchanging experiences and seeking commercial partnerships.
During the event, which took place in one of the hotels in the capital of the country, the businessmen interacted, in round tables, about the existing business opportunities in both countries.
Angola is rich in hydrocarbon and mineral resources, while India is rich in human and financial capital, as well as low-cost technical expertise.
India established diplomatic relations with Angola in 1985 and has maintained extremely cordial relations ever since. The economies of both countries complement each other.
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