Africa-Press – Angola. An agreement to guarantee the reinforcement and increase of commercial and financial relations between the Republic of Angola and the People’s Republic of China was signed in Luanda, by the Minister of State for Economic Coordination, José de Lima Massano, and by the Chinese Commerce Minister Wang Wentao.
The document was initialed at the end of the II Guidance Meeting for Angola-China Economic and Commercial Cooperation, and, on the occasion, the Minister of State for Economic Coordination, expressed Angola’s interest in continuing to deepen commercial and financial relations with entities public and private sectors of the People’s Republic of China.
“The presence of China in Angola and its businessmen has been contributing significantly to new infrastructure across the country, a fact that has allowed the Angolan Government to better serve Angola’s socio-economic development goals,” said José de Lima Massano.
At the meeting, the Chinese official highlighted his country’s investments in Angola in recent years, highlighting the fact that Angola is one of the biggest trading partners in Africa and the biggest source of oil imports for the Asian giant.
According to the Chinese leader, the scale of bilateral trade between the two countries has grown steadily, and according to China’s statistics, trade in 2022 reached US$27 billion, an increase of 16% compared to the previous year. last year.
Wang Wentao reiterated that Angola has become China’s second largest trading partner in Africa.
For this purpose, said the official, the commercial structure was continuously optimized for exports of non-oil products to China, with emphasis on mineral products, which increased significantly.
He also stressed that, in the field of investments, China has already become an important investor in Angola and, according to Chinese statistics, the various investments here cover oil, mining, transforming agriculture, among other areas.
In terms of finance, China is the biggest source of finance for Angola, where its banks have already financed more than US$48 billion to Angola, contributing to the socio-economic development of this friendly country.
In the field of infrastructure, continued the Chinese official, Chinese companies built more than 2,800 meters of railways and more than 20,000 kilometers of roads.
They also built around 100,000 social houses, 100 schools and 50 hospitals in different provinces of Angola.
Angola has become China’s second largest trading partner in Africa, after South Africa. The list of China’s main trading partners in Africa also includes Nigeria, Egypt and the Democratic Republic of Congo.
It is estimated that in China’s total trade, the African continent appears in sixth place with only 3.83% of the country’s total international trade.
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