Africa-Press – Angola. Angola continues to be an attractive country for Chinese investors, especially in this new era of cooperation, said this Wednesday, in Beijing, the president of the Angola-China Chamber of Commerce (CAC), Luís Cupenala.
Speaking to the press, regarding President João Lourenço’s visit to China, from the 15th to the 17th of this month, Cupenala recalled that trade between the two States reached more than 27 billion US dollars in 2022.
According to the businessman, the Chinese invested more than US$23 billion in oil exports that year, while Angola spent more than US$4 billion on importing various products from that Asian country.
Luís Cupenala understands that the Angolan President’s state visit to the “Asian giant” will help to increasingly strengthen trade exchanges and increase the mobilization of foreign investment, especially in the area of agriculture.
“The ratification of the Agreement for the Protection and Promotion of Private Investment will guarantee the security of investments”, he said, having highlighted that this visit will create a space for revitalizing friendship between the two States.
He informed that, as part of the visit of the Angolan Head of State, the Chamber of Commerce sent a delegation, representing 10 national companies, to participate in the Angola-China Forum, taking place on the 16th of this month.
President João Lourenço’s visit, which runs from Friday to Sunday, has as its highlight a meeting with his Chinese counterpart, Xi Jinping, on the first day, aimed at discussing the future strategy of bilateral relations.
Meetings are also scheduled for the Angolan leader with the Chinese Prime Minister, Li Qiang, and with the President of the National People’s Assembly (Parliament), Zhao Leji.
A joint statement should be released following João Lourenço’s conversations with the highest entities in the People’s Republic of China.
The Angolan President will observe a vast program, with emphasis on participation in a business forum, with the topic of investment in Angola at the center of the debates.
Hearings are also planned for Chinese businesspeople who already operate in the national market or wish to do so in the future, as well as a meeting between the Head of State and representatives of the Angolan community in China.
The last day of the visit will be in the province of Xandong, where João Lourenço will maintain contacts with those responsible for the productive sectors in the textile, pharmaceutical and agricultural industries.
According to available data, over the last 13 years, China has become one of the countries that invested the most in restructuring and building infrastructure in Angola, which allowed the movement of people and goods and the revival of the Angolan economy.
Since the beginning of the reconstruction and construction of development infrastructures in Angola, in 2002, the trade balance between the two States was fixed at 150 million dollars. Twenty years later, China became Angola’s largest creditor.
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