Africa-Press – Angola. Angola’s Foreign Direct Investment in Cape Verde reached around 100 million euros, in more than 20 years, reported, this Wednesday, the Cape Verdean ambassador to the country, Júlio Morais.
The diplomat explained that the two states registered a notable dynamic in cooperation, between 2007-2013 and from 2017 to 2023.
According to the ambassador, Angolan investment has been concentrated, in recent years, in the telecommunications (UNITEL T+), banking (BAI Cabo Verde) and air transport (Best Fly Cabo Verde) sectors.
In addition to these areas, he said, more specific interventions prevail, in areas such as fuel logistics (SONANGOL) and the real estate sector.
Júlio Morais said that, outside the economic sector, an intense exchange of technical-institutional experience prevails, involving various areas of government, local government, civil society, cultural and academic, covering different areas.
He highlighted State Reform, Administrative Modernization, Integrated Citizen Assistance Services, Ombudsman’s Office, Digital Governance, and Telecommunications, Professional Training, Sports, Defense/Security Internal Administration, Culture, Gender Equality, Blue Economy and Energy Transition.
“We are now at a turning point, with the VIII Mixed Commission, held in March 2022, in the city of Praia, electing as the main axes of the new economic-business agenda, direct connectivity (logistics/air and sea transport), tourism/culture and agribusiness”, he said.
Regarding the state of bilateral cooperation, he said that, on the occasion of the VIII Mixed Commission, held in Praia, in March 2022, legal instruments were signed in the areas of finance, the Agreement for the promotion and reciprocal protection of investments, and also highlighted four cooperation protocols in the field of air transport, more specifically, between the 2 Governments (Air Services), the 2 Ministries of Transport, Linhas Aéreas de Angola (TAAG) and Cabo Verde Airlines and between regulatory agencies in the area of transport aerial.
He also highlighted the Agreements for the Elimination of Double Taxation in Income Tax Matters and Prevention of Tax Evasion, on Mutual Administrative Assistance in Customs Matters and on Mutual Administrative Assistance and Cooperation in Tax Matters, as well as the Memorandum of Understanding on area of Tourism, all in 2019.
He also highlighted the beginning, soon, of negotiations around the institutionalization of a dialogue mechanism between investment and export agencies (CVTI/APIEX), on the one hand, and the creation of the Cape Verde-Angola Chamber of Commerce, on the other.
He highlighted the recently resumed contacts for the relaunch of the Quibala agricultural and livestock project, in the province of Cuanza-Sul, of a strategic and transformational nature and perfectly adapted to the new sustainable development priorities of the two States.
As for the Cape Verdean community in Angola, he said that it has been around for three generations and is perfectly integrated, highlighting that many, even before Independence, contributed to the country’s projection as a global producer of sugar, cotton and coffee. Others have enjoyed notable military, political, diplomatic and business careers in independent Angola.
He added that, as far as he is concerned, Cape Verde is building favorable conditions for a qualitative leap towards the development of a Strategic Partnership, based, above all, on an economic-business dynamic, mainly private, mutually advantageous and robust, supported by competitive advantages and comparisons of both countries.
“Due to their striking specificity, our relations can constitute a reference of exemplary friendship and partnership in the promotion and acceleration of the much-desired, and necessary, African economic integration, between countries from different geo-economic sub-regions”, he highlighted.
The historical and fraternal relations between Angola and Cape Verde have strengthened over the years, being based on common values and a deep understanding of regional and global needs.
The formalization of political-diplomatic relations between Angola and Cape Verde occurred on August 30, 1977.
The two countries have good cooperative relations in the field of Finance, Energy and Transport, but they intend to expand this to the area of Higher Education, Science and Innovation.
At the moment, they are strengthening cooperation in the field of the Sea, in order to find ways to form partnerships in this area.
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