Africa-Press – Angola. Trade cooperation between Angola and South Africa, worth US$29.6 million (one USD is equivalent to Kz 825.6), falls short of its potential, considered today the executive director of the Private Investment and Export Promotion Agency ( AIPEX), José Sala.
For the official, the two States have the potential to stimulate economic growth and promote regional development, creating new and high jobs for their citizens.
Speaking to the press, on the sidelines of the Angola – South Africa Business Forum, the AIPEX director added that the South African investment, estimated at US$29.6 million, resulted from seven projects, five of which in the service provision area, one in the manufacturing sector and the same number in agro-industry.
In José Sala’s view, Angola and South Africa, countries in the same region and economic bloc, cooperate on a complementary basis, with gains for both parties to reinforce the economic and social development of both States.
As valences, the administrator of AIPEX emphasizes that Angola is an important producer of oil, natural gas, diamonds and other natural resources, while South Africa has a robust and diversified economy, with a large consumer market, based on a developed industrial base.
In this sense, continues the official, during the three days (22nd to 24th) of the Business Forum, AIPEX, along with national businessmen, will present the areas of greatest investment opportunities to the South African business delegation, with particular emphasis on the manufacturing industry, agribusiness, fisheries, health and education sectors.
To that end, the two governments and their respective companies need to work together to facilitate trade and investment, which also includes improving infrastructure and establishing cooperation agreements.
In this regard, AIPEX presents the economic legal framework, as well as the ongoing reforms in Angola, such as the approval of the Code of Tax Incentives for Private Investment, which contributes to the reduction of production costs, for those who invest in priority sectors.
On the occasion, the vice-president of the Angola – South Africa Chamber of Commerce, Paula Xavier, said that her organization has registered 26 companies that have already created more than 1,000 jobs in Angola.
“Angolan businessmen need to look to South Africa as a great partner, so that together they can make the region economically strong”, he focused.
In turn, the representative of the AIPEX counterpart in South Africa (Wesgro), Tatiana dos Santos, indicated that the South African business delegation is made up of 13 business groups from different sectors.
“South African businessmen participate in this business forum to establish partnerships and do business, with the aim of stimulating trade between the two countries”, stressed the head of the South African delegation.
At the event, the South African ambassador to Angola, Oupa Ephraim Monareng, considered the relations between the two States to be excellent and historic, but “the trade balance is still weak and needs to be boosted from forums like today”.
The representative of the United States of America Agency for International Development (USAID), William Butterfield, invited Angolan businessmen to export to his country, through South Africa.
Angola and Africa, members of the Southern African Development Community (SADC), maintain excellent cooperation relations in the political, diplomatic, economic and cultural domains.
In recent years, the two States have strengthened bilateral relations with the signing of several trade agreements, which include cooperation in the oil sector and the elimination of visas in ordinary passports.
For More News And Analysis About Angola Follow Africa-Press
