Africa-Press – Angola. The President of the United States of America, Joe Biden, begins a 3-day visit to Angola on Monday as part of the strengthening of bilateral and multilateral cooperation.
The visit of the US President recognizes Angola’s role as a regional leader and will reaffirm the true transformation of the relationship between the United States of America and the Republic of Angola.
The two countries work together to address pressing and critical challenges, such as improving infrastructure in Africa and enhancing economic opportunities and sustainable development on the continent.
The expansion of technologies and scientific cooperation, the strengthening of peace and security, and the strengthening of food security are also other priorities defined by the two countries in their strategic relationship.
With this visit, the two countries will have the chance to assess the effectiveness of existing agreements and project new areas of investment, involving, above all, the private sector.
During the three-day visit, the highlight will be a meeting with the Angolan head of state João Lourenço, on the first day, to address the future strategy of bilateral cooperation relations.
The program that Jon Biden will carry out in Angolan lands is a visit to the Lobito Corridor in the province of Benguela.
The rapprochement with the Americans has made Angola the third largest creditor of the US with a debt that has grown by 223 percent in the last seven years.
The arrival of João Lourenço to the Government in 2017 led to a redefinition of the country’s priorities in terms of relations with the main world powers, with a more open approach to the United States of America (USA).
Joe Biden’s visit is a new window for attracting new American investors, who can take advantage of the improved business environment in Angola to diversify their investments.
It is hoped that with this State mission, the two countries will find platforms of understanding adjusted to the reality of their respective peoples, capable of providing mutual advantages and diversifying existing cooperation.
Currently, the cooperation relations between the two countries have their legal framework based on a General Agreement that operates in the most varied areas of the country’s economic and social life, with a strong presence in the areas of infrastructure, trade, industry, agriculture, health, media, transport, food security, among others.
Angola and the US are strategic partners, with political-diplomatic and cooperation relations that have increased significantly for 30 years, leading to the signing of several legal instruments in the social, commercial and business fields.
Angola-US relations
Angola and the United States of America established formal diplomatic relations in 1993. The energy sector is at the heart of economic relations between the two countries.
The American Ex-ImBank has a credit line to support US exports to Angola.
The United States-Angola Chamber of Commerce is dedicated to promoting trade and investment between the two countries.
Fight against corruption
The U.S. supports Angola in the fight against corruption through various initiatives, including the Treasury Department’s program, launched in March 2019, to improve the country’s capacity to implement the anti-money laundering and countering the financing of terrorism regime
Economic cooperation
U.S. companies have investments in Angola, especially in the energy sector.
ExxonMobil, Halliburton, Baker Hughes, Caterpillar, Chevron, Cummins, TechnipFMC and Tidewater are all represented in the country.
In 2019, a consortium led by Chevron announced plans to invest more than $2 billion in the exploration of new offshore natural gas fields and the increase in production of existing fields.
The ImBank signed a Memorandum of Understanding with Angola in April 2019 with the aim of exploring guarantees of up to $4 billion in support of U.S. exports to the country.
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