Trade between Angola and Italy estimated at 400 million euros

Trade between Angola and Italy estimated at 400 million euros
Trade between Angola and Italy estimated at 400 million euros

Africa-Press – Angola. The trade balance between Angola and Italy stood at 400 million euros in 2021, with a positive balance of around 160 million euros for Italians, according to data provided by the Italian ambassador to Angola, Cristiano Galo.

The diplomat stressed that the positive in trade is a result of exports, estimated at 280 million euros and the fact that Angola has imported goods valued at 120 million euros.

Cristiano Galo, who spoke in the context of the 76th national anniversary of the Republic of Italy, to be celebrated on Thursday, was optimistic about the “large margin of significantly increasing the results of the trade balance between the two countries”.

To achieve this objective, the diplomat explained that the Embassy he directs, together with the Office of the Foreign Trade Agency (ICE), works to promote the participation of Angolan companies in fairs in Italy, events that do not differ much from the Luanda International Fair (FILDA).

As for the Italian businessmen operating in the Angolan market, ambassador Cristiano Galo said that there are more than thirty and are engaged in the various sectors of activity, primarily in oil matters, agriculture (machinery and agribusiness) and Renewable Energies, Defense, Infrastructure construction.

“There are many Italian companies that appear in the Angolan market, interested in investing and increasing their presence”, guaranteed Cristiano Galo, highlighting that this is happening, to further increase relations between businessmen from partner states and within the framework of the Milan Forum, an initiative of the Angola and Italy Chamber of Commerce and Industry, an entity that contributes to the strengthening of the Italian presence in the Angolan market and with the ICE.

For the diplomat, this event is an important step, which will result in a major business event scheduled for the end of this year, by the Italian Embassy, ​​which aims to create a network of contacts between economic operators in the productive and financial sectors, in order to create synergies profitable and business opportunities between partner states.

“The contribution of the private sector can play a crucial role in supporting the efforts of economic diversification that the Government is carrying out and social integration with neighboring countries”, said Cristiano Galo, who added that he was optimistic that the daily work carried out by the parties and that have been developed to strengthen bilateral financial relations will bring positive results in the coming months.

Italy continues to support Angola in the various sectors, including Health, where it has already allocated over 4.2 million doses of Covax vaccine, in order to support the vaccination campaign.

Focus On Energy Transition
The Italian Ministry of Energy Transition and the Ministry of Oil, Gas and Mineral Resources signed, in April, a declaration of intent that will allow the launch of new initiatives and projects, to deepen cooperation between the two countries, in the common effort to diversify sources of supply and in the energy transition process.

The result was the result of the presence of the two Italian political missions in Angola, including the Minister of Foreign Affairs and International Cooperation of Italy, Luigi Di Maio, who came with the main purpose of reactivating the institutional exchange between the two States, at the highest level.

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