Angola: Brazil and Angola Project Expansion of Bilateral Trade
Luanda — The holding of the Brazil-Angola Economic Forum, which took place Thursday (3), in Luanda, represents another step towards boosting trade and attracting new investments to both countries, said the Brazilian ambassador to Angola, Eugênia Barthelmess.
In statements to the press, on the sidelines of the business meeting, the Brazilian diplomat highlighted the event, considering that it strengthens bilateral dialogue and trade relations between the two states.
In this regard, the ambassador pointed out that the average annual trade balance between the two countries is around 1.3 billion US dollars, a value composed of approximately one billion dollars in Angolan exports to Brazil, predominantly from the oil sector, and 300 million dollars in Brazilian exports to Angola, focused on animal protein.
She mentioned that the overall volume of business is still below the true potential of the two economies, emphasizing that the deficit is not a concern for Brazil. “Currently, more than 100 new Brazilian companies have expressed interest in investing in Angola, and some prospecting work and conversations with Angolan authorities are already underway,” the diplomat stated.
The dipolomat also highlighted that the flow of capital is reciprocal and covers strategic areas, citing as examples Angolan investments in Brazil through the agricultural sector and the company Angola Cables, responsible for managing submarine fiber optic cables that guarantee digital interconnection between Africa and the Americas. In this perspective, she also pointed to the role of the national airliner TAAG in the direct connection between the two nations.
In another sense, the Brazilian diplomat noted that more than a thousand Angolan health professionals are undergoing specialized training in Brazil, within the framework of technical and industrial cooperation. It also revealed the growing interest of Brazilian pharmaceutical companies in setting up production units in Angola, highlighting a project in an advanced stage in the province of Luanda, in coordination with the Ministry of Health.
The event, organized by the Association of Brazilian Entrepreneurs in Angola (AEBRAN), was attended by the Minister of Industry and Commerce of Angola, Rui Miguêns de Oliveira, as well as representatives from the government and business sectors of both nations.
By ANGOP.
