"In the agreement now signed, we anticipate from that stage to develop a new strategy in the economic field so that there is greater productivity for both parties, so that, in the end, we can stop the growing debt and be able to implement business in other areas", said the São Tomé finance minister, Genésio da Mata, at the end of three days of work with an Angolan ministerial delegation that was in São Tomé.
Genésio da Mata underlined that Angola is one of the "main partners and creditor" of São Tomé and Príncipe, and during these days of work the parties sought to refocus "a new cooperation strategy in the economic field".
According to the Sao Tome Minister of Finance, during the work, the parties recognized the bilateral debt between the two States, as well as the fuel debt that the Sao Tome Water and Electricity Company (Emae) owes the Company Nacional de Fuel e Oil (Enco), of which the Angolan State is the largest shareholder, through Sonangol.
"Bilateral debt with Angola is currently valued at around US$68 million and [Emae's] commercial debt is around US$252 million", detailed Genésio da Mata.
The São Tomé finance minister referred to the desire to curb the growth of debt with Angola, having underlined the need to "adopt measures so that the wave of indebtedness is stagnated" at all levels.
"We have a debt capacity limit that must be respected and we must adopt a strategy in the sense of working so that there is wealth creation that can face the current existing debts", referred the Sao Tome minister.
The Angolan delegation was headed by the Minister of State for Economic Coordination, Manuel Nunes Júnior, and also included the Ministers of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, Foreign Affairs, Téte António, Culture and Tourism, Filipe Silvino of Pina Zau, as well as the Secretaries of State for International Cooperation and Angolan Communities, Custódio Vieira Lopes, and for Civil, Maritime and Port Aviation, Emílio Londa.
Also part of the delegation were the deputy governor of the National Bank of Angola, the president of the Private Investment and Export Promotion Agency, the president of Sonangol, the president of the Board of Directors of the Institute of Asset Management and State Participation and the President of the National Oil and Gas Agency.
After the signing of the agreement, no Angolan representative made statements to journalists.
After the meeting with the President of São Tomé, Carlos Vila Nova, the Angolan Minister of Foreign Affairs, Téte António, underlined the good relations between the two countries.
"What we really want is to transform these excellent relations from the political point of view into economically solid relations from the business point of view as well. There is a set of business opportunities that will certainly interest both countries, we will continue to deepen these investment opportunities and of business", said the head of Angolan diplomacy.
"All this will contribute to the Sao Tome economy to grow more, also so that Angola can benefit from this growth in Sao Tome that is certainly expected. Antonio.
