Turkish investment in Angola is worth 200 million dollars. PR wants to attract more

João Lourenço, who is visiting Turkey to boost economic relations between the two countries, hopes to captivate investors in priority sectors, such as industry, mining, energy, tourism and transport, in addition to trade, where Angola and Turkey already have strong connections, says a note from the Angola Private Investment and Export Promotion Agency (AIPEX).

Currently, Turkish investments in Angola are mainly directed to mining and steel and the trade balance is unfavorable to the Angolan side.

Between 2015 and 2020, Angola purchased goods worth 1.7 billion dollars from Turkey, while Angolan exports to Turkey did not exceed 42 million dollars.

The President will give the inaugural speech at the Angola-Turkey Business Forum, at the Ato Congresium conference center in Ankara, Turkey, and should focus on the opportunities that the country offers, policies to support private investment and the diversification of the economy and measures that have been taken to improve the business environment.

The minister of Commerce of Turkey, Ahmet Mus, the chairman of the Board of Directors of AIPEX, António Henriques da Silva, and the president of the organization are also expected to intervene at the event, where around a hundred representatives of Angolan and Turkish companies are expected. congener DEIK.

In the last 18 years, Turkey has considerably increased its presence in Africa, from just 12 embassies and investments in the order of 100 million dollars in 2003 to 42 embassies and around 6.5 billion dollars in direct investment in 2021.

In the period from 2003 to 2019, trade with Africa increased about five times and 51 African cities are now served by Turkish Airlines, which plans to start direct connections with Angola soon, adds AIPEX.