According to a note from the AEP, the Luanda International Fair (Filda), which will take place in the Special Economic Zone, is the biggest commercial event of an international dimension held in Angola, and counts on the partnership of the Agency for Investment and Foreign Trade of Portugal (AICEP) and the Chamber of Commerce and Industry of Portugal (CCIPA).
The note highlights, citing the chairman of the board of directors of AEP, Luís Ribeiro, that "although the economic scenario in Angola has improved, following the increase in the price of 'Brent', internal consumption, the decrease in Chinese exports and the encouraging growth, since 2021, of GDP [Gross Domestic Product], Portuguese companies continue to identify difficulties".
According to Luís Ribeiro, "the main obstacles pointed out by the companies that are part of the AEP missions consist of the availability of foreign currency for making payments, the difficulty for Angolan companies to obtain credit insurance and the quantities, which sometimes do not reach a container and hinders the financial viability of the operation".
"Despite the difficulties still felt, it is clear that our companies are getting closer to Angola. For example, at AEP we see a gradual increase in the number of participants in Filda: last year there were 14 companies and this year there are 22", underlined Luís Ribeiro.
The 22 Portuguese companies from Portugal to participate in Filda 2023 are from the sectors of civil construction, commerce, industry, agriculture, energy, among others.
Currently, more than 4000 Portuguese companies export to Angola and around 1200, of Portuguese origin or mixed capital, operate in the Angolan market, with emphasis on the construction sector.
The International Monetary Fund (IMF) estimates that this year GDP will grow by up to 3.4 percent, driven by the rise in oil prices, which should position Angola as the third largest African economy, points out the AEP in its note.
Portugal continues to be an important economic partner of Angola, with exports and services by Portuguese companies reaching more than two billion euros by the end of October 2022, already surpassing pre-pandemic levels.
"Regarding the deepening of socio-economic relations between Portugal and Angola, the AEP has played an active role. Since 1990, the AEP has organized capacity-building, training and internationalization actions in Angola, coordinating national participation in Filda since 2002, having already involved large hundreds of Portuguese companies", stresses the document.
