Ver Angola

Trade

Trade between China and Angola recovers 24 percent in 1st half after sharp drop in 2020

Trade between Angola and China rose 23.9 percent in the first half of 2021, to 10.55 billion dollars, against the same period of the previous year, said the Chinese ambassador to Angola, Gong Tao.

: Lusa
Lusa  

The acceleration comes after a 37 percent drop in trade between the African country and the Asian country in 2020, reflecting the effect of the covid-19 pandemic.

According to Gong Tao, in the first six months of the year China exported US$1.03 billion to Angola and imported a value nine times higher, at 9.5 billion dollars.

Speaking to journalists at a press conference in Luanda, the Chinese diplomat said that companies from his country had survived the difficulties and were interested in investing in Angola, giving as an example two factories recently built in Angola, for production of tiles and energy and water meters.

"We know that, like the others, (the companies) faced difficulties in maintaining operation and cooperation because of the challenges of covid-19, but even so a large part of them managed to survive and more Chinese investment is coming," highlighted the official.

Chinese companies already employ more than 10,000 local workers and a package with 114 vacancies for internships was recently made available, he said.

The ambassador dismissed reports and complaints from workers against Chinese employers, indicating that he was unaware of them and stressing the support that has been given by companies in the fight against covid-19.

"We support greater corporate social responsibility," he stressed.

Gong Tao also pointed out the interest shown by Chinese investors in the privatization program, demonstrated recently in a 'road show' on the subject, promoted by the Angolan authorities, and where about 200 Asian businessmen participated.

The diplomat added that this is also the will of the Chinese government, which "will continue to encourage Chinese companies to invest more in the Angolan market and participate in the process of economic diversification and industrialisation of the Angolan economy.

Gong Tao said that, by 2020, the volume of Chinese investment in Angola reached 100 million dollars, in areas such as oil, agriculture, fishing, industry, trade, construction and real estate.

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