Ver Angola


Trade between Angola and China registers a 20 percent decrease this year

Trade between Angola and China recorded a decrease of 20 percent this year, compared to 2022, a result influenced by the global financial crisis, said this Wednesday the president of the Angola-China Chamber of Commerce, in Luanda.

: Hoje Macau
Hoje Macau  

Luís Cupenala spoke to the press on the sidelines of the International Conference "Paths for Development: Studies and Practices in China and Angola", organized by the Catholic University of Angola and the Chinese diplomatic representation in Angolan territory.

According to Luís Cupenala, in 2022 trade between the two countries reached 27.3 billion dollars, and statistical data from this year indicate that by October the amount of 18 billion dollars had been reached.

"There is a decrease, I think it results from the international financial crisis that is affecting all markets, a decrease of around 20 percent, which is quite worrying, but it is just a cycle", he stressed.

The official considered relations between Angola and China "quite consistent", believing that they will deepen more and more, due to the new investments being made by private companies.

Luís Cupenala also said that Angola needs to diversify its economy, investing mainly in the agricultural sector, instead of remaining dependent on oil, the main export product to China.

Chinese investments in Angola are "very large", highlighted the official, stressing that "the Chinese are very selective and very flexible from the point of view of the application of their investments".

According to the president of the Angola-China Chamber of Commerce, there are currently "very heavy investments in agriculture", highlighting that in Malanje province large areas of land already produce large quantities of rice to supply the national market.

"Investments are diverse and there is a certain aggressiveness of investments in agriculture and other key sectors, outside the oil sector, this is what encourages us and I am sure that as the market gains confidence, more investments will also happen in this area of agriculture and livestock farming", he expressed.

Asked to comment on whether Angola's rapprochement with the United States of America (USA) could influence the partnership with China, Luís Cupenala argued that the African country has always worked with the American Government, and the trip of the President, João Lourenço, to that country of America is strategic, and aims to strengthen political, economic and social relations.

"We think that the country needs a lot of investment and there is room for all those who look at Angola as a good space to invest, for all those who want to put their resources at the service of our economy", he stressed.


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