Chinese companies set up Chamber of Commerce in Angola

21 March 2006

Luanda, Angola, 21 March – A group of Chinese companies operating in Angola officially launched the Chamber of Commerce of Chinese Companies (CCCCA) Friday when its first meeting was held, officials said Tuesday.

Speaking at the meeting, the Chinese ambassador in Angola, Zhang Beisan formally announced the setting up of CCCCA, which has 26 members at present, including China National Machinery & Equipment Import & Export Corporation (CMEC), Jiangsu International and China International Water & Electric Corp.

The CCCCA also included ZTE Corporation, Huawei, Sinosteel Corporation, China Petroleum & Chemical Corporation (Sinopec), China National Overseas Engineering Corporation (COVEC) and the China State Shipbuilding Corporation (CSSC).

Angola and China diplomatic relationship began in 1983 and since then cooperation between the two countries has steadily increased, particularly after the end of the Angolan civil war when more Chinese companies came to the country to take part in its rebuilding projects.

In 2005, bilateral trade between the two countries totaled US$6.95 billion, a year-on-year increase of 41.6 percent, with China exporting US$370 million and importing US$6.58 billion, mainly in oil, from Angola. (macauhub)