Portugal: Angola is eighth foreign market for Portugal and second outside EU

15 November 2007

Porto, Portugal, 15 Nov – Portuguese exports to Angola rose 40.7 percent by September, to 1.188 million euros, Luísa Agapito of the Portuguese foreign trade agency said in Porto Tuesday.

According to figures published during a conference entitled “The Angolan Construction Market – Building Opportunities. Cementing Partnerships,” Angola absorbed 79 percent of Portuguese exports to Portuguese-speaking African Countries (PALOP), four times the sum of sales to Portugal to all other BRIC (Brazil, Russia, India and China) countries.

Numbers which, according to Agapito, of AICEP, make Portugal Angola’s main supplier, followed by the US, Brazil, China, South Africa, France and Japan.

Between 2001 and 2006 Portuguese exports to Angola “more than doubled,” she said, with malt beer, wine, furniture, goods vehicles, automatic machines and construction materials high up on the export list.

Amongst the sectors on which Portuguese businesspeople interested in investing in Angola should focus, Agapito pointed to infrastructure reconstruction in the energy sector, telecommunications, rail and roads and construction and public works, the real estate sector, basic sanitation and construction materials.

Food products, furniture, medication, equipment, logistics, professional training and consulting services for information technologies and education were other significant areas.

Saying that Angola had been “very receptive to Portuguese investment,” Agapito noted, however, that direct Portuguese investment in Angola in the last decade represented just 1.8 percent of Portugal’s total foreign direct investment. (macauhub)