Angola/Sao Tome and Principe: Cooperation should be based on business sector

29 November 2007

Luanda, Angola, 29 Nov – Angola plans to focus on the business sector in its economic relationship with Sao Tome and Principe in order for it to be a factor for development in bilateral cooperation, the Angolan oil minister, Desidério Costa, said in Luanda Wednesday.

Speaking at the opening of the 6th Session of the Angola/Sao Tome and Principe Bilateral Commission, the minister said that it was the Angolan government’s intention to discuss procedures to establish business partnerships, which would allow for a greater presence of Angolan economic agents in the Sao Tome market, according to Angolan news agency Angop.

In order to make this intention a reality, he said that the two governments were setting up the material and financial conditions, with a view to encouraging technical and business cooperation through partnerships and direct investment.

According to Costa the oil, transport, finance, banking and agricultural sectors are the focus of re-launch of economic cooperation between Angola and Sao tome and Principe, which includes, amongst other areas, hotels and tourism, culture, public works, justices and the media.

The meeting, which will run until Friday, will summarize the commitments taken on by both countries during the 5th Session held in Sao Tome and Principe, in May 2006, and the level of execution of the conclusions of the technical preparatory meeting held in January this year on the archipelago.

The 6th Session of the Bilateral Angola/Sao Tome and Principe Commission is also due to hold several working meetings between members of the Angolan government and Sao Tome ministers that are part of the delegation and the President of the Regional Government of Principe. (macauhub)