Angola: Angola is China’s largest trading partner in Africa

15 January 2008

Beijing, China, 15 Jan – Angola has become China’s biggest trading partner in Africa, the advisor to the Angolan embassy in Beijing, André Panzo said in Beijing at a ceremony to celebrate 25 years of diplomatic relations between the two countries.

Between January and October 2007, trade between Angola and China exceeded US$10.3 billion, or 3.5 percent more than in the same period of 2006, according to official Chinese figures.

Angola overtook South Africa to become China’s biggest trading partner in Africa in 2006. Following Saudi Arabia, Angola was China’s second-largest supplier of oil in 2006, having exported 23.45 million tons of crude oil, according to the Chinese Trade Ministry.

At the ceremony, the chairman of the Association of Friendship of the Chinese People with Foreign Countries, Chen Haosu said that “Chinese companies are active participants in the Angolan economy and the projects carried out with Chinese support have translated into economic and social benefits for Angola.”

China has granted Angola a loan of US$4.4 billion for construction of infrastructures, to be repaid in barrels of oil. (macauhub)