Angolan minister highlights China’s contribution to Angola’s development

6 July 2009

Beijing, China, 6 July – Angola’s Oil Minister, José Maria Botelho de Vasconcelos, has said in Beijing that China had a very important role in the economic development of Angola, noting the country’s contribution in the oil, construction and agricultural sectors.

Botelho de Vasconcelos, who as well as being a minister is the current President of the Organisation of Petroleum Producing Countries (OPEC), made the statements when speaking at the world summit of reflection groups, which was held in the Chinese capital.

Speaking about the relationship between energy and the world economy the minister noted that energy was the engine driving economic growth, with oil as the main source accounting for around 37 percent of the world’s energy mix.

The Angolan minister noted that in 2008 annual demand for oil fell for the first time since the beginning of the 1980s, which had been a biog shock for the industry, which was felt along the entire supply chain.

The summit, organised by the Chinese Centre for International Economic Exchanges (CCIEE), which ended Saturday following three days of meetings, aimed to discuss in depth the trends of the international financial crisis and analyse how the world economy can return to growth.

The event, the first one organise by the CCIEE since it was founded on 20 March 2009 was attended by politicians, academics and consultants from several international organisations, including the World Bank and the International Monetary Fund. (macauhub)