French investment in Angola is estimated at 10 billion euros

10 July 2009

Luanda, Angola, 10 July – Direct French investment in Angola is estimated to total 10 billion euros, according to a document from the French embassy, cited Thursday in Luanda by Angolan news agency Angop.

According to the document the investment is focused on the oil sector, companies that provide services to the oil sector, services, transport and the agri-food sector.

The French embassy noted, in its statement that trade relations between the two countries had increased by 42.3 percent, with imports rising 56.6 percent, whilst exports to Angola fell 6.7 percent in 2008.

The fall in exports was due to the reduced number of projects in the oil sector, which was worsened by the financial crisis, the document said.

It also said that French exports to Angola were mainly made up of equipment for the oil sector and aeronautical materials, whilst France mainly imports crude oil from Angola. (macauhub)