Portugal’s investment in Angola rises three-fold to 634 million euros

17 July 2009

Luanda, Angola, 17 July – Portugal’s direct investment in Angola rose three-fold in the 2008/2009 period, from 210 million euros to 634 million euros, said Portugal’s ambassador to Angola, Francisco Ribeiro Teles in Luanda.

The diplomat, who was speaking to Angolan news agency Angop at the Luanda International Fair (Filda 2009) , added that bilateral trade in 2008 totalled 2 billion euros and estimated that in the first half of 2009 it had risen by 23 percent.

Ribeiro Teles also said that economic relations between Angola and Portugal were increasingly important as Angola was now Portugal’s biggest trade partner outside Europe, and is overtaken only by Spain, Germany and France.

In the opposite direction, Portugal is Angola’s main trade partner and, with the exception of the oil and diamond sector, is the biggest foreign investor in Angola.

According to Ribeiro Teles, increasingly investments and trade relations are being amde in both directions, saying that, “there are significant Portuguese investments in Angola and Angolan investments in Portugal.”

The 2009 edition of Filda, held from 14 to 19 July, is attended by 28 countries and 680 exhibitors. (macauhub)