Angola promotes diversification of economy at Rio business meet

14 August 2009

Rio de Janeiro, Brazil, 14 Aug – The Angolan Chamber of Commerce and Industry (CCIA) used this week’s Lusophone-China business meeting in Rio de Janeiro to call for more diversified investments in Angola, the CCIA’s secretary general said Thursday.

In comments to the Lusa news agency, Antonio Tiago Gomes said there are sectors in Angola’s economy that need investment besides hydrocarbons and diamonds.

“We want to avoid our economy continuing dependent on oil and diamonds. We wish to develop other areas,” said Gomes, who took part in the Meeting of Entrepreneurs for Economic and Trade Cooperation between China and Lusophone counties.

“It is important that there isn’t competition between us, but that there are complementary actions,” said Gomes, highlighting industry, rural development, tourism and fisheries as areas for investment in Angola.

Besides Brazil’s participation in the development of these sectors, with the future opening of a Luanda office of the APEX state exports and investments agency, Gomes noted the importance of China, which has Angola as its biggest trading partner in Africa.

The annual event, which ended Thursday, involved business meetings and presentations to identify forms of cooperation and establish joint ventures that would contribute to the development of the states concerned.

Macau, China and Brazil were joined at the meeting by Portugal, Angola, Cape Verde, Guinea-Bissau, Mozambique and East Timor.

Organized by Brazil’s APEX, the Rio encounter also counted on partnership with the China Council for the Promotion of International Trade (CCPIT) and the Institute for Promotion of Trade and Investment of Macau (IPIM). (macauhub)