Angola prepares cooperation with Industrial and Commercial Bank of China

19 October 2009

Luanda, Angola, 19 Oct – A delegation from Angola is due to travel to China in November to study the details of cooperation with the Industrial and Commercial Bank of China (ICBC), Angola’s Finance Minister said Friday in Luanda.

On leaving an audience that the President of Angola granted to the vice-president of the ICBC, Yang Kaisheng, Severim de Morais said that negotiations with the Chinese side could lead to bilateral cooperation agreements between the ICBC and the Angolan Finance ministry.

The Finance Minister said it was necessary to quickly increase cooperation with the bank as it had great economic power in China and the world.

The vice-president of the ICBC said that the possibilities for investment in Angola were vast and could contribute to the development of economic and commercial relations between Angola and China.

The ICBC is one of the four biggest investment banks in China, together with the Bank of China, the Agricultural Bank of China and the Construction Bank, and was founded on 1 January, 1984. (macauhub)