Services sector has “great potential” in Angola for Brazilian companies

7 December 2009

Sao Paulo, Brazil, 7 Dec – The services sector has “great growth potential” for Brazilian companies in Angola, one of Brazil’s main trading partners in Africa, the vice president of the Angola-Brazil Chamber of Commerce said in Sao Paulo Thursday.

Eduardo Arantes said that diversification of the Angolan economy, which is still very focused on oil and diamond production, would open up the way for Brazilian companies.

“The services sector accounts for just 5 percent of Angola’s Gross Domestic Product (GDP), which represents a great potential in the future for Brazilian companies,” he told Portuguese news agency Lusa.

Arantes took part Thursday in an event to mark the founding of the Angola-Brazil Chamber of Commerce, in Sao Paulo, the second organisation of its kind in Brazil.

In Rio de Janeiro, the Brazil-Angola Chamber of Commerce and Industry, has been operating since 1995 and was set up during an official visit by Angolan President José Eduardo dos Santos to Brazil.

“Our proposal is a little more wide-ranging, with the participation not only of large companies, but of small-scale businesses interested in the Angolan market,” he said.

The new business institution was founded by a group of 12 Angolan and Brazilian businesspeople, mainly from the services sector.

The Angola-Brazil Chamber of Commerce plans to carry out at least two business missions, seminars and congresses, with both countries in 2010.

Between 2000 and 2008, trade between Brazil and Angola rose from a little over US$137 million to US$4.2 billion, mainly through oil and manufactured products, such as vehicle body works and tractors. (macauhub)