Trade between China and Portuguese-speaking countries is satisfactory, Angola’s trade minister says

22 July 2011

Luanda, Angola, 22 July – The development of trade and turnover between the Portuguese-speaking countries and China is recognised by everyone as being satisfactory, said Angola’s trade minister, Idalina Valente Thursday in Luanda.

According to the minister, in 2003, when the first contacts were made in Macau, trade between China and the Portuguese-speaking countries totalled around US$5 billion and, she added, “today that figure is insignificant compared to the figure of over US$90 million posted in 2010.”

According to Valente, the Luanda International Fair had made it possible for businesspeople from Macau, China and the Portuguese-speaking countries to find out about the excellent business opportunities that Angola offers.

Valente, who was speaking at the closing session of the meeting of Businesspeople for Economic and Trade Cooperation between China and the Portuguese-speaking Countries, said that Angola-china relations had been crucial in meeting some of the targets of the Angolan government and it was with great satisfaction that, based on the results reached in two-way trade and investment, the aim was to extend cooperation into other areas that reflect the potential of China and Angola’s new position amongst the Portuguese-speaking countries.

According to the trade minister, the 42 percent year-on-year increase in exports from Portuguese-speaking countries to China posted in 2010 validates the weight of investment and trade between China and the CPLP member states.

She added that these results had been achieved in a period of international financial instability which, even so, still had an effect on the final results of economic relations.

She called for implementation of a measure to create the Cooperation for Development Fund, worth US$1 billion for the 2010-2013 plan of action to support business ventures of small and medium.-sized companies in all the countries, a measure announced in Macau during the 3rd ministerial conference,, by Chinese Prime Minister, Wen Jiabao. (macauhub)