Angola’s exports to Canada exceed US$1 billion in 2011

17 February 2012

Luanda, Angola, 17 Feb – Angola’s exports to Canada in 2011 are estimated at over US$1 billion, the Canadian trade delegate for Angola, Cidia Scott said Thursday in Luanda.

Speaking to Angolan news agency Angop, on the sidelines of an Angola/Canada business meeting, Scott said that in the last five years Angola’s main export product to Canada had been oil.

In the opposite direction – Canadian exports to Angola – the main products were from the mining, food and engineering services sectors, and totalled around US$195 million in 2011, which led the balance of trade to favour Angola.

Without giving precise figures, she said that this year two-way trade had increased considerably as a result of a US$1 billion credit line opened up by the Canadian Council for Africa (CCA) to make it easier for Canadian companies to get involved in infrastructure projects in Angola.

Scott said that the credit line would be managed by Angolan bank Banco de Poupança e Crédito (BPC).

The Angola/Canada business meeting is the result of a seminar on business opportunities in Angola held in August 2010 in the Canadian city of Montreal. (macauhub)