Angola becomes one of China’s biggest trading partners

5 November 2012

Angola has become one of China’s biggest trading partners in 2012, with trade totalling 17 billion euros in the first seven months of the year, the Chinese ambassador to Angola said in Luanda.

Gao Kexiang, the Chinese ambassador in Luanda, said at the end of a meeting with the Angolan vice president, Manuel Domingos Vicente, that, “cooperation has reached its best moment because there is mutual political trust, with notable economic and trade development, including personal exchange.”

In the first seven months of this year trade between the two countries rose 52.7 percent year on year.

Chinese imports from Angola rose by 53.3 percent year on year in the first seven months of the year to 16.5 billion, whilst its exports to Angola rose 47.3 percent to 1.5 billion euros.

According to Angolan news agency Angop, Gao Kexiang also said that there were, “other great business opportunities,” that are being assessed by both sides.

China is the biggest buyer of Angolan oil, with a market share of around 33 percent. (macauhub)

MACAUHUB FRENCH