Visit by China’s PM to Angola will boost cooperation

8 May 2014

A visit Thursday and Friday by the Chinese Prime Minister to Angola is an opportunity to boost cooperation between the two countries, especially in terms of natural resources, said Angola’s Geology and Mining Minister, Francisco Queiroz.

The visit by Li Keqiang is part of an African tour that also includes Ethiopia, Nigeria and Kenya. China is Angola’s biggest single oil buyer and in 2013 bought 45 percent of all the crude oil the country exported.

In 2010 the two countries set up a strategic partnership, with China providing Angola with credit lines that are repayable with oil, which led two-way trade to increase by over 2,000 percent between 2002, at the end of the civil war and 2012, making Angola China’s second-biggest Portuguese-speaking trading partner after Brazil.

According to official figures, trade between the two countries totalled US$35.91 billion in 2013, which was a drop of 1.24 percent against 2012. In 2013 China sold products to Angola worth US$3.96 billion (1.96 percent less) and bought goods worth US$31.94 billion ($.51 percent less).

Speaking to Angolan news agency Angop the Angolan minister said he was certain that cooperation between Angola and China would be increased and that “the Geology and Mining sectors will be one of the sectors,” covered by increased cooperation.

Queiroz noted that a Chinese company was on the list of companies that would carry out a geophysical survey of Angola and said that there had been a statement of interest from a Chinese company to take part in prospecting and exploration of mining resources in Angola. (macauhub/AO/CN)