Trade between Angola and India totals US$7.646 billion in 2012/2013

29 May 2014

Trade between Angola and India totalled US$7.646 billion in 2012/2013, compared to US$1.286 billion in 2007/2008, said the head of an Indian business mission to Angola in Luanda.

Sheila Sudhakaran sad that economic relations between Angola and India had grown significantly and noted that Angola was now the second-largest African supplier of oil to India after Nigeria.

Sudhakaran, who is also the secretary-general of the Federation of Indian Chambers of Commerce and Industry, said that there was a 6,000-strong Indian community in Angola, and that 1,500 of these people worked in the Angola LNG project, and 1,200 in the construction sector, particularly at the Sumbe Cement Factory, in Kwanza Sul province.

Sudhakaran also said that at the Angolan government’s request India would increase its credit line to Angola and that the funding would be applied to rail reconstruction projects and to supply agricultural equipment, such as tractors.

As well as cooperation in the natural gas, energy and oil sectors, India want to focus on exports of vehicles, agricultural machinery and food, pharmaceutical products, cosmetics, spirits, paper and wood products.  (macauhub/AO)