Angola and Italy sign cooperation agreements

8 July 2015

The governments of Angola and Italy signed three bilateral cooperation instruments, notably for the development of agriculture, during a visit that ended Tuesday by the Angolan President, José Eduardo dos Santos, to Rome.

The countries signed two Memoranda of Understanding on economic and financial cooperation and a third legal instrument on political consultations between the diplomats of both countries, directly involving the Italian Foreign Ministries and the Angolan Ministry for Foreign Affairs.

Economic cooperation and support for Italian exports to Angola, in particular on the negotiation of insurance and sales risks assurance through the Italian Insurance Foreign Loan Insurance Company, include the two memoranda of economic and financial understanding, the Angolan government said.

“We will draw on the experience and scientific knowledge of Italy and the execution ability of its entrepreneurs to develop our agriculture, boost the food industry and diversify the economy,” the minister of Agriculture, Afonso Pedro Canga told the Angolan press.

The official visit by José Eduardo dos Santos to Italy ended Tuesday, after meetings with Italian businessmen and on Monday meeting with the Italian President, Sergio Mattarella, and Prime Minister Matteo Renzi.

Figures from the Angolan National Statistics Institute of Angola Statistics showed Italy was the 11th destination for exports from Angola in 2014, totalling 131.736 billion kwanzas (US$1.066 billion), or 2.29 percent of total exports.

Italy was the 15th biggest source of Angola’s imports, with a share of 1.74 percent of the total and an amount of 49.137 billion kwanzas (US$397 million). (macauhub/AO)