Angola and Brazil want to use national currencies in trade

14 April 2016

Angola and Brazil will analyze a possible agreement to make trade payments in the currencies of both countries, said Wednesday in Luanda the minister of Foreign Affairs of Brazil, Mauro Vieira, cited by Angolan news agency Angop.

The minister said that the audience granted by the President of Angola also analysed the agreement for cooperation and facilitation of investments signed by both countries in 2015 and issues related to cooperation in the fields of defence, health and education.

Vieira also said he had taken advantage of the audience with the Angolan President to explain “in detail” to José Eduardo dos Santos the “political moment that Brazil is experiencing and economic issues the government has faced, due to the fall in international commodity prices.”

Angola and Brazil have a strategic partnership agreement and hold consultations on a regular basis to review the progress of bilateral cooperation.

Angola’s exports to Brazil totalled US$28.6 million in the first quarter of 2016, a decrease of 10 percent year on year. Brazil’s exports to Angola totalled US$92.7 million, a contraction of 85.7 percent compared to US$647.9 million in the same period of 2015.

Brazil’s Minister of Foreign Affairs is due to leave Angola on Thursday afternoon. (macauhub/AO/BR)