Angola/China Chamber of Commerce defends expanded bilateral trade

10 August 2017

The Angola/China Chamber of Commerce (CAC) is working to push non-oil sector trade over its current 3 percent share in the scope of the ongoing programme to diversify the Angolan economy, the head of the institution announced.

Arnaldo Calado recalled that 97.0 percent of bilateral trade involves the oil sector, specifically the export of Angolan oil to China. He was speaking at a meeting of the institution’s High Strategy Council.

Angop news agency reported that the meeting gathered various national entities linked to the economy. It considered the possibility of the Bank of China’s Luanda branch working with Chamber of Commerce members on financing that can add value to the national economy.

Members of the Angola/China Chamber of Commerce are currently involved in a hundred projects linked to mining operations, agriculture, health, education, construction, industry and services management, among others, with a view to stimulating the non-oil sector.

Figures released at the meeting indicate that the Chamber of Commerce receives daily an average of 20 investment proposals concerning the sectors of agriculture, tourism, health and education. (Macauhub)