Angolan and Indian business people have set up the Angola-India Chamber of Commerce and Industry “in order to help improve the environment in which bilateral business is conducted,” with the inaugural session taking place on Monday in Luanda, according to Angolan news agency Angop.
The Angola-India Chamber of Commerce and Industry states it is a partner of both countries’ governments on trade and investment, focusing on economic diplomacy and promoting both countries in the economic, social and political fields, according to its mission statement.
The Angola-India Chamber of Commerce and Industry currently has 50 members, and this number is expected to grow, with a strong focus on supporting Angolan entrepreneurs who wish to conduct business and investments in Angola and in India.
At a forum on the credit lines of the Exports Import Bank (ExIm) of India to support Angolan business people, Ambassador Sushil Singhal said that two-way trade between Angola and India totalled US%3 billion in 2016, having previously reached higher values, including in 2013 when it totalled US$7.6 billion.
The ambassador announced that Angolan agricultural products have guaranteed free access to the Indian market through the customs exemption scheme available to the Least Developed Countries (LDCs) since 2008 and extended in 2014. (macauhub)