The Portugal-Angola Chamber of Commerce and Industry (CCIPA) is organising a meeting in which it intends to bring together entrepreneurs and managers from both countries during this year’s edition of the Luanda International Fair (Filda), which will take place from 10 to 14 July, according to Portuguese newspaper Público.
The meeting is scheduled for 12 July, said the head of the CCIPA João Traça, and is the second one organised by the business association with the motto “relations with a past and future.”
The newspaper noted that the meeting takes place as links between the two countries are being relaunched and that Portugal has had the most expressive foreign representation in Filda, Angola’s largest business event.
Trade relations between Angola and Portugal are experiencing a negative phase.
After a 22-month decline because of the crisis, Angola is facing due to the price of oil, in October 2016 exports of goods to Angola rose again, but this recovery was short-lived, as in September 2017, right after the general elections, a further drop was observed, which has continued until now.
Portugal’s National Statistics Institute(INE) recently released data for March 2018, which shows a 28% drop to 122 million euros (33.6 billion kwanzas) in exports to Angola.
In the first quarter, exports to Angola reached 349 million euros (just over 96 billion kwanzas), which was a drop of 22.4% over the same period of last year. (macauhub)