Angola-China Chamber of Commerce signs agreement to facilitate business with China

30 May 2018

The Angola-China Chamber of Commerce (CAC) is due in June to sign a partnership agreement with the Sol Turismo Agency to help Angolan businesspeople intending to do business with China, said Vice-President Luís Gomes dos Santos.

Dos Santos also told Angolan newspaper O País that Banco Sol is a CAC member and that the partnership aims to facilitate the acquisition of foreign exchange to cover the expenses of travellers who want to go to China for business.

“The purpose of this agreement is to promote trade relations between the two countries that are currently in decline as a result of the current economic and financial crisis,” said the CAC vice president,

Gomes dos Santos pointed out that the decline in trade between the two countries particularly affects commercial agents who intend to bring goods from China to Angola.

The Angola-China Chamber of Commerce currently has 800 Angolan and 200 Chinese business people as members. The current leadership intends to increase this number to 5,000 in the coming years.

In 2017, trade between Angola and China grew 43.42% to US$22.34 billion, with China buying goods worth US$20.047 billion (up 45.08%) and selling goods in the amount of US$2.297 billion (+30.45%). (macauhub)