Brazil-Angola trade reaches US$1 billion in 2017

13 September 2018

Two-way trade between Angola and Brazil reached around US$1 billion in 2017, the Brazilian ambassador to Angola, Paulino Franco de Carvalho Neto, said on Wednesday in Luanda.

The ambassador added that last yeartrade had increased, given that bilateral trade in 2016 amounted to US$650 million, according to Angolan state news agency Angop.

Carvalho Neto, on the sidelines of the economic forum on “Development of Agro business, Challenges and Perspectives” hosted by the Association of Brazilian Businesspeople and Executives in Angola (Aebran), noted that much of what Brazil exported to Angola was sugar (28.7%), chicken meat (14%) and grain flour (7.9%).

He said that from January to July this year, Brazil ranked fourth on the list of the largest exporters to Angola, with sales of US$225 million and added that in the last 15 years his country has invested US$4 billion in Angola.

The ambassador also recalled the US$2 billion credit facility opened to Angola by his country through the National Economic and Social Development Bank (BNDES), whose credit insurance is guaranteed by the Brazilian government.

The president of Aebran, Arlete Lins, said at the meeting that Brazilian experience in agribusiness can help Angola a lot because the country has proven experience in this field.

The businesswoman stressed that there is a lot of room for cooperation, exchange of knowledge and investment and that development, “will no longer be based on generators and diesel, but on renewable energy and a lot of technology.”

The economic forum is included in the Week of Brazil and aims to promote meetings between entrepreneurs, public and private institutions, guests and the public by addressing topics of general interest. (macauhub)