China wants to deepen economic cooperation with Angola

26 April 2019

China wants to deepen economic cooperation with Angola, going beyond the traditional model of granting oil-backed credit lines, the new Chinese ambassador to Angola said on Thursday in Luanda.

Gong Tao, who has been in Angola for a month and last week presented his credentials to the President of the Republic, said that his country really wants to expand bilateral cooperation to more sectors, according to the Angolan news agency.

“The current government of Angola is seeking to diversify the economy through measures favourable to attracting foreign investment in order to develop both industry and agriculture,” said the ambassador.

At the end of a meeting with the chair of the Committee on Foreign Affairs, International Cooperation and Angolan Communities Abroad of the National Assembly, Josefina Diakité, Gong Tao

announced that Chinese businesspeople are expected to travel to Angola in the near future to analyse new investment channels.

Trade between Angola and China reached US$27.755 billion in 2018, with China remaining the main trading partner of Angola and the largest importer of Angolan oil. (Macauhub)