The governments of Angola and China want to broaden and accelerate bilateral cooperation in the economic, technical and commercial sectors, with a focus on the socio-economic development of Angola and the improvement of the living conditions of its people. A document to this effect was signed on Wednesday in Luanda.
The Verbal Process, which establishes the guidelines for increasing bilateral cooperation, was signed by the Secretary of State for International Cooperation and Angolan Communities, Domingos Vieira Lopes, and the Deputy Minister of Trade of the People’s Republic of China, Qian Keming. .
After stating that the legal document also aims to implement the agreements between the two heads of state and the China-Africa cooperation actions, the deputy minister stressed that the results of bilateral economic and trade cooperation “are encouraging” and added that Angola remains the second main destination for Chinese investment in Africa.
“Direct investment by Chinese companies in Angola exceeds US$12 billion, which encourages other investors to focus on this country,” said Qian Keming at the end of the meeting of the Angola-China Joint Commission for Economic and Trade Cooperation.
The Secretary of State for International Cooperation and Angolan Communities, Domingos Vieira Lopes, said that the 6th session of the Joint Commission symbolises the beginning of another cycle in the bilateral relationship.
China remains the main destination for Angolan oil, absorbing 61.56% of exports in the second quarter of 2019, followed by India with 11.05% and Spain with 3.80%. (Macauhub)