Beijing - Angola and China will take another step towards the consolidation of their bilateral cooperation, with the three-day state visit the Southern African nation’s president João Lourenço is paying this week to that Asian country.
During the three-day visit the Angolan head of state will focus on deepening economic and business relations, which are intended to be more "vibrant".
With this visit, the two countries will have the chance to evaluate the effectiveness of existing agreements and plan new areas of investment, particularly involving the private sector.
During the three-day visit, the highlight will be a meeting with President Xi Jinping on the first day to discuss the future strategy of bilateral relations.
João Lourenço's vast program in China includes participation in a business forum, where the topic of investment in Angola will be at the centre of the debate.
With a stock valued at 18.4 billion dollars, corresponding to 37.27 percent of Angola's total external public debt (valued at around 49.3 billion dollars until the third quarter of 2023), China remains Angola's biggest creditor, despite the government's efforts to reduce the debt with the 'Asian giant.
João Lourenço's visit to China is a new window open to attracting new Chinese investors, who can take advantage of the improved business environment in Angola to diversify their investments.
With this visit the two countries are expected to find platforms for understanding that are adjusted to the reality of their respective peoples, capable of providing mutual advantages and diversifying existing cooperation.
The cooperation between the two countries has its legal framework based on a General Agreement that operates in the most varied areas of the country's economic and social life, with a strong presence in the areas of Staff Training, in the case of the construction and equipping of the Integrated Technological Training Centre and the Venâncio de Moura Diplomatic Academy and scholarships for young Angolans.
Angola and China are strategic partners, with political-diplomatic relations and co-operation that have grown significantly since 2000, leading to the signing of various legal instruments in the social, commercial and business fields.
Since 2007, Angola has been China's largest trading partner in Africa, with a turnover totaling 24.8 billion US dollars in 2010 alone.
In 2018, China approved a new financing line of 2 billion US dollars to Angola.
In 2022, Angola regained its position as China's second largest partner in Africa, which it lost in 2020. Trade between the two countries totaled more than 22 billion US dollars from January to November 2022.
This volume represents an increase of over 26 percent compared to the same period last year, according to China's Embassy in Angola.
The Chinese diplomatic mission emphasized that in 2022 Angolan exports to China were more diversified than in previous years, in addition to oil, the country exported coffee, fruit, metallic minerals and ornamental rocks.
According to figures, Chinese companies have built around 3,000 kilometres of railway in Angola, 20,000 kilometres of road, 100,000 social housing units, 100 schools, 50 hospitals and much more.
China has actively supported Angola's development and provided assistance through various donation projects, such as CINFOTEC Huambo, the Luanda General Hospital, the Agricultural Technology Demonstration Centre in Mazozo and the Venâncio de Moura Diplomatic Academy".
China has organized training for more than 3,000 Angolan officials in commerce, agriculture, health, media and the police, sent five medical teams, made up of 70 doctors, who have received almost 400,000 Angolan patients, provided hundreds of scholarships for Angolans, and helped train talented young people in various industries. FMA/VIC/DAN/AMP
