Beijing - The chairman of the Angola-China Chamber of Commerce (CAC), Luís Cupenala, said Wednesday in Beijing that Angola continues to be an attractive country for Chinese investors, especially in this new era of cooperation.
Speaking to the press as part of the President João Lourenço's visit to China, Cupenala said trade between the two states totaled more than 27 billion US dollars in 2022.
According to Cupenala, during the period in question China invested more than 23 billion dollars in oil exports, while Angola spent more than four billion dollars importing various products from that country.
Cupenala said the Angolan President's visit to the "Asian giant" will help strengthen trade and increase the mobilization of foreign investment, especially in agriculture.
"The ratification of the Agreement for the Protection and Promotion of Private Investment will guarantee the security of investments," he said, stressing that this visit will create a space for revitalizing the friendship between the two states.
He said that as part of the Angolan Head of State's visit, the Chamber of Commerce has sent a delegation representing 10 Angolan companies to take part in the Angola-China Forum to be held on March 16.
President João Lourenço's visit, which runs from Friday to Sunday, is a meeting with his Chinese counterpart, Xi Jinping, on the first day, to discuss the future strategy of bilateral relations.
The Angolan leader is also scheduled to meet with the Chinese prime minister, Li Qiang, and the chairperson of the National People's Assembly (Parliament), Zhao Leji.
A joint statement is due to be released following João Lourenço's talks with the highest authorities in the People's Republic of China.
The Angolan President will follow a wide-ranging program, including participation in a business forum, with the topic of investment in Angola at the centre of the debates.
The agenda includes talks with Chinese business people operating in Angola market or seeking to join it and meeting with representatives of the Angolan community in China.
The last day of the visit will be in Shandong province, where João Lourenço will be in contact with people in charge of the productive sectors in the textile, pharmaceutical and agricultural industries.
Data show that over the last 13 years China became one of the countries that invested the most in restructuring and building infrastructure in Angola, which has allowed the movement of people and goods and aided its economy.
Since the reconstruction and construction of Angola's development infrastructures began in 2002, the trade balance between the two states has totaled 150 million dollars. Twenty years later, China became Angola's biggest creditor. FMA/VIC/DAN/AMP
