Sino-Portuguese to boost economic growth in Angola

The just-concluded 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries in Macau is to boost economic growth in Angola and further promote trade and economic ties between China and the African country.

The Angolan government sent an all-powerful delegation headed by Economic Minister Abrahao Gourgel to the Macau conference, grouping nine cabinet ministers and dozens of Angolan entrepreneurs.

Gourgel signed a new technical and economic agreement with Chinese Minister of Commerce Gao Hucheng on the side-lines of the ministerial meeting.

Gourgel said the agreement would encourage more direct investments from the Chinese private sector alongside public companies into Angola.

The minister said in Macau that his government also hoped to sign an investment protection agreement with China following a Sino-Angolan investment forum scheduled for November in Luanda.

Angolan Ambassador to China Joao Garcia Bires said that cooperation with China is of vital importance.

Bires said the Forum serves as a platform to promote understanding and business ties between the two sides. It is also expected to promote trade and economic relations between China and Angola on bilateral basis.

The ambassador said Angola is China’s second largest trade partner in Africa, and he is optimistic about trade and economic ties between the two countries despite the drop of bilateral trade volume as a result of falling international oil prices.

“Sino-Angolan trade volume would be restored to its original level and the crisis was only transitional as China continued to support the basic infrastructure construction in Angola, which was also taking measures to safeguard its political and social stabilities,” the envoy said.

The forum was also attended by representatives of over 20 Chinese companies operating in Angola.

Attending the forum, Zheng Gang, Vice President of the Association of Chinese Private Enterprises in Africa, said the ministerial meeting announced 18 new measures to promote China’s cooperation with Portuguese-speaking countries in manufacturing, personnel training and development programs.

These are expected to encourage more Chinese enterprises, particularly private companies, to move into Angola and other Portuguese-speaking countries, Zheng said.

Xinhua/Zainab Sa’id