[2023-01-12] The trade balance between Angola and China reaches US$30 billion

Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

During the Spring Festival Gala 2023, alluding to the 3rd anniversary of the China Chuan Yu General Association of Entrepreneurs in Angola, the chairman of the Angola-China Chamber of Commerce (CAC), Luís Cupenala noted the permanent growth of trade, stating that by 2022 the volume of trade between the two countries had reached US$30 billion.

Cupenala added that the investments showed consistency in the flow of business between the countries. Luís Cupenala assured that the presence of private investment in the relationship between the two countries is very strong. “We are talking about US$200 million of direct private investment flow from China to Angola in 2021 alone. Therefore, in 2022, in the first ten months, that is, until October, the flow of private investment reached US$295 million,” he clarified.

The partnership between Angola and China, in the chapter on private investment, expects to generate for Angola approximately 40,000 jobs over the next five years, said the chairman of the General Association of Chuan-yu Entrepreneurs in Angola, Zheng Gang.