Luanda – The US Special Envoy and Coordinator for International Energy Affairs, Amos Hochstein, on Wednesday encouraged the reforms being carried out by the Angolan government, having considered the country crucial in view of its economic potential.
Speaking to the press at the end of an audience granted by Angolan President, João Lourenço, the senior US official stressed the role of the Angolan President in the reforms underway in the country and the economic diversification process.
Amos Hochstein underscored that the current energy transition that the world is experiencing is also an opportunity for Africa and Angola to be part of it.
He stressed the importance of the Lobito Corridor (Benguela Province), having considered it a “very important” infrastructure connecting some of Angola’s neighbouring countries without access to the sea.
The Lobito Corridor is made up of the Port of Lobito and the Benguela Railway.
The corridor is the fastest export route for copper, cobalt and other minerals to countries such as Zambia and the Democratic Republic of the Congo.
In terms of other regional issues, Hochstein said his country is very grateful for President Lourenço’s involvement in the pacification and stability process of the Great Lakes region.
The US envoy added that the meeting with the Angolan President served to discuss issues linked to ongoing investment by US companies in Angola and Southern and Central Africa.
Amos Hochstein underlined that the U.S/Angola collaboration is excellent and will continue and that this is the sort of partnership sought by the US President, specifically in the security, economy and trade sectors for the development of Angola and the region.
The senior US official is touring the continent to consolidate decisions from the US-Africa Summit held last December in the US capital, Washington.
Angola-US relations
Angola and the United States of America established formal diplomatic relations in 1993. The energy sector is at the centre of the economic relations between both countries.
The American Export and Import Bank has a line of credit to support exports from the US to Angola.
The United States-Angola Chamber of Commerce is dedicated to promoting trade and investment between the two countries.
Fighting corruption
The US supports Angola in the fight against corruption through various initiatives, including the Treasury Department’s programme launched in March 2019 to enhance the country’s capacity to implement the anti-money laundering and counter terrorist financing (AML/CFT) regime.
Economic cooperation
American companies have investments in Angola, especially in the energy sector, such as ExxonMobil, Halliburton, Baker Hughes, Caterpillar, Chevron, Cummins, TechnipFMC and Tidewater.
In 2019, a consortium led by Chevron announced plans to invest more than 2 billion US dollars in new offshore natural gas fields exploitation and increase production from existing fields.
The US Export and Import Bank signed a Memorandum of Understanding with Angola in April 2019 to explore guarantees of up to 4 billion US dollars in support of US exports to the African country.
Source: Angola Press News Agency
