Luanda: The ambassador of China to Angola, Zhang Bin, revealed on Monday that the two countries are set to deepen their economic cooperation and explore new areas of partnership, focusing on artificial intelligence (AI), the digital economy, and renewable energies. This announcement came after Zhang's meeting with Angolan President Joo Louren§o.
According to Angola Press News Agency, Zhang Bin discussed with President Louren§o the achievements within the framework of bilateral cooperation and explored future areas of collaboration. He emphasized the intention to strengthen relations, particularly in the economic and commercial sectors. The Chinese ambassador highlighted investment opportunities in Angola's construction materials, real estate, food and textile industries, as well as the development of industrial parks and manufacturing of vehicle and electronic components.
The ambassador noted the shared vision of both countries in expanding and diversifying bilateral cooperation, with a focus on technological innovation in AI, the digital economy, and new energy sources. He praised the commitment of both nations to enhance their strategic partnership.
Cooperation between Angola and China continues to grow, with projections indicating bilateral trade could reach US$20 billion by 2025. The accumulated stock of Chinese investment in Angola has already surpassed US$27 billion. China remains Angola's principal trading partner, absorbing a significant portion of Angolan exports, primarily crude oil.
As China's second-largest trading partner in Africa, Angola holds strategic importance in the bilateral relationship. The relationship took a significant step forward in March 2024 when President Louren§o and President Xi Jinping elevated the ties to a Comprehensive Strategic Cooperation Partnership, reflecting one of the highest levels of diplomatic relations pursued by Beijing.
Chinese influence in Angola is evident across various sectors, including road and bridge construction, housing, electricity, oil and gas, telecommunications, agriculture, mining, and the development of industrial parks. Financially, China is among Angola's key creditors, with recent debt renegotiations easing the financial burden on Angola.
The focus on high-tech sectors and diversification of economic cooperation are driving this new phase in the Sino-Angolan partnership, as both nations look to leverage technological advancements to bolster their economic ties.
