Luanda – Trade between Angola and Italy totalled USD 400 million in 2021, which represents an increase of over USD 100 million compared to the same period of the previous year.
According to the vice-president of the Angola-Italy Chamber of Commerce and Industry (CCIAI), Hélder Cardoso of the total amount USD 280 million comes from oil export from Angola to Italy, while 180 million correspond to imports of agricultural and manufacturing equipment from Angola to this European country.
Talking to the press in the scope of the Angola and Italy Business Forum that took place Tuesday, in Luanda, the official said that it was envisaged to strengthen economic cooperation between the two countries aiming to diversify Angolan exports.
Although considering positive the ongoing macro-economic reforms in Angola, Hélder Cardoso appealed to the need to turn the lack of qualified technicians into great opportunities in order to attract investment into the field of cadres training.
On his turn, the person in charge of the internationalisation of Italian companies, Andrea Penzo, expressed the interest of Italian businesspeople to invest in Angola due to the existence of a favourable business environment in the country.
The official added that, for this purpose CCIAI brought to the forum seven Italian companies in a total of 10 so that they can have assessments with the Angolan businesspeople and project the implementation of Italian investments in Angola.
Without revealing the amount available to invest in the country, the director of the Export Trade Solutions company, pointed to the sectors of education, manufacturing, agribusiness, renewable energy and oil, plus gas as priority areas for Italian
businesspeople in Angola.
He hoped that the investments would take place in 2023, taking into account the preliminary studies already carried out by the companies, which have the support of the CCIAI and the embassies of both countries.
At the time, the ambassador of Italy to Angola, Cristiano Gallo, said that the political and social stability, as well as macro-economic reforms outlined by the Angolan government as key points to stimulate Italian companies to invest in Angola.
The Angola and Italy Business Forum, under the motto “Angola, privileged destiny for Italian investment”, is the continuation of the Forum held in May this year, in Milan, Italy.
Created on 1 October 2018, the Angola-Italy Chamber of Commerce and Industry (CCIAI) has close to 120 members (companies operating in various social and economic sectors).
Bilateral relations between both countries began in 1977, with Italy being the first European country to recognize Angola’s Independence, achieved in 19175.
Source: Angola Press News Agency