In 20 years, Angola has risen to be China’s second-biggest African trade partner

In the past two decades, Angola-China trade reached an impressive US$186.6 billion, contributing significantly to both countries’ rapid development.

In 2002, bilateral trade was less than US$150 million, but it surged to well over US$23 billion last year, showcasing remarkable progress.

Over 40 years, their relations have grown considerably, fostering fruitful cooperation, especially in economic and trade sectors.

The ongoing Angola-China Business Forum celebrates its 40th cooperation and diplomatic relations anniversary.

Preliminary data shows over 400 Chinese companies investing more than US$24 billion in various sectors, including agriculture in Angola.

The collaboration in infrastructure has laid a strong foundation for sustainable development, benefiting millions of people through railway, road, housing, school, and hospital projects.

Major projects like the Caculo Cabaça hydroelectric plant and New Luanda International Airport positively impact the national economy and citizens’ lives.

Angola has become China’s second-largest trading partner in Africa and the largest crude oil supplier, while Angolan products have entered the Chinese market.

The FONAC discusses topics such as human capital development, economic diversification, and cooperation agreements between Angolan and Chinese institutions.

More: Angola news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error