Angola-United Arab Emirates (UAE) trade chamber introduced on Tuesday an action plan to increase commercial exchanges between the two nations and improve balance of payments.
The emergence of the trade chamber is expected to lure more investors from UAE and promote trade exchange of mutual benefit for the two nations, Vando Matias, the coordinator of the trade commission, has said.
Angola exports only diamond to UAE, whose trend the African country is seeking to reverse, since the trade chamber intends to play a key role in the list of products to be selected for export by the government, the source said.
The trade chamber will also seek to attract direct investment from UAE and promote export of agricultural products, timber, marble and granite to this Asian country.
The chamber’s coordinator, who did not add the full number, said UAE business people interest to invest in Angola has increased, which could positively influence Angolan exports to this nation.
UAE has invested in the manufacturing of agricultural tools in Angola, while further study for investments in agriculture sector is still being conducted.
Angola unveiled a diplomatic representation in Abu Dhabi in 2004, while UAE opened its representation in 2016 in Luanda, the African nation has also established an office in Dubai, with view to facilitate information and communication between business people of both nations. Enditem