Angola signs MoU with China-Africa industrial park to boost trade ties

The Chamber of Commerce and Industry of Angola (CCIA) has signed a memorandum with the China-Africa Economic and Trade Cooperation Innovation Demonstration Park to strengthen economic cooperation, technology transfer and investment promotion.

Speaking at the signing ceremony via a video conference on Wednesday, Vicente Soares, chairman of the CCIA said, “This partnership, which starts today, aims at transferring technology, exchanging experience, training and promoting trade, with the intention of promoting the export of products from Angola to China.”

This agreement will help attract Chinese investors and import competitive Chinese products to Angola, as well as export Angolan products such as manioc and bananas to one of the world’s largest consumer markets, he said.

The China-Africa Economic and Trade Cooperation Innovation Demonstration Park, an innovative project in the China (Hunan) Pilot Free Trade Zone located in Changsha, capital city of China’s Hunan Province, is “an extremely important” platform for the exhibition of various Chinese products, said Soares.

“The Chinese market is opening up to Angola and our companies should take advantage of this moment to explore and identify products that attract consumption in China,” he said.

Li Xinqiu, deputy director of the Department of Commerce of Hunan Province in China, expressed his hope that the memorandum will contribute to sharing business opportunities between the CCIA and the China-Africa Economic and Trade Cooperation Innovation Demonstration Park to achieve an advantageous development for both parties.

“The China-Africa Economic and Trade Cooperation Innovation Demonstration Park is a national platform in Hunan that focuses on building an African center for the distribution and processing of products and flow of people for cooperation with Africa,” he said.

Xinhua