Angolan Foreign Minister Téte António and Chinese Commerce Minister Wang Wentao signed the document, which aims to promote increasing economic cooperation and stimulate the flow of capital and economic development.
An Angolan Foreign Ministry note states that the text will also ensure a stable, transparent, and non-discriminatory framework of investments between the two nations.
Signed in Beijing, the Agreement represents an essential political, economic, and commercial gain for Angola and China, António pointed out.
This is the end of 12 years of negotiations between both countries due to several constraints that have been overcome presently, the Angolan foreign minister said during a working meeting with Wentao.
Data released during the 1st edition of the Angola-China Business Forum in Luanda in July 2023 states that the two nations’ trade balance jumped 23.3 percent, reaching 27.34 billion dollars.
Angola is China’s second trading partner in Africa and its largest oil supplier on the continent.
Products, including coffee, beer, and granite, are added to the trade.