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Angolan President’s visit to China described as a success

Luanda, Mar 17 (Prensa Latina) The Angolan Foreign Minister, Tete Antonio, today described as successful the visit to China of President João Lourenço, which introduces a paradigm change in the relationship between the two countries.

In statements to the Angolan press, the foreign minister remarked that the ties between the two nations are strategic and from this trip (March 15-17) they have reached a global dimension.

This refers to the change of paradigm, he explained, since there was previously a predominance of public investment, but on this occasion we have achieved a greater commitment of private investment, which does not bring debts to the country and offers opportunities for both parties.

Antonio highlighted the signing of 13 agreements that consolidate the cooperation relationship with China, among them those related to investment, agriculture, trade, education, communication and new technologies, culture and sports.

He described as a rich experience all the exchange with the Chinese institutions and businessmen and highlighted the acceptance, by Chinese President Xi Jinping, of the invitation to visit Angola.

Meanwhile, the Angolan Head of State pledged to participate in the next edition of the forum on cooperation with Africa organized by Beijing.

The Minister of State for Economic Coordination, Jose de Lima Massano, remarked that the main objectives of the trip had been achieved and that it was now time to implement the agreements.

In particular, he commented on the importance of the negotiations with the China Development Bank, Angola’s main creditor, with which they were able to agree on repayment mechanisms that constitute debt relief.

He detailed that the payment schedule was not altered, but the guarantee reserve to be paid was lowered, thus enabling the country to release around US$ 200 to 250 million on a monthly basis.

This will allow improving the execution of the State budget and also the capacity to feed the exchange market with resources for the importation of goods and services demanded by the economy.