9 January 2009
Luanda — Trade between Angola and Italy reached Usd 380 million last year (2008), which represents a rise by about 45 percent as compared with the previous year.
This was revealed Friday in Luanda by the Italian ambassador to Angola, Torquato Cardilli.
Speaking to Angop, the diplomat spoke of the existing bilateral relations in the political and economic domains, admitting that trade might reach as much as one billion US Dollars by 2010.
According to the ambassador, in the period in respect, Angola imported from Italy such products as foodstuffs, clothing, furniture and machines, whereas the latter imported from the former imported oil, marble and animal skin.
As to direct investment from Italian companies in the Angolan territory in 2008, Torquato Cardili said the oil firm ENI signed with the local Sonangol a 20-year accord for the former to participate in the exploration and production of gas in northern Zaire province, both on the offshore and onshore.
The diplomat said the accord provides for the construction of a gas central and a new training centre in the oil sector, alike the first Italy built in the country.
With this, the ambassador added, he is convinced this is the best way for a sustained cooperation, as training boost the creation of new jobs and reduces unemployment.
Also in the domain of direct investment, according to the diplomat, 22 Italian companies, with stress to "Inter Inalca" and "Intermarket", which are investing respectively 10 and five million US Dollars since last year.
He said Inter Inalca is investing in the making of cold-storage systems, whereas Intermarket is building a supermarket in Viana.
The ambassador also spoke of the most recent Italian firm operating in Angola, Pamuk, investing in the clothing industry.
According to the website of the Embassy of Italy in Angola, the European country is the 14th importer of Angolan products (oil, ornamental rocks and forest products). It is also the 11st exporter to Angola with a market participation of 2,3 percent.
Be the first to Write a Comment!
Copyright © 2009 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
