Luanda — The director of Asturias Institute of Economic Development (Spain), Victor Marroquin, stated that Angola's economy might be transformed into one of the most powerful in the southern Africa region, due to its current economic growth potential.

Speaking to ANGOP in Luanda, last Thursday, Victor Marroquin stressed the fact that Angola has considerable mineral and water resources, which if well used can elevate the level of the country's economic development, particularly in the industry sector.

Taking into account this growth, the official said that the Asturias Institute of Economic Development (Idepa) is already working with the Private Investment National Agency (ANIP), in a partnership with which expects to promote investments.

Victor Marroquin stated that as part of the partnership with ANIP, the two institutions signed Wednesday, in Luanda, a protocol of co-operation to stimulate entrepreneurial contracts that facilitate information on business opportunities.

The trade between Angola and Spain since 2009 is estimated at one billion euros.

Angola's exportation to Europe have grown to USD 600 million euros, while importations from that continent amount to 400 million euros.