Angola: Spain Supports Exports With 250 Million Euros

Luanda — The President of the Spanish government, Pedro Sanchez, Thursday announced financial support estimated at 250 million Euros to cover exports from the business sector of the Republic of Angola.

Speaking at the Angola-Spain Economic Forum, despite not setting dates, Sanchez gave assurances that the amount would essentially cover exports, within the framework of strategies adopted by the country.

"Angola is a friendly country, so we collaborate and support it. You can count on Spanish companies in the most varied sectors," he said, noting the natural resources available that facilitated the implementation of several agricultural and industrial projects.

As Angola is one of Africa's main export destinations, he noted, his country, which is located on the Iberian Peninsula, advocates diversification of the Angolan economy, as well as oil.

Spain's exports to Angola have grown from 300 million euros, in 2015, to 500 million, in recent years, while in the opposite direction Angola has exported around 1.3 billion euros/year, exceeding the over 200 million, of 2014.

On the other hand, the Kingdom of Spain invested in this Southern African state, US$460 million, between 1990 and 2020, through its businesspeople, as a reflection of a commercial portfolio in permanent growth.

Data obtained by ANGOP, from the Angolan Private Investment and Export Promotion Agency (AIPEX), indicate that the amount was applied in 82 projects, in various segments of the economic sector.

Speaking at the Angola-Spain Economic Forum, despite not setting dates, Sanchez gave assurances that the amount would essentially cover exports, within the framework of strategies adopted by the country.

"Angola is a friendly country, so we collaborate and support it. You can count on Spanish companies in the most varied sectors," he said, noting the natural resources available that facilitated the implementation of several agricultural and industrial projects.

As Angola is one of Africa's main export destinations, he noted, his country, which is located on the Iberian Peninsula, advocates diversification of the Angolan economy, as well as oil.

Spain's exports to Angola have grown from 300 million euros, in 2015, to 500 million, in recent years, while in the opposite direction Angola has exported around 1.3 billion euros/year, exceeding the over 200 million, of 2014.

On the other hand, the Kingdom of Spain invested in this Southern African state, US$460 million, between 1990 and 2020, through its businesspeople, as a reflection of a commercial portfolio in permanent growth.

Data obtained by ANGOP, from the Angolan Private Investment and Export Promotion Agency (AIPEX), indicate that the amount was applied in 82 projects, in various segments of the economic sector.

More From: ANGOP

Don't Miss

AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.