Luanda — Trade cooperation between Angola and South Africa, valued at US$29.6 million is below its real potential, the executive director of the Private Investment and Export Promotion Agency (AIPEX), José Sala, said Tuesday in Luanda.
José Sala added thar the two states have the potential to stimulate economic growth and promote regional development, creating more jobs for their citizens.
Speaking to the press on the sidelines of the Angola-South Africa Business Forum, the AIPEX administrator said that the South African investment, valued at US$29.6 million, is the result of seven projects, of which five in the area of service provision, one in the manufacturing sector and another in agro-industry.
In the view of José Sala, Angola and South Africa should cooperate on a basis of complementarity, with gains for both sides to strengthen the economic and social development of both States.
The AIPEX administrator highlighted that Angola is an important producer of oil, natural gas, diamonds and other natural resources, while South Africa has a robust and diversified economy, with a large consumer market, with a developed manufacturing industry.
In this regard, during the 3-day Business Forum, AIPEX, along with national entrepreneurs, will present to the South African business delegation the areas of greatest investment opportunities in Angola, with particular emphasis on manufacturing, agribusiness, fisheries, health and education sectors.
José Sala suggested that the governments and companies of the two countries need to work together to facilitate trade and investment, which also includes improving infrastructure and establishing more cooperation agreements.
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At the event, Angola - South Africa Chamber of Commerce representative, Paula Xavier, reported that 26 south-African companies have established business in Angola and have created more than 1,000 jobs.
"Angolan entrepreneurs need to look at South Africa as a great partner, together to make the region economically strong," he said.
Meanwhile, the representative of the South Africa (Wesgro), Tatiana dos Santos, indicated that the South African business delegation is made up of 13 business groups from different segments.
"South African entrepreneurs are attending this business forum to establish partnerships and do business, in order to stimulate trade between the two countries," said the head of the South Africa delegation.
At the event, the South African ambassador in Angola, orpa Ephraim Monareng, considered the relations between the two states, but "the trade balance is still weak and needs to be driven from forums as today".
The representative of the United States Agency for International Development (USAID), William Butterfield, invited Angolan entrepreneurs to export to US through South Africa.
Angola and Africa, members of the Southern African Development Community (SADC), maintain excellent cooperation relations in political, diplomatic, economic and cultural domains.
In recent years, the two states have reinforced bilateral relations with the signing of various commercial agreements, which include cooperation in the oil sector and the suppression of visas in ordinary passports.
OPF/AC/DOJ
