Trade between Angola and the Democratic Republic of Congo (DRC) witnessed remarkable growth, exceeding $100 million in 2022, as announced at the 2nd Angola Economic Forum – DRC in Luanda.
The Minister of Industry and Commerce, Rui Miguêns, presented the data, highlighting the increase from $46 million, along with a rise in imports from $2.5 million to $10 million during the same period.
Despite acknowledging some unaccounted transactions, Minister Rui Miguêns believes Angola’s official trade balance with the DRC currently favors Angola.
He emphasized the need for transactions to represent both goods and financial flows transparently in monetary systems.
The event, attended by a massive Congolese delegation, aimed at unlocking the economic potential of both states, transforming potential wealth into tangible socioeconomic impact.
Minister Mário Caetano João stressed the importance of institutional and business training, resilient human capital, and a committed financial system for development.
Deputy Prime Minister and Minister of National Economy of the DRC, Vital Kamerhe Lwa Kanyiginyi Nkingi, urged Angola’s active contribution to global economic growth, citing the commitment between the two Heads of State.
Minister António Francisco de Assis highlighted the need for better-organized trade to maximize the advantages of the substantial arable land shared by Angola and the DRC.
He called for increased investment in the agricultural sector to exploit opportunities and address cereal import needs on the continent.
The governments agreed to facilitate visa processes for economic operators at border posts, reflecting a commitment to implementing existing trade agreements.
The “Luanda Declaration and Final Communiqué” signed by both parties outlines 15 intentions, focusing on improving competitiveness, protecting emerging industries, and streamlining cross-border trade.
The Forum’s final outcome includes real-time information sharing and collaboration to combat fraud, smuggling, and enhance the supply chain for regional and international trade.
