Angola is pursuing improved cooperation with Egypt as the country looks at strengthening trade and investment within the energy, industry and commercial sub-sectors.
Leveraging Egypt’s expertise, particularly within oil, gas, renewable energy and industrial engineering, the southern African country has prioritized foreign investment, intra-African trade and economic diversification.
Speaking during the opening of an economic forum between the two countries this month, Angola’s ambassador to Egypt, Nelson Manuel Cosme, emphasized that the country is officially open to foreign investment.
The ambassador stated that, “We will continue to promote joint actions to attract investments, favor other sectors such as renewable energy, textiles, agriculture, oil and gas. Angola is seeking international partnerships to address the need for economic and social stability. Only with the help of the business class, particularly foreign business, can we achieve that goal.”
Meanwhile, H.E. Domingos Custódio Vieira Lopes, Angola’s Secretary for State for International Cooperation and Communities, highlighted the Angolan government’s commitment to boosting cooperation, emphasizing that, “Angolan businesspeople should take the opportunity to establish partnerships with reciprocal advantages, which will make it possible to increase trade between the two countries.”
According to H.E. Lopes, in addition to knowledge sharing within the energy industry, Angola plans to benefit from Egypt’s advanced industrial engineering scope particularly in the household appliances, automotive components and electrical sector, driving economic diversification and positioning the country as a competitive multi-market economy.
