President João Lourenço arrives in China today for a three-day state visit – the second such visit from the Angolan leader. He will meet with President Xi Jinping and other top Chinese officials as the two nations seek to build more “vibrant” relations.
The two countries will also take the opportunity to evaluate the effectiveness of existing agreements and plan new areas of investment, particularly within the private sector.
Besides meeting President Xi, Premier Li Qiang and chairman of the National People’s Congress Standing Committee Zhao Leji, Lourenço will participate in a business forum centred on investment in Angola.
[See more: Beijing’s debt freeze has doubled Angola’s interest payments]
Last year marked the 40th anniversary of Angola-China bilateral relations and cooperation has grown significantly since 2000. Angola has been among China’s top trade partners in Africa, taking the number one spot multiple times.
Chinese enterprises have meanwhile built around 3,000 kilometres of railway, 20,000 kilometres of road, 100,000 social housing units, 100 schools, 50 hospitals and much more in Angola.
At the same time, Beijing also carries more than a third of Angola’s external public debt, valued at US$18.4 billion, and is Angola’s largest creditor. Analysts believe the topic of repayment will be “unavoidable” during the visit, as Lourenço seeks to renegotiate existing debt obligations while also drawing new investment to fuel Angola’s development.
