China was the first country to extend aid to Angola in the wake of its civil war in the early 2000s, though their relationship goes back even further.
Gong Tao
Gong Tao listed inadequate protection from natural disasters and ageing infrastructure among the challenges faced by Chinese investors.
The funds will be managed by the African Development Bank (AfDB), which will provide additional financing for the project in Benguela province.
Gong Tao’s remarks, made to Angolan President João Lourenço, appear to quash suggestions that Beijing is reducing the importance it places on ties with Luanda.
Beijing continues to regard Luanda as a valuable regional partner and investments will pick up pace.
Tariff-free agricultural exports and public-private business forum also under discussion; Angola’s debt to China stands at US$20 billion.
Ambassador Gong Tao says China remains interested in consolidating strategic cooperation with Angola in the production sector and in carrying out investments.
Figures for this year equally promising, having reached US$14.42 billion by end of June; oil and ornamental stones head Angolan exports.
Bilateral trade already valued at more than US$23 billion; Chinese firms mull rail, port, metro and other infrastructure projects in African republic.
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