MOE Discusses the Development of Economic and Trade Cooperation with Angola

Business

MOE Discusses the Development of Economic and Trade Cooperation with Angola

H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, recently met with Angolan delegates to review financial and trade teamwork in between their countries. Led by H.E. Manuel Augusto the Ministry of External Relations of Angola, the delegates going to the UAE contained H.E. Diamantino Azevedo, Minister of Oil and Mineral Resources, and senior federal government officials.

Likewise existing throughout the conference were H.E Eng. Mohammed bin Abdul Aziz Al Shehhi Undersecretary of Economic Affairs in the Ministry of Economy; H.E. Juma Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs; Jamal Al Jarwan, Secretary General of the UAE International Investors' Council; and Omar Abdullah bin Ghalib, Deputy Director General at the General Civil Aviation Authority

The two sides tackled ways to boost their collaborations in essential industries such as oil and gas, precious metals, agriculture, civil aviation, and telecommunications, economic, trade, investment, and technical collaborations were bottom lines of discussions as well.

Inning Accordance With H.E. Al Mansoori, the meeting reflected the UAE's global plan to tactically enhance its ties with key African countries such as Angola, one of the region's biggest markets. The non-oil trade relations between the UAE and Angola increased to USD 1.6 billion by the end of 2017, up by 38 per cent from USD 1.15 billion in 2016. The figures suggested the widening ties between both countries during the period.

H.E. stressed the have to create a joint system to enhance legal frameworks designed to promote trade, financial investments, and major aviation-related tasks, adding that the duty of the economic sector need to likewise be emphasized to stimulate lucrative and mutually useful trade and investment tasks.

H.E. took the opportunity to review key policies and initiatives of the UAE Government such as UAE Vision 2021, the economic diversification strategy, and a change towards a sustainable and innovation- and knowledge-driven economy.

Both sides additionally agreed on the value of developing a joint financial board to establish a clear action strategy focusing on key economic areas in the near future.

For his part, H.E. Augusto revealed his nation's purpose to create stronger connections with the UAE, saying that Angola is impressed by the country's pioneering experience in diversifying its economic situation. Angola, he added, would like to gain from the UAE experience here.

H.E. Augusto dealt with enormous economic investment opportunities in Angola during the meeting too, expressing his nation's wish to create durable collaborations with the UAE's economic sector