The Diplomat
The President of CEOE International, Marta Blanco, met with the new Angolan Ambassador to Spain, Alfredo Dombe, in one of his first visits after the presentation of the Style Copies of their Letters of Credence at the beginning of June.
The meeting served to review the bilateral economic and trade relations between the two countries. Blanco and Dombe highlighted the intense institutional agenda – with recent visits by both Prime Ministers to Madrid and Luanda and a state visit by the King and Queen of Spain to Angola.
In these visits, the business component was very relevant, according to CEOE, which added that, in addition, the two countries have carried out other activities of a business nature, such as the follow-up of the opportunities that have been identified.
“Spain – said a note from the Spanish employers’ association – is grateful for Angola’s trust in Spanish companies for its development, transformation and diversification of production. There are factors such as the country’s growth potential, its membership of the African Continental Free Trade Area (AfCFTA), population growth and urban development, among others, that invite us to strengthen business cooperation for the benefit of both countries.
CEOE wants to collaborate in the achievement of this objective and give Africa in general, and Angola in particular, a preferential place in its international activity.
Angola’s economy has returned to the path of growth in the last two years and the World Bank forecasts that it will continue to increase its GDP in 2023. Bilateral economic relations between Angola and Spain are increasingly close. Proof of this is that, in 2022, bilateral trade between the two countries increased by 1,403 million euros. Specifically, total exports to Angola reached 183 million euros in 2022, 31% more than in 2021, with capital goods and consumer manufactured goods standing out. For their part, total imports from Angola reached 1,985 million, with energy products predominating (98.6%).
Spanish investment in Angola has been increasing until 2021 (the last year with official data), reaching 457 million euros. The sector where most of this investment is concentrated is financial services, with 70% of the total.
