Spanish Prime Minister’s visit to Angola: a new chapter for Spanish-Angolan investments?
Earlier this month, Pedro Sanchez, the Spanish Prime Minister visited Luanda and participated in several meetings with the Angolan Authorities and economic players.
The visit of the Chief of the Spanish Executive to Angola had as major topic the business opportunities that may arise with the growth of the connection between the two countries. Other topics addressed during the visit were the defense and security areas, as well as the diplomatic cooperation.
It is important to underline that Angola was the first country of the African Tour of the Spanish Prime Minister, demonstrating the importance that Spain is giving to Angola and the will to stretching the bounds between both States.
Regarding economic diplomacy, several agreements and some memorandum of understanding were signed, being one of the more relevant in the air transport area. Additionally, agreements regarding agriculture, industry, and fishing were signed.
As a reminder of the Spanish-Angolan affairs in 2008, Spain conceded a credit line worth 600 million euros and in 2009 a new one worth 500 million euros to increase the exportation between the States. The business volume reached consequently around one billion in 2011 and 750 million in 2010.
Between 2015 to 2019, trade between the two countries was around 2 billion euros/year, demonstrating the strong bond that existed. With this visit Sanchez is trying to inaugurate a new chapter (in the sequence of the Focus Africa 2023 plan) in the economical diplomacy with Angola, trying to rebuild the strength of the last decade.
Source: Further Africa