Angola and Turkey boost trade balance

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Luanda – The President of the Turkish Council for External Economic Relations (DEIK), Nail Olpak, announced Wednesday in Ankara an increase in the trade balance with Angola, estimated at 500 million dollars.

Speaking at the Business Forum between the two countries, Olpak said the trade balance between the two states was $ 178 million, which was lower than desired.

He acknowledged that bilateral trade between Angolans and Turks still did not show the real potential of the two countries, hence the need to boost investments.

“We are going to be responsible for this,” he said, noting that companies in his country have already invested more than $ 800 million in Angola in various projects.

He said he believed the two states could do a lot more in the area of ​​investment.

“We are friends, but bilateral trade does not show our potential,” he said, stressing that the agreements signed on Tuesday, as part of Angolan President João Lourenço’s state visit to Turkey, were very important .

He also requested facilities for obtaining visas for Angola in order to increase the presence of Turkish investors, and expressed his interest in steel exploration.

In turn, Turkish Trade Minister Mehmet Mus said the forum would help consolidate relations with Angola, in particular, and Africa, in general.

He said his country attaches great importance to the African continent, where it had invested, in 2013, a total of 5 billion dollars, which rose to 25 billion dollars in 2021.

He said Turkish construction companies had already invested $ 70 billion in projects in Africa, underscoring his country’s willingness to continue boosting trade with Angola.

Considering the potential existing in Angola and Turkey, he said he believed the two countries would achieve the new goals in a very short time, and welcomed the Angolan president’s invitation to his Turkish counterpart to visit the country.

He expressed the wish of his country’s businessmen to invest in the construction of hospitals, ports, roads and airports in Angola, which he said would be facilitated by the start of direct flights from Turkish Airlines to Luanda.

In turn, the Angolan Minister of Transport, Ricardo de Abreu, declared, in response to questions from Turkish businessmen, that Angola was interested in the development of the naval industry and regretted that he did not there is nothing concrete in this area.

He announced that a project is currently under development for the region of Porto Amboim, in the province of Cuanza Sul, where it is planned to create a maritime and port infrastructure.

This, he said, would focus on developing naval capability, for maintenance and construction. “We have all the interests and are fully available,” he told dozens of Turkish businessmen attending the business forum.

Also present at the event, the Minister of State for Economic Coordination, Manuel Nunes Júnior, noted that Angola’s main objective is to create an economy that develops in a sustainable and sustained manner, or in other words, which does not depend solely on exports.

However, he said the country needs to create infrastructure to ensure development with the efficiency of private investments, and noted that Turkish bank Exin has announced a line of financing to help Turkish investors in Angola.

“This is a very important element, because it will make life easier for Turkish businessmen in their investments in Angola, in this area of ​​infrastructure, and will help ensure that the country has the conditions necessary for regular private investment”, did he declare.

According to the Minister of State, public enterprises are welcome in this area, not only in the creation of infrastructure, but also in others related to the creation of goods and services.

The Angola-Turkey Business Forum was one of the highlights of the working day of President João Lourenço, who worked for two days with the Turkish authorities, with a view to relaunching cooperation and identifying new strategic partnerships. .


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