Angola and Qatar have taken a significant step towards strengthening bilateral trade and investment by signing a Memorandum of Cooperation between their respective Chambers of Commerce and Industry.
The agreement, signed in Doha on Saturday, aims to facilitate business partnerships, information exchange, and the operationalisation of the Angola-Qatar Business Council.
Enhancing Economic Diversification and Investment Opportunities
The President of the Angolan Chamber of Commerce and Industry, Vicente Soares, emphasised that this memorandum serves as a strategic vehicle for building sustainable partnerships, which will contribute to the diversification of Angola’s economy. He highlighted that stronger trade ties between the two nations will unlock new investment opportunities and promote mutual economic development. Soares also extended an invitation to Qatari businesses to visit Angola and explore its investment potential.
Qatar Eyes Expansion of Trade with Angola
Rashid Bin Hamad Al Athba, Vice President of the Qatar Chamber of Commerce and Industry, reiterated Qatar’s commitment to working closely with Angola to expand trade and investment relations. Despite the existing potential for growth, he acknowledged that the current business volume remains below expectations.
To accelerate engagement, Qatar is planning to send a delegation of 50 businesspeople to Angola. Al Athba urged Angola’s business community to facilitate this mission by ensuring the necessary conditions are in place to foster trade and investment cooperation.
Key Sectors for Collaboration
The memorandum outlines strategic areas of cooperation, including:
• Mineral Resources
• Infrastructure Development
• Tourism
• Agriculture
• Industry
• Trade
By aligning their economic diversification strategies, Angola and Qatar seek to create a more conducive environment for foreign investments and trade partnerships, benefiting businesses in both nations.
This agreement marks a new chapter in Angola-Qatar economic relations, paving the way for increased commercial engagement and stronger economic ties in the coming years.
Further Africa
