Italy – Angola
The current commercial exchange between Italy and Angola is around 280 million euros, after the Covid-19 pandemic. The Italian exports grew in 2021 by 47.7%, according to the ICE/ITA – Italian Trade Agency. On the other hand, Angolan exports are around 120 million euros yet, the main sector of reference remains the gas-oil industry.
Angola introduced a process of economic reforms, incentivised by the executive government, to give the private sector the possibility of managing the state assets as part of the privatization program, “PROPRIV”.
This April, the Minister of Foreign Affairs and International Cooperation and the Ministry of Oil, Gas and Mining Resources have signed a declaration of intentions that will allow the start of new initiatives and projects to deepen the cooperation between the two countries. The common aim is to diversify sources of supply and amoliorate the energy transition process.
In addition, the purpose of this liason is to encourage commercial exchanges in different key sectors including: agro-food, health and education.
The training of qualified local labor and a higher level socio-health structure is vital to guarantee the efficiency of foreign investments.
Maritime and shipping agencies as Frabemar are key actors in the development of such advancements.