The UAE and Angola have signed an agreement to establish the UAE-Angola Business Council, in a move aimed at strengthening economic relations and expanding investment opportunities.
The agreement was inked days after President His Highness Sheikh Mohamed bin Zayed Al Nahyan visited the country and held talks with his Angolan counterpart João Manuel Lourenço.
The memorandum was signed by Abdallah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of SCCI, together with Vicente Soares, President of the Chamber of Commerce of Angola.
Al Owais said the Council will adopt a structured approach to initiating diverse commercial and promotional programmes in priority economic sectors identified under the joint cooperation agenda.
The agreement also aims to facilitate organising joint exhibitions, conferences and reciprocal trade missions.
Since the establishment of diplomatic relations in 1997, ties between the two countries have witnessed steady growth, highlighting a significant aspect of the UAE’s growing partnership with the African continent.
The UAE’s non-oil trade with Angola reached $2.2 billion in 2024, marking a growth of 36.3 per cent compared to 2019.
Economic relations have advanced significantly since 2021, when several memoranda were exchanged, including a cooperation deal between Abu Dhabi Future Energy Company (Masdar) and Angola’s Ministry of Energy and Water to explore the development of solar energy and storage projects, and agreement between Presight and the Government of Angola on digital transformation.
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