100+ Brazilian Firms Eye Angola
Brazil-Angola trade nears $1.3 billion as new investments and cooperation agreements take shape
Brazil and Angola are working to expand their bilateral trade, with the average annual trade balance between the two countries standing at around $1.3 billion. The trade balance is composed of approximately $1 billion in Angolan exports to Brazil, predominantly from the oil sector, and $300 million in Brazilian exports to Angola, focused on animal protein.
The two countries are exploring various areas of cooperation, including trade, investment, and technical cooperation. More than 100 new Brazilian companies have expressed interest in investing in Angola, with some prospecting work and conversations with Angolan authorities already underway.
Angolan investments in Brazil include investments in the agricultural sector and the company Angola Cables, which manages submarine fiber optic cables that guarantee digital interconnection between Africa and the Americas. Additionally, over a thousand Angolan health professionals are undergoing specialized training in Brazil.
Brazilian pharmaceutical companies are also interested in setting up production units in Angola, with a project in an advanced stage in the province of Luanda. The Brazil-Angola Economic Forum, attended by the Minister of Industry and Commerce of Angola, Rui Miguêns de Oliveira, and representatives from the government and business sectors of both nations, was organized by the Association of Brazilian Entrepreneurs in Angola (AEBRAN).
## Why it matters The expansion of bilateral trade between Brazil and Angola has the potential to boost economic growth and development in both countries. The current trade balance of $1.3 billion is still below the true potential of the two economies, and the influx of new investments from Brazilian companies could help to bridge this gap. The cooperation between the two nations also extends to other areas, such as healthcare and education, with over a thousand Angolan health professionals undergoing training in Brazil.
The Brazilian ambassador to Angola, Eugênia Barthelmess, highlighted the importance of the Brazil-Angola Economic Forum in boosting trade and attracting new investments to both countries. The event represents another step towards strengthening bilateral dialogue and trade relations between the two states, and is expected to play a key role in promoting economic cooperation and development in the region.
