China pjedges to belp Angola indive sifying eXPortsin bial trade
Visiting Chinese Vice Minister of Commerce ZhongShan said here on Jan. 13 that China would help Angolain diversifying its exports to China as part of the efForts toboost trade relations between the two countries.
Zhong made the pledge during his meeting with An-golan Minister of Trade Maria Idalina Valente to exploreways of further expanding trade and economic ties betweenthe two countries.
Zhong said China has attached importance to develop-ing ties with Angola, the largest trading partner of China inAfrica, and the 2010 visit to Angola by Chinese Vice Presi-dent Xrjinping brought Sino-Angolan ties to new highs.
The Chinese ofiicial said crude oil was almost the soleproduct ofAngola which ended up in Chinese markets de-spite the fact that trade volume between the two countriesamounted to some 25 billion U.S. dollars in 2010, and theChinese government has decided to reduce or waive tar-iffs on Angolan exports to China from January 1, 2011 toencourage Angolan businessmen to export more productsto China, including agricultural produces, fish and othermarine prod-ucts and dia-monds.Zhongsaid Chinaand Angolahave madesubstantialprogress inbilateral co-operation inthre fields ofenergy, basicinfrastruc-tures and agriculture, and the Chinese government has en-couraged Chinese enterprises to invest in Angola and make technological transfers to the African country as well.
For her part, Maria Idalina Valente said Angola wel-comed China´s proposal to expand bilateral trade and eco-nomic cooperation on the basis ofthe strategic partnershipshammered out during Xijinping´s visit to Angola.
The Angolan minister said the biggest challenge faced by her government is to diversify its oil-dependent economyand to build up industrial and manufacturing capabilities in the national economy.
She said Angola is trying to improve its investmentconditions and hopes to reach an agreement with China onthe protection ofinvestments by the year 2012.