Chinese President Xi Jinping and President of the Republic of Angola Joao Lourenco, announced the elevation of bilateral ties to a comprehensive strategic cooperative partnership, after talks in China.
Noting that China and Angola jointly celebrated the 40th anniversary of the establishment of diplomatic relations last year, Xi said relations between the two countries have stood the test of international vicissitudes and benefited the two peoples.
China is willing to strengthen exchanges of governance experience with Angola, upgrade bilateral strategic relations, and jointly promote the modernization process of each country, Xi noted.
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He stressed that cooperation between China and Angola enjoys a sound foundation, large scale and high complementarity, endowing huge potential and bright prospects for mutually beneficial cooperation. The two sides should advance high-quality Belt and Road cooperation, synergize their development strategies, and improve the quality and effectiveness of their pragmatic cooperation.
China is ready to work with the Angolan side to implement key infrastructure projects, support competent Chinese enterprises to carry out various forms of cooperation in Angola, and help the country advance agricultural modernization, industrialization and economic diversification, Xi said.
It is hoped that Angola will take more effective measures to ensure the legitimate rights, interests and safety of Chinese citizens and enterprises, Xi said, adding that Angola is welcome to introduce more quality products to China through platforms such as the China International Import Expo and China-Africa Economic and Trade Expo. China will continue to send medical teams to Angola and implement other projects, provide scholarships to Angolan students, and enhance people-to-people exchanges and friendship, he said.
Lourenco said that China was the first country to provide valuable support both when Angola was reeling from its civil war and struggling with the COVID-19 pandemic, and expressed his heartfelt gratitude.
“China’s support and cooperation have greatly promoted Angola’s infrastructure construction and economic and social development, setting a good example of mutually beneficial cooperation,” Lourenco added.
The Angolan side welcomes more Chinese enterprises to invest in Angola to help its national development and revitalization, the president said. Angola firmly adheres to the one-China principle and holds that Taiwan is an inalienable part of China, he added.
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After the talks, the two heads of state jointly witnessed the signing of a number of bilateral cooperation documents regarding the Belt and Road cooperation plan, economy and trade, agriculture, green development and other fields.
China has a vested interest in Angola’s quest to overhaul its economy because Luanda owes Chinese creditors just under USD 21 billion, World Bank data shows.
Lourenco, who is accompanied on this visit by his agriculture minister, needs funds to implement structural reforms to cut its reliance on oil, as Luanda does not have enough non-oil revenue sources to finance its transition.
In December, China and Angola signed an investment protection agreement, while Angolan firms from Dec. 25 have had tariff-free access to China’s massive consumer market across 98% of goods under a separate agreement.
Chinese firms have invested close to USD 12 billion in Angola since it joined China’s Belt and Road Initiative in 2014, data from the American Enterprise Institute think tank shows, just under half of which went into the country’s energy sector.
