Angola, Nigeria deepen ties for investment, job growth
Cooperation
By Fortune Abang
The governments of Angola and Nigeria are set to deepen bilateral cooperation aimed at generating investments and bolstering job creation through enhanced private sector engagement between both countries.
This was revealed in a statement issued on Monday in Abuja by the Ambassador of Angola to Nigeria, José Zau, ahead of the fifth Meeting of the Angola-Nigeria Bilateral Joint Commission.
The meeting is scheduled to hold on Sept. 9, in Luanda, where both nations will review existing Cooperation Agreements and Memoranda of Understanding (MoUs), and address major economic challenges affecting bilateral relations.
According to Ambassador Zau, no fewer than 20 agreements and Memoranda of Understanding (MoUs) will be updated.
“These will serve as legal frameworks guiding political-diplomatic cooperation between Angola and Nigeria.
“Key areas of focus include defense and security, cyber and digital diplomacy, economy and trade, and the judiciary.
“Other sectors to be covered are culture, air and maritime transport, telecommunications and media, tourism, and visa exemption.”
Zau described the upcoming meeting as a significant turning point in fostering cooperation between Angola and Nigeria.
He highlighted key areas of focus, including free trade, visa exemptions, avoidance of double taxation, extradition and transfer of convicted persons, as well as enhanced maritime security in the Gulf of Guinea.
“Since 2001, the work of this commission has been interrupted, and we are very excited to relaunch this cooperation, with a focus on the hydrocarbon and petrochemical industries,” he said.
He added that other key areas of focus included agribusiness, sustainable tourism, information technology, innovation, and the blue economy, all expected to drive youth employment and support private sector growth in both countries.
Delegations led by the Secretary of State for International Cooperation of Angola’s Ministry of External Relations (MIREX), Domingos Lopes, and Nigeria’s Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, are expected to attend the meeting.
During the event, two twinning agreements will also be formalised between the Angolan provinces of Bengo and Namibe and the Nigerian states of Nasarawa and Bayelsa, respectively.
Zau further announced that the Angola Private Investment and Export Promotion Agency (AIPEX) and the Angola-Nigeria Business Council (ANBC), would reinforce collaboration to ensure robust economic partnerships driven by private investments from Nigeria.
He expressed concern over the underperformance of bilateral trade, stating that “trade between Angola and Nigeria remained dull, insignificant, and underexploited, considering the enormous potential of both countries.”
According to him, Angola’s exports to Nigeria between 2020 and 2022 were valued at approximately 5.6 million dollars, while imports from Nigeria stood at 16.8 million dollars, resulting in a negative trade balance of 11.2 million dollars for Angola.
Zau, however, hailed the historic and mutual relationship between the two nations.
He recalled Nigeria’s fervent support for Angola’s political independence and financial contributions toward the functioning of its first post-independence government.
Following independence in November 1975, the countries signed multiple cooperation agreements across defense and security, civil aviation, oil and gas, trade, and agriculture.
“President Bola Tinubu, during my accreditation, reaffirmed Nigeria’s commitment to openness and to strengthening bilateral cooperation by harnessing the full potential of both countries,” Zau added. (NAN) (www.nannews.ng)
Edited by Remi Koleoso/Abiemwense Moru
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