At the CEOE headquarters
The president of CEOE International, Marta Blanco, has met with the new ambassador of Angola in Spain, Alfredo Dombe, in what is one of her first visits after the presentation of the Style Copies of their Credential Letters.
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The meeting served to review the bilateral economic and trade relations between the two countries. Blanco and Dombe have reviewed the intense existing institutional agenda, with visits by both Presidents of the Government and a State visit from Spain to Angola. In these visits, the business component has been very relevant.
In addition to these trips and high-level visits, the two countries have carried out other business activities, such as monitoring the opportunities that have been identified.
Spain appreciates Angola's trust in relying on Spanish companies for its development, transformation and productive diversification
There are factors such as the country's growth potential, its membership in the Continental African Free Trade Area (AfCFTA, for its acronym in English), population growth or urban development, among others, which invite to strengthen business cooperation for the benefit of both countries.
CEOE wants to collaborate in achieving this objective and give Africa in general, and Angola in particular, a preferred place in its international activity.
Angola's economy has returned to the path of growth in the last two years and the World Bank It is expected to continue increasing its GDP in 2023. Bilateral economic relations between Angola and Spain are increasingly closer. Proof of this is that, in 2022, bilateral trade between both countries increased by 1.403 million euros. Specifically, total exports to Angola reached 183 million euros in 2022, 31% more than in 2021, highlighting capital goods and consumer manufacturing. For its part, total imports from Angola reached 1.985 million, predominating energy products (98,6%).
For its part, Spanish investment in Angola has been increasing until 2021 (last year with official data), reaching 457 million euros. The sector where most of this investment is concentrated is financial services, with 70% of the total.
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