Interview: Angola seeks to diversify economy through China-Africa expo -- business leader

LUANDA, July 1 (Xinhua) -- Angola seeks to diversify its economy and address structural imbalance in it through the ongoing China-Africa Economic and Trade Expo, said President of the Angola-China Chamber of Commerce Luis Cupenala.

The expo is a vital opportunity for African countries to showcase their capabilities and products to the world, and Angola looks forward to upgrading cooperation and strengthening trade ties with China, Cupenala said in a recent interview with Xinhua.

The third China-Africa Economic and Trade Expo kicked off on Thursday in Changsha, the capital of central China's Hunan Province. The expo aims to welcome more "Made in Africa" products into China and boost business links between the two sides.

Attaching great importance to the event, the African country sent a high-level delegation to the expo, which includes several ministers, provincial governors and representatives of 17 companies, he said.

Trade between China and Angola has grown rapidly. According to Chinese customs statistics, bilateral trade reached 27.34 billion U.S. dollars in 2022, up 16.3 percent from the previous year. Angola became China's second-largest trading partner in Africa, following South Africa.

Hailing the progress of the trade relationship between the two countries, Cupenala said Angola's vast territory and rich reserves of oil and minerals offer great potential for cooperation with China.

He noted that companies from both countries have established strategic partnerships, while Angola aims to integrate China's experience into its own national development plan.

In addition, Cupenala pointed out that China's cooperation with African countries focuses on their development without interfering in their political affairs.

"Through initiatives like the Forum on China-Africa Cooperation, China seeks to become Africa's reliable and strong partner, fostering reciprocal contributions between China and the continent," he said.

Addressing the lack of infrastructure connecting African nations, he said the China-proposed Belt and Road Initiative and continuous cooperation with Africa are playing a vital role in promoting economic activities, as well as the flow of people, goods, technology and capital.

The business leader said he believes that the reciprocal cooperation between China and African countries will continue to foster greater trust between China and the continent.