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Angola Wants to Diversify China Business Relations

Angola Wants to Diversify China Business Relations

From eNCA

The president of oil-rich Angola called for broader economic ties with Beijing on Friday as Chinese Premier Li Keqiang kicked off a two-day visit.

President Jose Eduardo dos Santos said there was scope to deepen and broaden ties with the Asian economic superpower, by shifting away from infrastructure and other projects.

“It’s possible to increase and diversify economic relations between Angola and China, giving more weight to direct investment from Chinese firms to produce basic consumer goods, instead of services or public works.”

He also called for Chinese firms to look for “mutually beneficial partnerships with Angolan businesses.”

China currently buys nearly 40 percent of Angola’s crude oil output and Angola is its leading destination for investment in Africa.

Read more at eNCA