Nigeria and Angola, in an effort to enhance economic growth and promote bilateral trade, have strengthened their economic cooperation.
This was revealed during the inaugural Angola-Nigeria Business Forum held in Abuja.
Speaking during the business forum in Abuja, the Secretary of State for International Cooperation and Angolan Communities, Domingos Lopes, who represented the Minister of External Relations, Angola, Téte Antonio, said that Angola would invest more in strengthening economic and commercial relationship with Nigeria in other to gain experience in diversification of the economy.
He said ties between both countries was established with the signing of the first economic, technical, scientific, and cultural cooperation agreement in 1976. He added that the exchange between the two countries had been significant in the diplomatic, defense and security, petroleum, education, culture and transportation sectors.
“In the last three years (between 2020 and 2022), Angola’s export of goods to Nigeria was estimated at USD 5.6 million, and its imports stood at USD 16.8 million, resulting in a negative trade balance of about USD 11.2 million,” he explained.
Source : Leadership