Angola/UAE trade chamber to promote exports, balance trade

The Angola/United Arab Emirates Chamber of Commerce and Industry (CCIA-UAE) launched an action plan here on Tuesday to promote Angolan exports in a bid to balance the trade between the two countries, reports agency.

Vando Matias, head of the CCIA-UAE, said at the launching ceremony that the Angolan trade chamber aimed to promote the export of Angolan agricultural products, wood, marble and granite to the UAE.

The trade chamber will also take advantage of the 2020 World Expo held in Dubai, UAE to attract direct investments from the Middle Eastern country, and is expected to exhibit Angolan products especially agricultural ones at the 173-day Expo, said Matias.

The two countries signed two memorandums of understanding on agricultural development last month here in the Angolan capital.

In July, the UAE pledged to invest roughly 2 billion U.S. dollars to boost Angola's electricity, gas and agriculture production and help install a tractor assembly plant.