| Angola Signs Nine Cooperation Agreements
with China
China's Vice Premier Zeng Peiyang visited
Angola this week and the culmination of that visit was the signing
of nine cooperation agreements covering a number of government
and private sector initiatives. They include:
1. cooperation in the oil and gas sector;
2. cooperation in the mineral resources sector;
3. cooperation on infrastructure development;
4. an economic and technical assistance package through which
China will provide Angola with approximately $6.3 million in
interest free loans;
5. a cooperation agreement between the Angolan Ministries of
Petroleum and
Geology and Mining and China's National Commission for Development
and Reform;
6. an agreement for Sonangol's long term supply of oil to China's
Sinopec oil company;
7. Sonangol and Sinopec's joint evaluation of Block 3 in Angola;
8. joint study of a new oil refinery in Angola;
9. a $69 million agreement between Angola's MundoStartel and
China's ZTE Corporation to develop telephone networks in Angola.
In related news Angola's Council of Ministers also approved
ZTE's broader operations in the country. ZTE will invest $400
million in Angola, $300 million of which will be used to modernize
and expand Angola Telecom's fixed line network, while approximately
$100 million will be invested in military communications, the
development of a mobile telephone factory and the creation of
a telecommunications training institute for Angolan employees.
Angola is China's second largest trading partner in Africa.
In 2004, bilateral trade totaled $4.9 billion, representing
more than a 113 percent increase from 2003.
ANIP
NEWS
Press-center of Angola Embassy in Russia
04.03.2005
Embassy of Republic of Angola, 2005
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