Angola and Nigeria are set to review over 20 agreements and Memorandums of Understanding at the 5th Bilateral Joint Commission meeting holding this week in Luanda. The talks will cover defence, trade, digital diplomacy, transport, tourism, and visa exemptions, with emphasis on boosting business and investment opportunities.
According to Angola's Ambassador to Nigeria, José Bamóquina Zau, the relaunch marks a turning point for stronger cooperation in hydrocarbons, agribusiness, ICT, innovation, and the blue economy—all aimed at attracting private investment, creating jobs for young people, and supporting SMEs in both countries.
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On the sidelines, Angola's provinces of Bengo and Namibe will sign twinning agreements with Nigeria's Nasarawa and Bayelsa States to deepen subnational ties, while the Angola Private Investment and Export Promotion Agency (AIPEX) and the Angola-Nigeria Business Council (ANBC) will strengthen platforms to connect entrepreneurs and drive private sector-led growth.
Despite historic ties and vast potential, bilateral trade beyond oil remains underdeveloped. From 2020 to 2022, Angola's exports to Nigeria were valued at $5.6 million against imports of $16.8 million, leaving a trade deficit. However, recent business forums show Nigerian firms expressing investment interest worth up to $5 billion—an opportunity both governments want to channel toward SMEs and broader economic diversification.
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