Belgian businesses close deals in Angola

A Belgian economic delegation led by Princess Astrid (pictured) flew to Angola last Sunday with an aim to boost local exports to Angola and help companies develop trading links with the emerging African country.  

Trade between Belgium and Africa is already following an upward trend, with exports from the region of Flanders in particular up 17% in 2012 compared to 2011. Angola plays an important role in the African economy as the second-largest oil exporting country (after Nigeria) and is one of the most important diamond producers in the world.

Flanders, meanwhile, has a leading role in Belgium’s trade with Angola, representing almost 93% of all trade. With the help of Flanders Investment and Trade, some 67 Flemish companies took part in the trade mission. The main focus was on oil, gas and the diamond trade.

Several deals have already been signed, including one involving Ostend fishing specialist Bevisco and another with Belgacom subsidiary BICS. The Wijnegem-based construction company Frisomat has obtained the green light to build a 5,000-square-metre factory near the capital Luanda for TEC-DREAM-Technologia. Meanwhile, the Antwerp Port Authority has improved ties with Transnet, which manages seven commercial ports in Angola.

The most promising areas for foreign investment in Angola are infrastructure, agriculture and the service industry. Flanders Investment and Trade has opened a new office in Luanda to help develop further trade links.