Entrepreneurs from Angola and Turkey signed agreements in Luanda, providing for the implementation of electrical power production projects in the Angolan provinces of Cabinda, Zaire and Namibe.
The agreements were signed during the Economic Forum between both countries in the presence of the president of Angola, João Lourenço and Turkey’s Recep Tayyip Erdogan.
An agreement was reached with a Turkish company to electrify the Cassinga mining zone (Huila province) and with another business group to cover the east region of Angola.
Another agreements reached with the Turkish business during the forum is related to the development of a unit to mix fertilizers as well as with the technical and professional training in the mining field.
However, the agreements were completed with the implementation of the milling industry and the cultivation of soy and corn.
Currently, the trade exchange between both countries stands at USD 134 million, with perspectives to reach billions in the coming years.
In 2020, Turkey invested in Angola about USD 22.55 million in various sectors.