9,000 Portuguese companies currently export to Angola

Over 9,000 Portuguese companies currently export to Angola about 2000 Angolan companies, are at least part-owned by Portuguese investors, according to figures from Portuguese Agency for Investment and Foreign Trade (AICEP).
The same figures also showed that two-way trade amounted to 7 billion euros in 2013, and of that total 3.1 billion euros were goods exports and 1.4 billion euros were services exports from Portugal to Angola.
“In the first ten months of 2014 compared to the same period of last year, Portuguese exports to Angola increased by 3 percent, after an absolutely record year in 2013,” the head of the AICEP delegation in Luanda, Luís Moura, told Portuguese news agency Lusa.
In this scenario, the introduction in March of the new Angolan Customs Tariff, which increases the price of some products to encourage domestic production, has not affected the Portuguese exports.
“We are not falling and, for example, the export of beer has increased,” noted Moura, referring specifically to a market in which Portuguese companies compete with Angolan brands and which has seen price increases due to the new Customs Tariff.
With 9,000 companies exporting to Angola, the focus in 2015, according to AICEP, includes industry and setting up Portuguese subsidiaries, in addition to the 2,000 already operating in the country. MDT/Macauhub