Hot SourceMichael Olugbode in Abuja
The work of the 5th Meeting of the Angola-Nigeria Bilateral Joint Commission will start tomorrow (Tuesday) in Luanda to review the Cooperation Agreements and Memorandums of Understanding between the two countries with a view to looking into the major economic challenges.
On the table, there will be more than 20 Agreements and Memorandums of Understanding that need to be updated and add new legal instruments that will henceforth guide political-diplomatic cooperation between the two countries in the areas of defense and security, cyber and digital diplomacy, economy and trade, judicial, culture, air and maritime transport, telecommunications and social communication, tourism and visa exemption.
The delegations are headed by the Secretary of State for International Cooperation of MIREX, His Excellency Domingos Vieira Lopes and the Minister of State for Foreign Affairs, Her Excellency Bianca Odumegwu-Ojukwu.
The Ambassador of Angola to Nigeria, José Bamóquina Zau described the moment as a turning point to promote more dynamic cooperation based on free trade, exemption from visas and double taxation, extradition and transfer of convicted people and greater security in the Gulf of Guinea.
“Since 2001, the work of this commission has been interrupted and we are very excited to relaunch this cooperation with a focus on the hydrocarbon and petrochemical industries, agribusiness, sun tourism, information technologies, innovation and the blue economy to generate investments that create young jobs and boost companies in both countries”, explained José Bamóquina Zau.
On the sidelines of the 5th Meeting of the Bilateral Joint Commission, two Twinning Agreements will be formalized between the Angolan provinces of Bengoand Namibe with the Nigerian States of Nasarawa and Bayelsa, respectively, with the participation of their governors.
At the same occasion, the Angola Private Investment and Export Promotion Agency – AIPEX and the Angola-Nigeria Business Council – ANBC will strengthen relationship channels to guarantee solid economic partnerships with private investments from Nigeria.
Trade between Angola and Nigeria continues to be dull, insignificant and unexploited consodering the potential that the two countries present, a situation that worries the respective Governments. Outside the oil sector, from 2020 to 2022, the value of exports of goods from Angola to Nigeria was calculated at US$5.6 million and imports stood at US$16.8 million, representing a negative trade balance of US$11.2 million.
In February 2024, the Angolan Embassy organized, in Lagos, the 2nd Business Forum and Nigerian gross investment intentions had been estimated at US$5 Billion.
Before Angola’s Independence, Nigeria was a fervent supporter of its political emancipation, contributed financially to the functioning of the first government.
After independence, in November 1975, several cooperation agreements were signed in the fields of defense and security, civil aviation, oil and gas, trade and agribusiness.
President António Agostinho Neto visited Nigeria in 1977 and was conferrd with the title of Doctor Honoris Causa by the University of Lagos – UNILAG. The then Prime Minister of Angola, Lopo Ferreira do Nascimento visited Nigeria several times to give practical expression to the cooperation agreements.
In October 2023, during the accreditation of Ambassador José Bamóquina Zau, President Bola Tinubu reaffirmed the commitment to openness and strengthening cooperation between the two countries by better exploring their potential.
The post 5th Meeting of the Angola-Nigeria Bilateral Joint Commission Holds Tuesday in Luanda appeared first on THISDAYLIVE.
