President Lourenço pledges to deepen Angola-Tanzania’s economic ties by increasing trade and investment

DAR ES SALAAM: Angolan President João Lourenço has said his country aims to strengthen economic cooperation with Tanzania by increasing trade and investment between the two nations.

Speaking at State House in Dar es Salaam, President Lourenço said that despite the longstanding historical and brotherly ties between Angola and Tanzania, there was a need to deepen economic cooperation to accelerate development in both countries and improve citizens’ living standards.

He said the two countries had signed treaties and cooperation agreements, including in air transport services, to facilitate travel and communication for businesspeople and investors, as well as the movement of goods.

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President Lourenço also stressed the importance of strengthening air and maritime transport infrastructure to unlock further trade and investment opportunities. He noted that cooperation between governments and the private sector could increase the economic benefits for both nations.

He called on African countries to strengthen intra-African economic cooperation to maximise available opportunities and reduce heavy dependence on trade and investment from Europe, America and Asia.

President Lourenço is in Tanzania for a three-day official visit aimed at strengthening the historical and brotherly relations between the two countries and expanding economic cooperation, trade and investment.