Italy-Angola Economic Forum in Milan attracts investors for economic diversification

Italy-Angola Economic Forum has commenced on Monday, June 10 in Italy’s Milan. The forum is intended to attract foreign investors in view of government of Angola’s programme aimed at economic diversification.

The event is sponsored by the Private Investment and Export Promotion Agency (AIPEX) and the Angola-Italy Chamber of Commerce and Industry (CCIAI). In his opening ceremony address, Mario Cabrini, Deputy Chairman of CCIAI, highlighted the advantages for the foreign investor in Angola.

He stressed the role of the Forum in strengthening economic ties between the two nations. In turn, the Secretary of State for International Cooperation and Communities of Angola, Domingos Vieira Lopes, highlighted the importance of the event on promotion of a perspective that develops the diversification of the economy." He reaffirmed the historical relations between the countries and recalled that the first bilateral agreement between Angola and Italy was signed in 1977.

Italy was the first country to recognise Angola as an independent country in 1976. Both countries live in a period prone to new business. Angola is now Italy's third largest trading partner among Sub-Saharan African countries. In 2013 the total value of trade between the countries was 891 million Euros.

Francesco Florio, a representative of Legance associate lawyers, who hosted the event in partnership with CCIAI, said he hoped "this will be an opportunity for development and investment in business relations between companies in both countries."

The event gathers around 50 representatives of Angolan companies and 70 Italian companies, including Fiat, ENI giants.

With inputs from agencies.

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