UAE And Angola Sign MoU To Form Business Council For Enhanced Economic Cooperation

The Federation of the UAE Chambers of Commerce and Industry has entered into a Memorandum of Understanding (MoU) with Angola's Chamber of Commerce and Industry (CCIA). This agreement aims to form the UAE–Angola Business Council, enhancing economic ties and investment prospects between the two nations. The signing took place during a high-level UAE delegation's visit to Luanda, Angola.

Abdallah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of SCCI, signed the MoU alongside Vicente Soares, President of the Chamber of Commerce of Angola. The event was attended by senior officials and business representatives from both countries. Al Owais emphasized that this council marks a significant step in strengthening bilateral relations.

The UAE–Angola Business Council is set to create substantial opportunities for businesses in both regions. Al Owais stated that it will benefit from comprehensive support from both chambers. The council plans to implement various commercial and promotional initiatives targeting key economic sectors outlined in their cooperation agenda.

Al Owais highlighted that the council will serve as an effective platform for entrepreneurs and investors. It will enable them to present their ventures, establish enduring trade partnerships, and explore new areas for collaboration. This structured approach aims to foster sustainable trade relationships between the two countries.

The Angolan side stressed the importance of forming this joint business council. They view it as a crucial tool for turning shared interests into actionable initiatives. The Angolan business community is dedicated to building strategic partnerships within the council's framework, enhancing economic dialogue, and fostering sectoral engagement.

According to the MoU, the UAE–Angola Business Council will promote continuous interaction between business communities in both nations. It will facilitate knowledge exchange on trade opportunities and regulatory frameworks. Additionally, it aims to organize joint exhibitions, conferences, and reciprocal trade missions to advance mutual economic interests.

Facilitating Knowledge Exchange

The council will play a vital role in exchanging information on emerging opportunities and growth markets in both countries. This initiative is expected to boost engagement between business sectors and enhance economic dialogue. By doing so, it seeks to transform shared interests into concrete actions.

The establishment of this council signifies a commitment from both sides to deepen their economic relationship. It provides a platform for ongoing dialogue and collaboration, ensuring that businesses can capitalize on new opportunities as they arise.

With inputs from WAM