afrol News, 16 October - A 13-member trade delegation from Britain arrived in the Angolan capital Luanda on Tuesday for an eight-day visit. The visit will enable the British look into the possibility of investment opportunities investing in the country's oil and gas sectors.

The delegation will also discuss trade development matters with Angolan authorities, the British High Commission in Luanda confirmed in a statement.

On Wednesday, the business explorers will attend a meeting in which they will be briefed on the legislation, current tax law and how to conduct business in Angola.

The visit also aims to facilitate meetings between Angolan and British companies so as to identify possible areas of partnership for the creation of join ventures.

It will also enable UK Trade & Investment (UKTI), a British Government agency that deals with international commercial promotion, and the United Kingdom West African Action Group (UKWAAG), to identify new bilateral trade opportunities.

British interest in Angola was based on the country's position as the second biggest oil producer in sub-Saharan African, after Nigeria, and following its recent membership in the Organization of Petroleum Exporting Countries (OPEC).

UKTI and UKWAAG are working together to create viable solutions to the challenges faced by the Angolan energy sector and are considering suitable areas of specialities in the sector.

Angola's high growth rate is driven by its oil sector, with record oil prices and rising petroleum production.

Oil production and its supporting activities contribute about half of GDP and 90 percent of exports. A post-war reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well.

Much of the country's infrastructure is still damaged or undeveloped from the 27-year-long civil war.

By staff writer

© afrol News

Tweet

Printable version

On the Afrol News front page now

UN will not monitor human rights in Western Sahara afrol News - The US has backed down on its demand that UN peacekeepers in Moroccan-occupied Western Sahara also shall monitor the human rights situation after Moroccan sources threatened to scale down relations with Washington. Read more

Central African Republic

Central African Republic falling apart afrol News - One month after the rebel movement Séléka took over power in the Central African Republic, unrest is spreading in the country. The new leader lacks control of his forces, which continue looting and abusing civilians. Read more

Kenya

Kenyatta secures tight victory in Kenya afrol News - The official election results in Kenya have finally been announced, and Uhuru Kenyatta managed to win the first poll round outright with a narrow 50.7 percent. But the main opponent, PM Raila Odinga, is filing a vote rigging complaint to the courts. Read more

Cape Verde Cape Verde to produce dragon fruit afrol News - Cape Verde authorities have invested large sums to diversify the arid country's agricultural sector. Now, the dragon fruit, originating in tropical America, is being introduced for the first commercial production in Africa. Read more

Egypt Even governors in Pharaonic Egypt died in their 20s afrol News - Researchers have analysed more than 200 mummies from ancient Egypt, finding that even high dignitaries were poorly nourished and had infectious diseases. The typical governor in Pharaonic Egypt died before he was 30 years old. Read more