Bilateral trade between India and Angola has gone through a healthy growth trend over the last three years
The inaugural round of Foreign Office Consultations (FOC) between India and Angola saw the two sides conducting a comprehensive review of the existing bilateral relations, including greater collaboration in a number of areas including defence as well as trade & investment.

The FOC was held in Luanda, Angola on August 11, 2023.

According to information provided by the Ministry of External Affairs (MEA) on Saturday (August 12, 2023), the discussions included strengthening of cooperation in trade and economic relations, defence, energy, agriculture, development partnership, health and pharmaceuticals, science and technology, culture, and people-to-people ties.

Notably, during the FOC, there were detailed discussions on available opportunities for enhanced cooperation in the fields of rough diamonds trade, agriculture, food processing and Defence cooperation including Government of India’s offer of a Line of Credit (LOC) of USD 100 million to Angola for Defence procurement. Both sides exchanged views on diversification of the trade basket for mutual benefit.

The two sides also exchanged views on regional and international issues of mutual interest, like cooperation in the UN and other multilateral fora, climate change, International Solar Alliance (ISA), and sustainable development.

India and Angola have traditionally had friendly ties, based on shared values and common vision. The high-level engagements between India and Angola have helped to further strengthen the bilateral relations of the two countries, the MEA noted.

The First Joint Commission Meeting was co-chaired by the Foreign Ministers of the two countries in September 2020, which provided fresh impetus to their bilateral relations. Both sides are now exploring new avenues of cooperation.

According to official data, the bilateral trade between India and Angola has gone through a healthy growth trend over the last three years, increasing from USD 2.14 billion during 2020-21, to USD 4.22 billion in 2022-23. India is Angola’s third largest trading partner, sharing 10% of Angola’s external trade. India’s import from Angola is primarily driven by crude oil, which is 3% of India’s global oil import.

The Indian side was led by Additional Secretary (Central and West Africa Division), Ministry of External Affairs Sevala Naik Mude, while Secretary of State at the Ministry of Foreign Affairs Esmeralda Bravo Conde Da Silva Mendonca led the Angolan delegation. Both sides agreed to meet in New Delhi next on a mutually convenient date.

On the sidelines of the FOC, Mude paid a courtesy call on Minister of External Relations of Angola Tete Antonio and discussed bilateral issues of mutual interest.