Economic & Commercial

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Bilateral trade figures between India and Angola: 

Amount Million USD

Exports

Imports

2005-
06

2006-07

2007-08

2008-09

2005
-06

2006-
07

2007-08

2008
-09

Angola

151.66

200.33

263.35

369.93

3.25

245.33

1017.39

1421.73

India’s exports to and investments in Angola have shown perceptible increase after cessation of civil war. Bilateral trade between the two countries which was only a few million dollars 5 years ago reached US$ 450 million in 2006-07 and USD 1.8 billion in 2008-09. The principal items of export are Indian tractors and transport vehicles, agricultural machinery and implements, pharmaceuticals and cosmetics, Tea, Rice (Basmati), food & meat products Spirits & Beverages, finished leather, paper/wood products, petroleum products, etc.

Government of India extended a line of credit of US$ 40 million to Government of Angola for a project for the rehabilitation of CFM (Railway Company of Mocamedes) Railway, the first major Government–to-Government initiative between the two countries. Rail India Technical and Economic Consultancy Services (RITES) Limited who started the implementation of the project in 2005 handed the completed over to Angolan Minister of Transport on 28.8.2007. EXIM Bank of India extended three credit lines of US$ 5, 10 and 13.8 million for agricultural equipment and Indian tractors. The State Bank of India which opened its Representative Office in Luanda in April 2005 has also extended commercial lines of credit of US$5 million for supply of tractors and import of capital equipment from India. Another term loan of 10.8 million has been approved by SBI.  GOI has recently approved US$30 million for setting up an Industrial park and US$15 million for setting up a cotton ginning and spinning plant.

As a goodwill gesture the Ministry of External Affairs, Government of India gifted 5 ambulances manufactured by Mahindra & Mahindra to Government of Angola which were handed over on 6.12.2005 to H.E. Mr. Andre Luis Brandao, Minister of Transport in the presence of H.E. Dr. Sebastiao Sapuilo Veloso, Minister of Health.

Ministry of External Affairs under the Indian Technical and Economic Cooperation (ITEC) programme extends several training slots to Angola in various fields rangings from English language to Audit & Accounts.