Angola’s President Visiting China to Sign Economic Agreements

Angola President Jose Eduardo dos Santos is visiting his Chinese counterpart Xi Jinping in Beijing to sign economic agreements, state-run news agency Angop reported.

The two leaders begin three days of discussions on Tuesday to sign accords in financial, agriculture, education and energy fields, Angop said, citing Foreign Affairs Minister Georges Chikoti. They also will discuss ways to ease visa red tape and to open an Angolan consulate in Guanzhu province due to the volume of business between the two countries, Angop said.

China imports about half of Angola’s oil output, according to trade figures. The nation, part of the Organization of Petroleum Exporting Countries, is looking to China for lines of credit as revenue shrinks with oil prices down 43 percent in the past year. Angola, Africa’s second-largest crude producer after Nigeria, had oil output of 1.78 million barrels a day in May, more than Qatar and Libya combined, according to data compiled by Bloomberg.

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