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Côte d’Ivoire and Angola have signed an important agreement to strengthen cooperation in the energy sector, particularly oil and gas. The agreement was reached during the official visit of Angolan President João Lourenço to Abidjan from June 27 to 29.
The bilateral agreement signed by the two countries focuses mainly on the exploration and production of oil and gas. In addition to the energy sector, the agreement also covers 13 areas such as mineral resources and scientific research. The agreement stipulates strengthening cooperation to optimize the development of energy resources and focus on local content.
In recent years, cooperation between Côte d’Ivoire and Angola has been growing, with trade increasing by 74% between 2021 and 2022. This significant growth highlights the importance of relations between the two African countries, and the current agreement aims to further strengthen these relations, especially in the hydrocarbon sector.
The agreement opens up new prospects for both countries. Côte d’Ivoire and Angola are seeking to optimize the monetization of their oil resources and this partnership could stimulate additional investment in the energy sector. Close cooperation in oil and gas exploration and production is expected, thereby promoting economic and social development in both countries.
On June 28, at a forum between the private sectors of Côte d’Ivoire and Angola, the Angolan Minister of State for Economic Coordination, José de Lima Massano, stressed the importance of promoting investment and establishing strategic partnerships. He said these initiatives are aimed at optimizing the allocation of resources and improving economic and social benefits in both countries.
In conclusion, the agreement between Côte d’Ivoire and Angola marks an important step forward in energy cooperation in Africa. This strategic partnership is expected to strengthen economic ties between the two countries while providing development opportunities in the energy sector. The coming years will be crucial in observing the positive impact of this cooperation on the economies and social well-being of both countries.
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