Venezuela, Angola endorse MoU to promote bilateral commercial exchange

The Presidents of Venezuela’s Foreign Trade Bank (Bancoex), Guillermo Lara, and Angola’s Chamber of Hispano-American Commerce and Industry (CCIHA), Reinaldo Trindade, took on the commitment to create a Business Binational Council by signing a memorandum of understanding to dynamize commercial exchange between the two countries.

The endorsement of this MoU took place at a virtual meeting, also attended by Venezuela’s Vice-Minister for Africa, Yuri Pimentel; Angola’s Consul in Caracas, Felisberto Fernandes Da Costa; and the Venezuelan Ambassador to Angola, Marlon Peña Labrador, who facilitated the rapprochement between the parties.

In his statement, Lara expressed his satisfaction at the endorsement of this MoU, which will boost trade between Angola and Venezuela.

Lara also stressed that the Bilateral Business Council will promote economic cooperation relations between the two countries in different areas by encouraging business and investments and focusing on the business private sector.

CCIHA President Reinaldo Trindade highlighted that the idea of working to establish the Bilateral Business Council comes at a propitious time, given that the two government have launched programs to diversity their economies, an opportunity for Angolan and Venezuelan businessmen to exchange experiences and expand their businesses.

Trindade remarked that Angola and Venezuela are facing different common challenges that can be overcome with the help of their business communities.

As the COVID-19 pandemic imposes new conditions, this is the first MoU endorsed by the Venezuelan Government and an African commercial institution at a virtual meeting, in line with the initiative of finding new horizons for economic exchange and fostering relations with international private business sectors.