Diamonds are Forever: Russia to Intensify Economic Cooperation with Angola

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MOSCOW – During the meeting between Russian President Vladimir Putin and Angolan counterpart João Lourenço, held yesterday, the two leaders have shown their commitment to expand bilateral cooperation in various fields.

Russia hopes to promote bilateral relations with Angola, including in the areas of diamond extraction, fisheries and space, said President Vladimir Putin during a meeting with Angolan counterpart João Lourenço.

“There are interesting areas such as diamond mining, fishing and space,” Putin said on Thursday. “Angola is a reliable and long-standing partner, and we need to look at what needs to be done in the near future to intensify economic-trade cooperation.”

The Russian president stressed that the two countries also have perspectives on humanitarian cooperation, for example in the preparation of personnel.

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João Lourenço was also keen to expand bilateral cooperation with Russia.

This is why yesterday I spoke at the opening of the Angola-Russia business forum here in Moscow to raise interest in Russian entrepreneurs to invest in the Republic of Angola – to diversify our economy,” said Lourenço.

Putin invited Lourenço to participate in the Russia-Africa forum, which will be held in the Russian city of Sochi on October 24. The Angolan president, for his part, thanked and accepted the invitation.

The meeting between the Russian and Angolan leaders was held as part of João Lourenço’s official visit to Russia. Earlier, the two leaders had met in July 2018 during the BRICS summit in the South African city of Johannesburg. The Russian president highlighted the political and air security cooperation between the two countries, as well as the prospects for joint projects that could increase trade between Angola and Russia.

Lourenço said that he counts on a deeper economic cooperation with Russia, emphasizing that Russian companies are already present in the extractive industry of his country and he is hopeful that other spheres of the Angolan economy gain Russian notoriety.

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