Angolan President Jose Eduardo Dos Santos has begun his first state visit to Portugal, hoping to boost trade with the former colonial power which is now a major business partner.Dos Santos has taken a high-level delegation to meet his counterpart Anibal Cavaco Silva in Lisbon. And, later today, the two leaders are scheduled to sign a deal creating a joint investment bank, co-owned by Portugal’s Caixa Geral de Depositos and Angola’s state-owned oil giant Sonangol. Angola’s direct investment in its former colonial master tripled in 2008 to 59 million euros, while Lisbon’s investment in the oil-rich African state was 757 million euros, according to figures from the Portuguese central bank. Angola is also Portugal’s fourth-biggest export destination. Angola gained independence from Portugal in 1975. The oil-rich African state emerged from 30 years of civil war in 2002 and is seeking to diversify its economy and attract foreign investment to beat the global financial crisis.
Angolan leader in Lisbon for two-day state visit