Angola, China put an end to double taxation on business transactions

Luanda, ANGOLA, October 6 – Angola and China are due to sign a set of agreements including an accord to put an end to double taxation in commercial transactions, as part of a visit the Angolan president Joao Lourenco is due to start to the Asian country, Angop has learnt. ,

The Angolan head of State, Joao Lourenco, is set to visit China on 9-10 October at the invitation of his local counterpart, Xi Jinping, according to the President’s Civil Affairs Office.

Angolan president’s visiting agenda includes meetings with Chinese leaders at the highest level, with stress to Prime Minister Li Zhanshu and with the President Xi Jimping, both on Tuesday.

Joao Lourenco left Luanda on Saturday at the head of a high-level delegation, comprising two state ministers – Manuel Nunes Junior of Economic and Social Development; and Frederico dos Santos Cardoso head of the Civil Office of President.

Ministers from various sectors, such as Foreign Affairs, Finance, Construction and Public Works, Transport and Energy and Water, also join the delegation.

Integrating the delegation are also officials from the Office of the President of Republic.

The Chinese government has officially extended lines of credit to Angola through several of its state-owned investment banks.

The first official Chinese credit line for Angola dates back to 2002.

China’s credit to Angola stands at billions, through Exports and Imports Bank, aimed to repair the country’s infrastructure.

Angola is currently one of the China’s main trading partners in Africa since 2007.

Angola established relations with China in 1983.