The 2nd Korea-Angola Joint Committee was held in Seoul on August 8 with Minister for Trade Kim Jong-hoon and Angolan Minister of Public Works Higino Carneiro leading their respective delegations.
At the Committee held for the second time since the first of its kind in May 2004 in Luanda, Angola, the two sides discussed on ways to strengthen bilateral cooperation in the fields of trade and investment, construction and infrastructure, energy and resources development. Minister Kim asked the Angolan side to help Korean companies participate in economic diversification projects. Angola is making efforts to diversify its oil-dependent economy.
Trade between Korea and resource-rich Angola, Africa’s second-largest oil and the world’s fourth largest diamond producer, has seen steady growth since the establishment of diplomatic relations in 1992, surpassing 1.2 billion US dollars as of the end of 2008. In a bid to bolster cooperative ties with Angola, the Korean government established the Embassy of the Republic of Korea to Angola in July 2007, with the Angolan government opening its Embassy in Seoul in October 2008.
