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Russia to Increase Investment in Large Projects in Angola

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Saturday, 27 June 2009

Russia plans to increase investment in mining, construction and space communications projects in Angola, a joint statement by the two countries' presidents said following talks.

Russian President Dmitry Medvedev invited his Angolan counterpart Jose Eduardo dos Santos to visit Russia during a meeting. The date of the visit will be coordinated later through diplomatic channels.

The sides pledged to strengthen cooperation, coordinate activity on the international arena, and develop trade, scientific, technological and cultural ties.

"The mining industry, power industry, transportation, telecommunications, military and technical cooperation, education and healthcare were chosen as priority areas to focus relations," the joint statement said.

Angola is the final stop on Medvedev's four-country trip to Africa, his first visit to the continent as Russian leader. Medvedev has visited Egypt, Nigeria and Namibia so far this week.

Angola is one of Africa's most resource-rich nations, with oil, gas, diamonds, iron ore, gold and uranium. However, it remains one of the world's poorest countries, with 70% of Angolans living on less than $1 a day.

Russia and Angola spoke out in favor of a common approach to ensuring peace and security, establishing democracy worldwide based on multipolarity, and stressed the superiority of international law, stating their readiness to work with other countries to achieve the goal.

Medvedev and dos Santos also called for improving the United Nations and a new international financial system with the participation of all countries, including dynamically developing African states.

The two countries signed a package of documents, including agreements on air communication and on capital investment protection, and left their signatures under a midterm program of economic, scientific-technological and trade cooperation between the governments for 2009-2013.

They concluded a contract to create the Angosat communications and broadcasting satellite.

Promising areas for economic partnership between the two countries are the exploration of diamond and hydrocarbon deposits, and cooperation in electricity production, Kremlin aide Sergei Prikhodko said earlier.

Moscow and Luanda established diplomatic relations when Angola declared its independence in November 1975. The Angolan president visited Russia in June 1998 and October-November 2006.


Saturday, 27 June 2009

Ria Novosti
   Russia

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