Angola and Türkiye have announced plans to significantly expand bilateral trade, setting an ambitious goal of reaching $500 million in the coming years. The announcement came during the third Türkiye-Angola Joint Economic Commission session held in Ankara, where high-level officials from both nations emphasized mutual commitment to deepening ties in energy, trade, and development cooperation.
Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, met with Turkish Energy and Natural Resources Minister Alparslan Bayraktar to explore opportunities in sectors such as oil, natural gas, agriculture, transportation, education, and investment.
“We seek a sustainable, long-term partnership with Türkiye,” said Azevedo, who invited Turkish firms to invest in Angola’s energy and mining industries. He also outlined Angola’s target to boost oil production to 1.5 million barrels per day by 2030 and noted the country’s substantial solar potential, capable of covering nearly half its energy demand.
Bayraktar highlighted Türkiye’s growing trade presence across Africa, noting a rise from $5.4 billion in 2003 to $37 billion in 2024. “Our Presidential goal is to reach $500 million in trade with Angola in this first phase. We see enormous potential,” he said.
Türkiye has already invested around $10 billion across Africa, with Turkish contractors completing over 2,000 projects worth close to $100 billion. In Angola alone, Turkish firms have completed eight major projects worth $1.2 billion.
The energy sector remains a key pillar of cooperation, with discussions underway between Angola’s Sonangol and Turkish Petroleum International Company (TPIC) to increase crude and petroleum trade. A delegation from Turkish Petroleum and a mining company is expected to visit Angola later this month to further explore collaboration.
Bayraktar also pointed to untapped opportunities in sectors such as textiles, waste management, milling, defense, retail, and construction.
The two ministers agreed to closely monitor the outcomes of this session, with the next Joint Commission meeting set to be held in Angola.