LUANDA : Angolan President João Lourenço has highlighted the opening of the African Bank of Oman in Angola as a key outcome of expanding economic ties between the two countries, as Oman and Angola seek to deepen investment and trade cooperation.

Speaking during the State Visit of His Majesty Sultan Haitham bin Tarik to Angola, Lourenço said the establishment of the Oman-Africa Bank in the country this year reflected the “positive and direct results” of growing bilateral cooperation.

The Angolan president made the remarks in a welcome address to His Majesty the Sultan and his accompanying official delegation at the Presidential Palace in Luanda.

Lourenço said the historic visit represented an advanced stage in efforts to broaden the economic, investment and trade partnership between Oman and Angola.

He also pointed to the entry of Omani companies into investments in Angola’s mining sector as another indication of strengthening commercial ties.

The two countries are exploring further opportunities for private-sector investment in agriculture, fisheries, mineral resources, oil and gas, and the pharmaceutical industry, he said.

His Majesty Sultan Haitham and Lourenço also held bilateral talks during the visit, reviewing relations between Oman and Angola and discussing ways to expand cooperation for the mutual benefit of both countries.

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