The Angolan currency, the kwanza, will be accepted in China, announced Angola’s Minister of Commerce, Rosa Pacavira.
“The kwanza will be accepted in China, [and] the yuan will be accepted here in Angola,” said the Minister, as quoted by Portuguese news agency Lusa and referring latterly to China’s currency and to settlement of trade deals.
Speaking at a public event in Angola’s capital, Luanda, Ms Pacavira explained the two nations have reached a monetary agreement that she said would would make it easier for Angola to import goods from China and make it easier for China to export goods to Angola
“No [other] country has agreed to do this – only China. This is a great benefit,” the Minister said, referring to the acceptance of the kwanza for trade settlement. She added the Angolan Ministry of Commerce would analyse the quality of the products it expected to see being imported from China as a result of the policy.
Angola usually pays for its imports in U.S. dollars, but the country’s reserves are down amid declines in global oil prices, Lusa explained.
Angola’s President, José Eduardo dos Santos, visited China in June. The two nations signed several co-operation agreements.
