By: Energy capital & power

Angolan President João Lourenço signed a framework agreement for the country’s accession into the International solar alliance (ISA) during a state visit to India this week. The agreement will see the country join the intergovernmental organization, which seeks to increase the deployment of solar energy technologies as a means for enhancing energy access and security worldwide.

In addition to the ISA agreement,Angola signed deals aimed at expanding bilateral cooperation in the fields of agriculture, defense and health. According to President Lourenço, these agreements enable the strengthening of bilateral cooperation between the two countries. President Lourenço also identified an opportunity to establish an investment fund and export credit line to encourage Indian entrepreneurs to invest in Angola.

“I have come to India with the intention of showcasing a new vision for the relations between our countries, grounded on concrete and practical results that will help transform the daily lives of our respective people. I would like to underscore the significance of the direct participation of Indian investors in the Angolan economy, which hold considerable growth potential,” stated President Lourenço.

Angola and India already have strong bilateral ties, with trade between the countries averaging $4.2 billion, of which 90% is in oil and gas. Angola is India’s second-largest supplier of oil and gas in Africa.

“India is one of the largest buyers of Angola’s oil and gas [and] we have decided to expand our energy partnership. Taking our development partnership forward, we will share our capabilities with Angola in digital public infrastructure, space technology and capacity building. Today we have also decided to further strengthen our relations in the sectors of healthcare, diamond processing, fertilizer and critical minerals,” stated Shri Narendra Modi, Prime Minister, India.