Social News XYZ     

Economic recovery a chance for Italy to boost trade ties, says Gentiloni

Economic recovery a chance for Italy to boost trade ties, says Gentiloni

Luanda, Nov 27 (IANS/AKI) Italy's economic recovery offers an opportunity to strengthen its trade links in the energy and defence sectors but also in new ones including agriculture and infrastructure, Premier Paolo Gentiloni said on Monday.

"Now that the Italian economy is picking up, it is the moment to build closer ties with friendly countries in the traditional sectors of defence and energy and also in new ones," Gentiloni said during a visit to Angola.
"These include agriculture and animal husbandry, but (bilateral) cooperation could also be extended to sectors like infrastructure, transport and training," he said.

 

Gentiloni earlier on Monday hailed a deal inked during his visit to Angola between its state oil company Sonangol and Italian oil and energy giant Eni under which Eni will expand its operations in the African country.

He said that the two "key" accords signalled the expansion of Eni's operations in Angola and its development of a joint energy strategy with Angola's state oil company.

"The choice of Angola as the first leg of my visit to Africa is not fortuitous but stems from our long-standing relations," Gentiloni said at a press conference with Angolan President Joao Lourenco.

Besides their "historic cooperation" in the fields of energy and defence, Italy and Angola have potential to do business in the food and agriculture sectors, said Gentiloni, who is visiting Angola, Tunisia, Ghana and Ivory Coast on his five-day African trip which concludes on Wednesday.

Eni on Monday inked an agreement to strengthen its presence in Angola's upsteam, downsteam, trading and renewable sectors and deepen its strategic alliance with Sonangol, Eni said.

It will operate the Cabinda North block and control 48 percent of the block's rights under the deal as against 15 per cent so far, as per the deal signed by Eni CEO Claudio Descalzi and Sonangol Chairman Carlos Saturnino in Luanda in the presence of Gentiloni and Goncalves, the statement said.

Eni has been present in Angola since 1980 through its subsidiary Eni Angola and currently produces 155,000 barrels of oil equivalent per day, the company stated.

Facebook Comments
Economic recovery a chance for Italy to boost trade ties, says Gentiloni

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

%d bloggers like this: