On Monday, Luanda and Abu Dhabi signed a comprehensive economic partnership agreement in the presence of Angolan President João Manuel Gonçalves Lourenço and his Emirati counterpart Mohammed bin Zayed during the latter’s official visit to Angola. The agreement, signed by UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi and Angolan Minister of Trade and Industry Rui Mucina de Oliveira, aims to qualitatively transform economic relations between the two countries, increase trade exchange rates, and open a new phase of joint economic growth. The agreement includes the elimination or reduction of customs duties, removal of unnecessary trade barriers, expansion of service export access to markets, and creation of new investment and cooperation opportunities across various sectors. Official data shows that non-oil trade volume between the UAE and Angola reached $2.17 billion in 2024, with a 29.7% growth in the first half of 2025 reaching $1.4 billion.

The agreement is expected to support the growth of non-oil trade and mutual investment flows. Additionally, the presidents exchanged several memoranda of understanding covering artificial intelligence, cooperation between the UAE Central Bank and Angola’s National Bank, agriculture, political consultations, diplomatic cooperation, tourism, investment, renewable energy, culture, education, workforce, sports, health, climate action, and technology.