The Globe and Mail reports in its Tuesday edition that Canadian mining companies may benefit from the Carney government's economic agreement with resource-rich Angola, a key target in Ottawa's trade diversification campaign.
The Globe's Geoffrey York writes that Prime Minister Mark Carney met with Angolan President Joao Lourenco last month, inviting him to Canada and highlighting progress in economic negotiations.
The two leaders, who met on the sidelines of the United Nations General Assembly, discussed an economic co-operation agreement and "agreed to work toward its conclusion," Mr. Carney's office said in a statement.
The agreement would be a memorandum of understanding rather than a detailed blueprint. But it could put Angola ahead of most other African countries, which have not received the same level of attention from the Carney government since the beginning of its trade diversification efforts.
Its oil wealth has placed Angola in the ranks of Africa's six biggest economies, but its mineral deposits are emerging as a new focus for investment. Marisa Lourenço, a regional analyst, says mining will be central to the Canada-Angola economic deal and will be the "most obvious anchor" in their emerging relationship.
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