Joao Lourenzo, President of Angola.

SOCHI, Russia. – The President of Angola, Joao Lourenzo, defended the need for industrialization of the African continent as an indispensable premise for its development.

In his speech at the first Russia-Africa Summit in Sochi, Russia, the head of State ensured that key leaders and actors in the region’s political, economic and social life share a similar approach.

The Angolan politician said that the partnership with Russia can help make a qualitative leap to leave behind the traditional scheme as commodity exporters and increase the participation of African nations in international trade in industrialized and manufactured products.

The Angolan President commented that his country is open to the participation of foreign companies in various sectors, including energy, agriculture, mining, agribusiness, manufacturing of agricultural equipment and telecommunications.