(Ecofin Agency) - Trade volume between Italy and Africa is valued at an average of €34 billion a year. This was disclosed on Monday, November 27, by the Italian Prime Minister, Paolo Gentiloni, while visiting Angola. 

According to the official, last year, with more than €12 billion, Italy was the third largest investor worldwide and first European investor in the sub-Saharan African region.

On the sidelines of a press conference with Angola’s President, Joao Lourenço, Paolo Gentiloni indicated that the implication of the European Union (EU) and development aids were necessary for the growth of the African continent. He said this while adding that a particular accent should be put on foreign public and private investments. 

Gentiloni also said he believes EU’s future strongly depends on Africa. In fact, his country currently injects €94 million in the Fonds de La Valette, the European fund for stability in Africa.

Angola is the second African nation visited by the Italian official, in the framework of his tour across the continent. The first was Tunisia. The next destinations for the Prime Minister are Ghana, on Tuesday, and Côte d’Ivoire, his last, on Wednesday. 

Fiacre E.  Kakpo