ABSTRACT
The rise of emerging powers, notably the Brazil, Russia, India, China, and South Africa (BRICS) countries has led to a corresponding swell in South-South trade, particularly as concerns Africa. Given its resource wealth, African countries have taken on a new strategic significance in the race for energy security amongst emerging powers. Angola is reportedly the fifth largest African market for Chinese exports, but these are dwarfed by Chinese imports of crude oil resulting in China running a large trade deficit with Angola. The Chinese Ministry of Finance, on behalf of the Chinese central government is the lone shareholder of the China Exim Bank, but reports directly to the State Council. Angola was Brazil's second largest African trading partner comprising 16 percent of Brazil's total trade with Africa, after Nigeria. China and Brazil have both employed Export Credit Agencies (ECAs) as instruments to increase their economic interaction Angola, as this form of economic engagement mitigates perceived risk inherent in such operations.
