China and Angola on Wednesday signed an agreement in Beijing to facilitate and protect bilateral investment, according to the Ministry of Commerce of China.

The pact, signed by Chinese Minister of Commerce Wang Wentao and Foreign Minister of Angola Tete Antonio, is a mutually beneficial, high-quality investment agreement that stipulates a dispute settlement mechanism and the investment protection obligations of the two sides.

This year marks the 40th anniversary of the establishment of diplomatic ties between China and Angola.

The signing of the agreement is expected to enhance investor confidence on both sides and create a more stable, convenient and transparent business environment for enterprises from both countries, the ministry said.

Next, the two sides will carry out their respective domestic procedures to promote the agreement's early entry into force, according to the ministry.