New ‘Belt and Road’ agreement paves way for Macao participation

On 6 December 2018, Macao Chief Executive Chui Sai On (pictured left) and the Chairman of the National Development and Reform Commission He Lifeng (pictured right), signed the “Arrangement for Advancing Macao’s Full Participation in and Contribution to the Belt and Road Initiative” in Beijing.

Mr Chui said the new agreement paves the way for Macao’s contribution to the “Belt and Road” initiative and provides new impetus for the city’s economic development. He said the Macao SAR Government would spare no effort, under the guidance of the Central Government, in advancing co-operation with Guangdong Province and Fujian Province while encouraging further participation of Portuguese-speaking Countries in the “Belt and Road” initiative.

The Arrangement supports Macao in a number of fundamental ways, such as: developing the city into a commercial and trade co-operation and financial services platform between China and Portuguese-speaking Countries to internationalise the renminbi; crafting Macao into a major transport hub and an important logistics centre of the “21^st-Century Maritime Silk Road”; nurturing the organic connection between the development of the “Belt and Road” initiative and Macao’s strategic roles as a World Centre of Tourism and Leisure and as a Commercial and Trade Co-operation Service Platform between China and Portuguese-speaking Countries; and supporting Macao to become an important stage for hosting high-profile forums and international exhibitions relevant to the “Belt and Road” initiative.