Twelve ministerial-level officials and 900 participants from the Mainland and Portuguese-speaking Countries attended the Entrepreneurs and Financiers Meeting in Macao on 12 October 2016. The meeting was one of the supporting activities of the 5th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao).

DURING THE 5^TH MINISTERIAL CONFERENCE OF THE FORUM FOR EC ONOMIC AND TRADE COOPERATION BETWEEN CHINA AND PORTUGUESE-SPEAKING COUNTRIES (MACAO) HELD IN MACAO, MINISTERIAL OFFICIALS FROM MAINLAND CHINA AND PORTUGUESE-SPEAKING COUNTRIES ATTENDED THE ENTREPRENEURS AND FINANCIERS MEETING TO DISCUSS NEW CO-OPERATION MODELS AND OPPORTUNITIES.

Under the theme “Innovative Financial Services to Promote Production Capacity Co-operation between China and Portuguese-speaking Countries”, high-level government officials, entrepreneurs and representatives from the banking and financial sectors in Mainland China, Macao and Portuguese-speaking Countries discussed new ways of boosting co-operation in the areas of production capacity, finance, trade and investment. During the meeting, 17 agreements were signed between China and Portuguese-speaking Countries, including an agreement to formally create the China-Portuguese-speaking Countries Federation of Entrepreneurs. Business-matching and networking sessions were also held. Representatives from enterprises in China and Portuguese-speaking Countries conducted project-matching discussions and completed about 100 business matching sessions.

The China-Portuguese-speaking Countries Federation of Entrepreneurs is an institutional platform to promote co-operation

In a keynote speech, the People’s Republic of China Vice- Minister of Commerce Gao Yan said that, via the organisation 中葡合作 China & PSCs Co-operation of the five editions of the Ministerial Conferences of China-Portuguese-speaking Countries, China and Portuguese-speaking Countries have joined hands and co-operated to cope with difficulties and challenges, and further deepened economic and trade co-operation in different fields through the mechanism of the Forum Macao. China and Portuguese-speaking Countries have established closer trade relationships that boosted investment and co-operation and fostered more diversified co-operation between the two.

She made three suggestions on further strengthening cooperation between China and Portuguese-speaking Countries. Firstly, strengthening bilateral trade and investment cooperation on the foundation of enterprises collaboration. Secondly, focusing on production capacity co-operation and financial collaboration to enhance the level of trade and economic reciprocation. Thirdly, continue to deepen cooperation between China and Portuguese-speaking Countries in various aspects by utilising the Macao platform.

Speaking at the event, the Chairman of the China Council for the Promotion of International Trade (CCPIT), Jiang Zengwei, said the body would seek to launch more projects in collaboration with entities from Portuguese-speaking Countries.

Mr Jiang said the Federation would help to better promote exchanges between companies and entrepreneurs, creating more investment opportunities and supporting mutual development.

The Federation will act as a platform to exchange market information and share experiences between entrepreneurs, but also with government institutions. The plan is for the Federation to provide legal consultancy, assist in handling economic and commercial disputes, publish research reports, and organise business delegations and trade missions. CCPIT, Macao Trade and Investment Promotion Institute (IPIM) and the Permanent Secretariat of Forum Macao will support the Federation’s day-to-day operations.

IPIM’s President Jackson Chang said the Entrepreneurs and Financiers Meeting helped promote business co-operation between China and Portuguese-speaking Countries.

Mr Chang also said in his speech that the collaboration between China and Portuguese-speaking Countries has developed rapidly over the last decade, achieving outstanding results. In the future, co-operation in finance will be a significant part of the commercial and trade relationship between the two sides, with Macao playing an important role giving the unique advantages of its own financial system, he added.

Diversify and expand

Business and trade relationships between China and Portuguese-speaking Countries are much more diverse than a few years ago, says Guinea-Bissau’s Minister of Economy and Finance, Henrique Horta dos Santos.

Bringing the business community together in a Federation will allow businesspeople to “better jointly invest and protect their interests, taking mutual advantage of each other’s benefits,” Mr Santos told Macao Image.

“Only united can we have a path that keeps us together and that can bring benefits to the peoples of these countries.”

In April 2016, Guinea-Bissau hosted the Entrepreneurs Meeting for Commercial and Economic Co-operation between China and Portuguese-speaking Countries. “The meeting was extremely important,” Mr Santos said, referring to the agreements and consensus achieved afterwards.

The meeting in Bissau was also an opportunity to show to Chinese entrepreneurs the potential of the African nation as a destination for investment and what they can expect in terms of benefits, he said.

The President of AICEP Portugal Global, Miguel Frasquilho, believes co-operation between the Mainland and Portuguese-speaking Countries continues to grow and diversify. The head of the Portuguese trade and investment agency says cooperation has branched into other areas, including tourism, culture, fashion, technology, professional services and finance.

“There has been a diversification in the business and trade relationship that we think is very interesting to Portugal, China and Macao,” said Mr Frasquilho.

“There is clearly greater business interest in cooperation between China and Portuguese-speaking Countries. China is a country with a huge market, which opens very interesting opportunities.”

Mr Frasquilho told Macao Image that Macao was a very important link between Mainland China and Portuguese-speaking Countries. “Macao plays a key role and we know there are many Portuguese entrepreneurs that continue to use Macao as the gateway to the Chinese market,” he added.

People’s Republic of China Vice-Minister of Commerce Gao Yan

Chairman of the China Council for the Promotion of International Trade, Jiang Zengwei

Guinea-Bissau’s Minister of Economy and Finance, Henrique Horta dos Santos

President of AICEP Portugal Global, Miguel Frasquilho

Shared efforts

Trade relations might gain momentum with the establishment of the Federation “if it is well understood and managed by all parties,” according to Angola Chamber of Commerce and Industry Secretary General António Tiago Gomes. “For us, the Federation means combining efforts.”

Mr Gomes said Angola was looking to diversify its sources of revenue. “We want to develop other economic activities and this implies know-how and financial resources. So, our government, and we, the private sector, will be looking for solutions in these two directions,” Mr Gomes said, adding that countries such as China, Portugal and Brazil could help Angola achieve its goal.

Macao plays a key role and we know there are many Portuguese entrepreneurs that continue to use Macao as the gateway to the Chinese market.

Mr Gomes said Macao has played an important role as a platform and would continue to do so. The territory’s role as a bridge between China and Portuguese-speaking Countries has been especially important in the field of communication, as language “has been a big barrier,” he explained.

Macao businesspeople also have much to gain from the Federation, said Macao Chamber of Commerce Vice- President Vong Kok Seng. Mr Vong said having the Federation’s secretariat in Macao would strengthen the city’s role as a platform between Mainland China and Portuguese-speaking Countries.

Mainland companies interested in investing or conducting business in Portuguese-speaking Countries could get help from the Federation to connect with potential partners, as could companies from these countries that plan to invest in the Mainland China.

Under the policies of the Central Government, the Federation could boost further the co-operation and exchanges between entrepreneurs from Mainland China, Portuguese-speaking Countries and Macao, Mr Vong noted.

He added that Macao could participate in the commodity trade between Mainland China and Portuguese-speaking Countries by offering innovative financial services. The Belt and Road initiative could allow Macao to facilitate maritime ties between Mainland China and Portuguese-speaking Countries, including the shipping of goods, he said.