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MACAO MOVING TOWARDS BECOMING THREE FUNCTIONAL CENTRES AND PLAYING THE ROLE AS A PLATFORM BETWEEN CHINA AND PORTUGUESE-SPEAKING COUNTRIES
The 4th Ministerial Level Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao) and the Ceremony of the 10th Anniversary of the Establishment of the Forum were successfully held in Macao on 5 November 2013. At the conference, Vice Premier Wang Yang of the State Council accredited Macao’s role as a trade and economic platform between China and Portuguese-speaking countries (PSCs) and said that the Central Government will fully support Macao moving towards becoming “a commercial and trade service centre for SMEs of PSCs”, “a food product distribution centre for PSCs” as well as “a centre for conventions and exhibitions for economic and trade co-operation between China and PSCs”. Eight new measures were put in place to support the development of Portuguese-speaking countries, including the provision of concessional loans totalling of RMB1.8 billion.
IMPLEMENTING EIGHT MEASURES AND SUPPORTING THE DEVELOPMENT OF MACAO INTO THREE FUNCTIONAL CENTRES
During the previous Conference, the six measures announced by China were basically implemented; the China Government will implement another eight new and more effective measures over the next three years (2014 to 2016). The measures include:
I. Chinese government will provide a total of RMB 1.8 billion in concessional loans to Asian and African PSCs to support their economic and social development. Such loans will be used for priority infrastructure and production projects.
II. The Chinese government is willing to share its experience with PSCs in the setting up of special economic and development zones. Chinese enterprises will be encouraged to set up overseas economic and trade co-operation areas in interested PSCs according to the principle of independent decision-making and market-driven operation and work with the host countries to advance the development of the co-operation zones.
III. The Chinese government will help to build an education and training facility, provide a set of radio, TV and media equipment, as well as develop a solar power lighting project in each of the Asian and African PSC members of the Forum.
IV. The Chinese government will strengthen its co-operation and exchanges with PSCs in the development of human resources on the basis of fully leveraging the advantages of each member of the Forum. China will arrange for the training of 2,000 professionals of Asian and African Portuguese-speaking members of the Forum in various areas in China, including on-the-job training (OJT) for postgraduates. In view of the actual need of PSCs, China will actively use Macao as a platform and carry out training activities in PSCs.
V. The Chinese government will provide 1,800 scholarships to Portuguese-speaking members of the Forum and encourage and support student exchanges between PSCs and China.
VI. The Chinese government will continue with its healthcare and medical exchanges and co-operation with members of the Forum and will send healthcare professionals on 210 visits to Asian and African Portuguese-speaking members of the Forum.
VII. To set up a communication, interaction and information sharing platform for bilingual professionals and enterprises from China and PSCs so that they can have closer exchanges and co-operation in various fields. The information sharing platform will be located in Macao.
VIII. In accordance with the purpose of the Forum of promoting co-operation and common development of member states and fully respecting the wishes of the member states, the Chinese government will prioritise areas such as education and training, agriculture, environmental protection and new energy to explore tri-partite co-operation with PSCs so as to jointly promote the economic growth of member states.
MACAO PLAYS THE ROLE AS A UNIQUE SERVICE PLATFORM
Ten years after the establishment of the Forum, there has been rapid growth in the trade and investment development of China and PSCs. In 2003 when the Forum was first held, trade volume between China and PSCs only totalled at US$10 billion, while in 2012, the trade volume increased to nearly US$130 billion. Enterprises invested by PSCs in China have grown from 406 in 2003 to 811 in 2012, with China’s accumulated investments in PSCs amounted to nearly US$30 billion. In addition, the co-operation mechanism has been gradually enhanced. Thanks to the concerted efforts of the attending governments, decision-making mechanisms such as a ministerial-level conference and senior official meetings have been set up. Three Action Plans for Economic and Trade Co-operation have been drafted and effectively implemented. Nine Business Economic and Trade Co-operation Seminars were held and the Co-operation and Development Fund between China and PSCs was established and is now in operation.
Macao’s exceptional st rengths in language, culture and its geographical location play a vital role in fostering trade and economic collaboration between China and PSCs.
NEW ACTION PLAN TO PROMOTE COLLABORATION
After the 4th Ministerial Level Conference of the Forum, representatives of China and PSCs signed the Action Plan for Economic and Trade Co-operation 2014-2016 (the Action Plan) and held press conference. The Guidelines mainly cover three aspects:
i) Establish new goals for bilateral trade and investment: The Guidelines say that China and PSCs will work hard to increase trade to US$160 billion by 2016 and increase bilateral investment in the next three years;
ii) Further enrich the content of practical co-operation: for the first time mentioning reliance on companies to build economic and trade co-operation; enhancing collaboration in environmental protection especially clean energy; mutual importation of a certain number of films and TV programmes. What is more, it further emphasises the improvement of the investment environment; specifically promoting infrastructure projects and plans via the Forum’s platform; it also mentions the enhancement of educational co-operation in the Chinese and Portuguese languages and deepening of collaboration and development in human resources; it further emphasises the enhancement of co-operation between financial institutions and advertising the Co-operation and Development Fund between China and PSCs.
iii) Further use Macao’s role as a platform: It clearly mentions promoting professional conventions and exhibitions for PSCs held in Macao, studying the establishment of a business and trade service centre for SMEs from member countries of the Forum, a distribution centre of food products from PSCs and a centre for conventions and exhibitions for economic and trade reciprocation between China and PSCs, promoting Macao as a commercial arbitration centre for companies from China and PSCs.
IPIM’S EFFORTS IN PROMOTING TRADE AND ECONOMIC CO-OPERATION BETWEEN CHINA AND PSCS
Over the years, IPIM has been actively promoting trade and economic networking and co-operation between mainland China, Macao and PSCs, organised site visits to PSCs, participated in exhibitions and jointly organised entrepreneur delegations with mainland trade and economic departments to visit PSCs, organised trade and economic co-operation seminars between mainland China, Macao and PSCs, assisted Macao and mainland enterprises to conduct business matching with PSCs enterprises. For instance, IPIM has organised Macao entrepreneur delegations to visit various countries and participated in a variety of events, including the Entrepreneurs Meeting for Commercial and Economic Co-operation between China and Portuguese-speaking Countries in Angola, Brazil, Cape Verde, East Timor, Mozambique and Portugal, and participated in fairs and exhibitions namely FACIM in Mozambique, FILDA in Angola, SISAB in Portugal and ABF Franchising Expo in Brazil.
IPIM has also signed agreements with various PSCs trade promotion organisations to establish co-operation mechanisms for trade promotion and information exchanges, focusing on inviting PSCs officials and entrepreneurs to take part in Macao International Trade and Investment Fair (MIF) and Macao International Environmental Co-operation Forum and Exhibition (MIECF). Also, to assist PSCs enterprises to explore the Mainland market, PSCs trade promotion organisations were invited to organise enterprises and join IPIM’s delegations to participate in Mainland conferences and exhibitions including PPRD Regional Co-operation Forum and Fair, Expo Central China, China International Fair for Investment and Trade (CIFIT), as well as themed exhibitions such as a food fair and wine expo, to enhance mutual understanding and assist the PSCs entrepreneurs to conduct business matching with Mainland counterparts and fully utilise Macao’s role as a trade and economic co-operation service platform between China and PSCs.
Important Notice
All information is for reference only. While every effort is made to ensure the accuracy of the information, IPIM will not be held responsible or be liable for failing to guarantee the accuracy of any information provided, nor for any damage caused by inaccurate information or omissions.
