Asia > Eastern Asia > Macau > Economic and trade cooperation between China and the Portuguese-speaking countries

Macau: Economic and trade cooperation between China and the Portuguese-speaking countries


Economic and trade cooperation between China and the Portuguese-speaking nations will be deepened, Chinese Vice Premier Wang Yang guaranteed on Tuesday in Macau, announcing an eight-point plan with specific measures to be implemented between 2014 and 2016.

In the opening speech of the fourth Ministerial Conference of Forum Macau, Wang said that the initial of those measures would be the Chinese government’s granting of subsidised loans worth 1.8 billion yuan (US$293 million) to the Portuguese-speaking African and Asian Forum member nations.

The vice premier next mentioned China’s desire to share with Portuguese language nations the successful experience of its appropriate economic zones and development zones. He announced that Chinese companies would be encouraged, albeit respecting market economy rules, to help promote and create such zones in interested nations.

Three of the eight points set out by Wang Yang focused on teaching and professional training. China will help all the Portuguese-speaking nations from Africa and Asia which are Forum Macau members to build infrastructures such as schools and training centres.

China will invite 2,000 people from those nations, inclunding postgraduate students, to take part in training actions, some of them offered locally. It will as well grant 1,800 scholarships to governments from the Portuguese-speaking African and Asian Forum Macau member nations.

Besides a generic point concerning sectors deemed priority, Wang highlighted the use of Macau as a place for sharing data “in order to create a platform in Macau to promote the interchange of qualified bilingual people and business cooperation in various areas”.

Mozambican Foreign Minister Oldemiro Baloi mentioned that his country has benefited from scholarships in China and Macau, adding that it was necessary to continue paying appropriate attention to sectors that can help increase production and productivity with results that tangibly reduce the dependence of populations.

Baloi said it was the Mozambican government’s firm belief that the private sector plays a crucial role in the country’s development. He referred to the US$1 billion Cooperation Fund for Development between China and the Portuguese-speaking Nations announced in Macau at the third Forum Macau Ministerial Conference, as a lever to “boost private investment and the establishment of public/private partnerships”.

Brazilian Vice President Michel Temer referred in his speech to human resource training, noting that 182 students from Portuguese speaking African nations were part the total of 228 students at the Afro-Brazilian Lusophony Integration University.

Temer said he hoped it would be possible to reach the target of US$160 billion in trade exchanges part Forum Macau member nations by 2016, and announced the creation of a Centre for Trade Services for Small and Medium Sized Companies from the Portuguese Language Nations, to be based in Macau.

Portuguese Deputy Prime Minister Paulo Portas hailed Macau as an significant commercial and services platform and privileged bridge connecting China and the Portuguese-speaking nations. He stressed that “Forum Macau can and should play a crucial role by forming the connection between four continents, from Asia to South America via Africa and Europe”.

The Prime Minister of Guinea-Bissau, Rui Duarte Barros, used his speech to announce that he will place on the schedule of cooperation with China the intention to assure financing by Chinese public and private entities for projects deemed vital for his country’s economy, specifically in the transport, energy, mineral resources, agriculture, fisheries and tourism sectors.

Guinea-Bissau’s government plans to examine with its Chinese counterpart ways to access the financing mechanisms envisaged in the scope of Forum Macau and others meant “to make the announced goals a reality”, he added.

The Vice Prime Minister of East Timor, Fernando La Sama de Araújo, said that China is one of the strong strategic partners for development, adding that his government would like to be able to count on investment from China and the Portuguese language nations to establish appropriate economic zones (SEZs) in Oecusse and Atauro.

Besides the two SEZs, La Sama de Araújo as well mentioned plans to develop the country’s south coast as a sub-regional oil industry hub, inclunding tourism throughout the country.

Angola’s Minister for Justice and Human Rights, Rui Mangueira, noted that his country has focused efforts during 11 years of effective peace on establishing and consolidating a strategic partnership with China.

“Each of our nations has its own skills, experiences and realities to share in the context of this Forum and which are certainly useful for the construction of our common destinies,” Mangueira told the audience at the opening ceremony of the fourth Forum Macau Ministerial Forum.

Cape Verde’s Minister for Tourism, Industry and Energy, Humberto Brito, praised the vital support of China and Macau for the functioning and development of Forum Macau and said his government awaited with great expectation the implementation of the Cooperation Fund for Development between China and the Portuguese-speaking Nations.

“The Fund’s application will promote investment projects, preferably those influencing the creation of wealth and our nations’ increase, involving the respective business communities,” Brito said.

Related Articles
  • Climate change laws around the world

    2017/05/14 There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation. The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.
  • Asia Economic Roundup: July 2016

    2016/07/18 Without a doubt Britain’s decision to abandon the European project will be remembered globally as a wake-up call for political elites around the world. It seems the people chose to go against immediate economic interest and accept an extra financial turmoil in order to address deeply seated social and identity issues. Although Asia’s exposure to the UK is relatively limited and this is not exactly a “Lehman Moment”, nonetheless we can expect a lively debate as policymakers in Asia look for an appropriate response to address the needs of vulnerable households.
  • Chan is also a Deputy Secretary-General (appointed by the Macao Government)

    2015/07/26 Echo Chan Keng Hong is a hardworking Macao resident who has presently assumed the position of Coordinator of the Support Office to the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Nations (Forum Macao). She is the right person in the right place at the right time, as businessmen and colleagues acknowledge. She is discrete but highly focused on getting the job done. In an interview with Macao magazine, it became clear that the civil servant has spent her entire career on work related to Portuguese-speaking nations. Before a director at the Macao Trade and Investment Promotion Institute (IPIM), Chan succeeds Rita Santos, but as well keeps her role as a non-executive director of IPIM.
  • Macau Outlook for 2013-14

    2013/05/15 The country (Macau) is situated in Eastern Asia, bordering the South China Sea and China. Land in Macau is generally flat. Chinese land covers an area of 28.2 square kilometers which is less than-sixth the size of Washington, DC   The climate is subtropical; marine with cool winters, warm summers. Chinese speak Cantonese 87.9%, Hokkien 4.4%, Mandarin 1.6%, other Chinese dialects 3.1%, other 3% (2001 census). Outlook for 2012-13 Fernando Chui was installed as Macau's chief executive in December 2009. During his-year term Mr Chui's major priorities will be to address rising public discontent and tackle corruption. He will as well need to introduce measures to diversify the economy, which has become overly dependent on the gambling sector.
  • Dr. Manuel Joaquim das Neves Director of Macau’s Gaming Inspection and Coordination Bureau

    2012/12/07 How do you explain the growing and resilient economy of Macau, when the world is facing the worst economic downturn?