Forum Macao News

Permanent Secretariat takes part in ‘Entrepreneurs Meeting for Commercial and Economic Cooperation between China and Portuguese-speaking Countries’ in Cape Verde

The Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), Ms Xu Yingzhen, led a delegation to attend the “12th Entrepreneurs Meeting for Commercial and Economic Cooperation between China and Portuguese-speaking Countries”, which was held in Praia, Cape Verde, from June 16 to 18. During the visit, the delegation called at the Chinese Embassy in Cape Verde, government departments of the country and some local companies.

The visit promoted cooperation on capacity production, introduced the function of the China-Portuguese-speaking Countries Cooperation and Development Fund (CPD Fund), and detailed the progress in implementation of the recommendations of the 5th Ministerial Conference of Forum Macao.

Several officials from China and Cape Verde delivered speeches at the opening ceremony of the Entrepreneurs Meeting, including: the Prime Minister of Cape Verde, Mr José Ulisses de Pina Correia e Silva; the President of Cape Verde TradeInvest, Ms Ana Barber; the President of the Macao Trade and Investment Promotion Institute (IPIM), Mr Jackson Chang; the Vice Chairman of the China Council for the Promotion of International Trade, Mr Zhang Wei; the Secretary-General of Forum Macao, Ms Xu Yingzhen; and Deputy Director General of the Department of Taiwan, Hong Kong and Macao Affairs of China’s Ministry of Commerce, Ms Kang Wen. The ceremony was also attended by diplomats from the respective Embassies of Portuguese-speaking Countries in Cape Verde.

The Entrepreneurs Meeting was aimed at exploring fresh economic cooperation opportunities as well as expanding trade and exchange of services between Mainland China and Portuguese-speaking Countries. At the event, four project promotion sessions were held, themed respectively: “Industrialisation”; “Marine Economy and Fisheries Industry”; “Cape Verde: Platform for Business Facilitation between China and Portuguese-speaking Countries”; and “Financing”.

The Entrepreneurs Meeting attracted more than 400 business people and officials from Mainland China, and from Macao, Cape Verde and other Portuguese-speaking jurisdictions. During the event, a total of 10 agreements and memorandums were signed – half of them involving Macao companies.

At the event, Ms Xu introduced the role of Forum Macao and the concept of cooperation on capacity production. IPIM’s Executive Director, Ms Gloria Ung, gave a presentation about the business environment and advantages of Macao. The Managing Director of CPD Fund Management Company, Jin Guangze, explained to participants the application process for requesting financial assistance from the China-Portuguese-speaking Countries Cooperation and Development Fund.

Delegates from the countries and places participating in the Entrepreneurs Meeting took turns to speak about the investment environment of their respective countries, while companies from Mainland China and Macao also shared their experiences on how they utilised Macao’s platform in expanding their businesses in Cape Verde.

Fostering economic and trade ties between China and Portuguese-speaking Countries was the most important mission of Forum Macao, said Ms Xu in her speech. Since the establishment of Forum Macao, the body had been dedicating its efforts to expand the scope of cooperation between the two sides, and using Macao’s advantages as a platform to facilitate the communication and exploring trade opportunities for all parties.

With the effort of all concerned, cooperation ties between China and Portuguese-speaking Countries have been strengthened. Last year, China retained its position as one of the most important trading partners for the bloc of Portuguese-speaking Countries. The amount of trade between the two sides reached nearly US$100 billion. To date, the capital stock of the various investments made by Chinese companies in Portuguese-speaking Countries was approximately US$50 billion; while Chinese companies’ project contracts in these countries were valued at more than US$90 billion.

During the delegation’s visit to the Chinese Embassy in Cape Verde, meetings were held with representatives of the country’s Ministry of Economy and Employment, the Ministry of Foreign Affairs and Cape Verde TradeInvest. During these encounters, the attendees exchanged views on the economic and social development of the participating countries in Forum Macao; and how to boost companies’ investments and strengthen cooperation on capacity production.

The delegates visited a hotel and tourism project in Cape Verde being developed by a Macao company. The delegates also visited a training centre in which a Chinese company had invested. They then went to Sal Island to learn more about its marine economy.

The Entrepreneurs Meeting and the series of visits made in Cape Verde presented a good opportunity for further exchanges and cooperation between companies from Mainland China, Macao and Portuguese-speaking Countries. The activities also enabled companies from Mainland China and Macao to have a better understanding of the advantages in developing businesses in Cape Verde, and to build a closer working relationship with the economic and trade departments of that country. These initiatives additionally would contribute to promoting effectively a closer cooperation in capacity production between Mainland China, Macao and Portuguese-speaking Countries and to achieve mutual benefits by taking advantages of Macao’s unique role as a service platform.