The Macau Special Administrative Region (MSAR) has been effective in its role as a platform in the expansion of economic and business relations between China and Portuguese-speaking countries, according to officials of the Macau SAR and China.
Ding Tian, Deputy Secretary-General of Forum Macau (nominated by the People’s Republic of China), said the development of Sino-Lusophone trade relations was “excellent” at the latest Business Meeting for Economic Cooperation between China and the Portuguese-Speaking Countries, which took place on 8 and 9 July in São Tomé, the capital of the São Tomé and Príncipe archipelago.
The value of trade between China and the Portuguese-speaking countries reached a record US$147.25 billion in 2018, making China the largest partner and also the market where exports from those countries are growing the most.
Ding Tian also said China’s business investment in several sectors of Portuguese-speaking countries exceeded US$50 billion, while the portfolio of Chinese companies in those markets reached US$90 billion.
The figures “show the great potential of economic and trade cooperation in China and the Portuguese-speaking countries,” said the Deputy Secretary-General of Forum Macau at the opening of the São Tomé meeting, attended by nearly 300 businesspeople.
Also at the opening of the São Tomé Meeting, the president of the Macau Trade and Investment Promotion Institute (IPIM), Irene Va Kuan Lau, stressed the “great relevance” of Macau as a platform “in the opening of China to the outside world.”
This role, she said, is the result of the specific characteristics of the Macau SAR, such as being bilingual (Chinese and Portuguese), the excellent business environment, the provision of professional services in the legal and e-commerce areas, as well as existing arrangements to avoid double taxation, in particular with Cabo Verde and Portugal, as well as the tax advantages granted by the Macau SAR government to income from Portuguese-speaking countries.