Macau government supports free trade and opening up of the economy

24 February 2006

Macau, China, 24 Feb – Macau’s Secretary for the economy and finance, Tam Pak Yuen, re-stated Macau’s support Thursday for free trade and policies of economic openness.

Tam, speaking during the opening session of the Asian Trade Promotion Forum (ATPF), attended by representatives of trade and investment institutions from 16 member countries and territories, said that the World Trade Organization, “has already recognized that the regime (in Macau) as being one of the most open in the world.”

“The importance o the traditional role of trade in Macau’s development, where the net value of exports accounts for over 47 percent of GDP, justifies its promotion as having a central status in the government’s economic policies,” he added.

Tam also said that “the prospects for the future point to Macau gradually becoming a regional center for trade and entertainment.”

The ATFP was set up in 1987 and has 21 member territories and countries. (macauhub)