Portuguese and China set up Portuguese product distribution center in Macau

22 September 2006

Macau, China, 22 Sept – Business associations and financial groups from Portugal, Macau and China are scheduled to sign a multilateral agreement Saturday to create a distributions center for Portuguese products in China, officials have said.

The center may be based in the Cross-border Industrial Park built between Macau and mainland China and overall investment in the project is expected to be around 5 million euros.

The center, which will be managed by state Chinese group Nam Kwong, is expected to have its action plan defined by the end of the year as well as its shareholders.

As well as its logistics hub, the center will have delegations in Macau and in the Great Pearl River Delta, which includes eight provinces, one autonomous region and the two special administrative regions of Macau and Hong Kong, and in other cities such as Shanghai.

The agreement for the center will be signed by Nam Kwong representatives, as well as representatives of Portuguese export promotion agency, ICEP, Portuguese business and industrial associations, the Millennium BCP bank and the Espírito Santo group.

The agreement will be signed after the opening of ICEP’s Portuguese Business Center, which will be set up at the headquarters of the Institute for Promotion of Trade and Investment (IPIM), to provide support to Portuguese business people who travel to Macau.

As well as the business center, ICEP will also sign a cooperation protocol with its counterpart from the mainland Chinese province of Guangdong (CCPIT) aimed at “developing reciprocal activities for economic and commercial promotion in Portugal and Guangdong province,” which is considered to be the industrial engine behind the Chinese economy. (macauhub)