China wants trade with Portuguese-speaking nations to total US$33 billion by year’s end

25 September 2006

Macau, China, 25 Sept – China wants total trade of US$33 billion with Portuguese-speaking countries by the end of 2006, the Chinese Trade Minister, Bo Xilai said in Macau Sunday.

Speaking at the inaugural ceremony of the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau), Bo highlighted the development of economic and trade relations with Portuguese-speaking countries in the last three years and set the goal for 2006.

“We want to reach US$33 billion in trade,” he said.

In the first six months the year trade between China and Portuguese-speaking countries totaled US$11.067 billion, or 68 percent more than in the same period of 2005., according to official figures.

In 2004, which was the first complete year after the creation in October 2003 of the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries, trade between them totaled US$18.77 billion, or 66 percent more than in 2003.

In 2005 trade increased by 27 percent against 2004 to US$23.19 billion.

China’s largest Portuguese-speaking partner is Brazil, which had trade of an estimated US$9.3 billion in 2005 and plans to reach US$16 billion in 2006.

As well as this, and according to figures published at the opening of the Forum by Ivan Ramalho, Brazilian Executive Secretary of the Ministry of Development, Industry and Commerce, Brazil’s trade with Portuguese-speaking countries totaled US$1.4 billion, a figure which the country’s government would like to increase to US$2.3 billion at the end of this year.

The 2nd Ministerial Meeting of the Forum for Economic and Commercial Cooperation between China and the Portuguese-speaking Countries, began Sunday morning in Macau and will last for two days. (macauhub)

MACAUHUB FRENCH