China and Portuguese-speaking countries want to double trade and investment

26 September 2006

Macau, China, 26 Sept – China and the countries that have Portuguese as an official language concluded Monday in Macau the second Ministerial Conference of the “Forum for Economic and Trade Cooperation” with the aim of doubling trade and investment over the next three years.

The action plan signed by ministers from China, Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and East Timor, outlined greater cooperation for the next three-year period with the main objective of boosting trade, which this year is expected to total US$33 billion, to US$50 billion and doubling multilateral investment.

According to Chinese minister of Trade, Bo Xilai, the Forum made “significant advances” in the relations between China and the Portuguese-speaking countries but that there was “still room” for cooperation to increase.

Highlighting the fact that the group is “focused on fulfilling the objectives outlined,” Bo said that all the countries aimed to eliminate poverty and promote harmonious development and thanked the Macau Government for its support and enthusiasm in organizing the meeting.

In the plan for the next three years, along with economic and commercial cooperation, the ministers decided to also include “intergovernmental cooperation, trade, investment, business, agricultural and fishing, construction of infrastructures, natural resources and development.”

The ministers also reiterated that “Macau should continue to actively carry out the role of platform to boost economic and trade cooperation between China and the Portuguese-speaking countries.

The plan also stipulates that a third ministerial conference of the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries will be held in 2009 in Macau. (macauhub)