Macau should be bridge between Chinese SMEs and Portuguese-speaking markets

3 October 2006

Beijing, China, 03 Oct – Macau should focus on its role of providing a bridge between Chinese small and medium-sized enterprises (SMEs) and Portuguese-speaking markets, the president of the Macau’s Institute for Trade and Investment Promotion said Friday in Beijing.

“Only large state Chinese companies in the oil and construction sectors have direct access to Portuguese-speaking markets, such as Brazil and Angola, said Lee Peng Hong,, who presented the book, “Strategies for Development of the Macau Platform,” together with Jiang Shixue, the vice-president of the Latin American Research Institute for the Chinese Academy of Social Sciences.

“But there are still many small private companies that still have no access. The great majority of companies that want to work with Portuguese-speaking countries have no access or contacts,” Lee told Portuguese news agency Lusa.

In “Strategies for Developing the Macau Platform,” the authors look at the string and weak aspects of Macau’s economy and conclude that the territory should take on a strategic position of cooperation services platform between China and the Portuguese-speaking countries.

The authors of the book also say that Macau’s conditions make it possible to focus on the conventions and exhibitions sector as well as support services for investment and economic cooperation, such as financial and offshore banking services.

The presentation of the book took place a few days after the end of the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau), whose ministerial meeting took place on September 25 and 26.

At forum Macau China committed itself to opening up a credit line of some 800 million yuan to develop infrastructures in Portuguese-speaking countries in Africa and Asia, as well as the aim of doubling trade between the two sides by 2009 and reach total trade of between US$40 and US$50 million. (macauhub)