Macau and Cape Verde to host economic meetings with trade at record levels

19 May 2008

Macau, China, 19th May – Macau and Cape Verde will, over the next few weeks, stage meetings of economic agents of China and the Portuguese-speaking world, whose trade levels are reaching record highs that continue to climb vigorously.

The most recent statistics from Chinese customs indicate that in the first two months of the year Portuguese-speaking countries and China traded goods and services to the value of US$9.377 billion, 88.6 percent more than for the same period last year.

Chinese exports to Portuguese-speaking countries increased 105.5 percent, to US$2.893 billion, though imports are still worth more – US$6.483 billion, up 59.2 percent on the same period last year
Brazil and Angola are still the main partners within this group of countries and there are no signs of a slowdown in growth.

In the case of Brazil trade increased by 73.7 percent to US$5.47 billion, with imports (3.21 billion) worth more than exports (2.25 billion)
Angola, China’s biggest oil supplier, recorded the second highest increase – 146.9 percent (to US$3.52 billion) with imports and exports both rising by three-figure percentage points.

The biggest increase was in trade with Sao Tome and Principe – 464.8 percent – though the actual figures are low (US$460,000).

Cape Verde recorded the third biggest increase – 128 percent – after Brazil and Guinea Bissau (45.5 percent).

The exceptions were Portugal (a negligible increase in trade), Mozambique (down 8 percent) East Timor (down 50.9 percent).

This is the backdrop against which Macau this week hosts the China-Africa Private Enterprises Co-operation Forum, organized by the Macau Trade and Investment Promotion Institute (IPIM) and the China-Africa Business Council.

Macau’s role in economic and trade cooperation between private enterprises of China and Portuguese-speaking African countries will be highlighted during the Forum, which will also bring together tea producers and traders who will debate current trade between China and Africa and its future development.

Macau could, says IPIM, have an important role in the “current development of tea trade, within the scope of economic co-operation between China and African countries”, namely as a platform for market information and exchange for private enterprises in China.

Hu Deping, President of the China-Africa Business Council, Mao Iao Lai, President of the Macau China-Africa Business Council and the UNDP Deputy Resident Representative in China, Ranaud Meyer will be among those attending the Forum.

Next week, from 28 to 30 May, the city of Praia, Cape Verde will host this year’s (the fourth) Meeting of Business People for Economic co-operation between China and Portuguese-speaking countries, which is hosted on a rota basis by the countries subscribing to the Multilateral Cooperation Protocol.

Organised by the Cape Verdean Investment Agency, by the CCPIT (China Council for the Promotion of International Trade) and by IPIM, the event’s objective is to boost cooperation and trade between China and the Portuguese-speaking world.

In particular, the aim is to identify business opportunities in the areas of trade, investment, technological cooperation, financing and the establishment of joint ventures between business partners of the participating countries. (macauhub)