Brazilian firms will set up in Macau to operate in China

13 August 2009

Rio de Janeiro, Brazil, 13 Aug – The chairman of the Brazilian Agency for the Promotion of Exports and Investments (Apex-Brazil), Alessandro Teixeira, has said that Brazilian import and export companies will establish themselves in Macau in the coming years.

Speaking in Rio de Janeiro at the Meeting for Entrepreneurs for Economic and Trade Cooperation between China and Portuguese Language Countries, Teixeira said these closer relations are “inevitable.”

The Apex Brazil chief also highlighted the fact that Macau’s economy has grown by 27% in the past year, one of the biggest expansions in the world. He said too that a business mission led by the Sao Paulo Commercial Association, Brazil’s richest state, went to Macau in July to sound out future investment opportunities, particularly in the area of services where the Chinese territory has a proven track record.

Brazil’s main exports to China are soy beans, iron ore and oil derivatives. These three areas represented sales of US$ 7.9 billion in the first six months of this year. China exports a wide range of products to Brazil including electrical goods and textiles.

Lee Peng Hong, chairman of the Institute for the Promotion of Trade and Investment of Macau, described the Meeting for Entrepreneurs for Economic and Trade Cooperation between China and Portuguese Language Countries as “a chance to update strategies of relations between China and the CPLP.”

“It’s important for the countries to proceed together to find solutions together for their most immediate needs and in the long term,” said Lee. (macauhub)

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