IPIM and Macau Forum promote business in Timor-Leste

6 November 2015

Timor-Leste (East Timor) was the subject of a meeting Thursday that aimed to consolidate Macau as a service platform for economic and trade cooperation between China and the Portuguese-speaking countries, reported the Macau Forum.

The meeting, which also sought to deepen regional economic cooperation and support small and medium enterprises in Macau and neighbouring regions in their knowledge of the markets of the Portuguese-speaking countries, was organised by the Macau Institute for Promotion of Trade and Investment (IPIM) together with the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau).

The event was attended by over 60 representatives of economic and commercial entities, entrepreneurs and investors of general trade industries, retail, e-commerce, translation, banking, law, education, and other areas of business.

The executive director of IPIM, Glória Batalha Ung, said that from January to August, trade between China and Timor-Leste totalled US$56 million, representing an increase of 52 percent over the same period last year, with China’s exports including electrical machinery, machinery, automobiles, iron and steel.

The delegate of Timor-Leste at the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), Danilo Henriques, gave a presentation on the investment climate and market opportunities in Timor-Leste as well as on the “Single Window” service for incorporation of companies and exemption measures of customs duties and taxes for periods between 5-10 years depending on the location of the investment.

There was also a presentation of typical products from Timor-Leste, including coffee, chocolate, coconut milk, salt and handicraft items, so that event attendees could increase their knowledge of Timor-LEste products and identify opportunities for business. (macauhub/MO)

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