Macau signs agreement in Beijing to strengthen its role in the Belt and Road initiative

7 December 2018

The agreement to support Macau’s participation in the construction of the “Belt and Road” initiative was signed on Thursday in Beijing by Chief Executive Chui Sai On and the Director of the National Development and Reform Commission He Lifeng, the Chinese government spokesman said.

The document aims to support the territory to create an important modal transport, trade and logistics centre within the Maritime Silk Road in the 21st Century, to take part in regional trade and investment agreements and other international non-sovereign professional organizations and drive the construction of the World Tourism and Leisure Centre.

It is also established that Macau will organise the liaison between the Platform for Services for Commercial Cooperation between China and Portuguese Speaking Countries and the Belt and Road initiative.

The document also provides facilities for Macau to support the construction and participation of the territory in the Belt and Road initiative, increasing its competitiveness, generating new advantages and more development spaces.

The agreement gives priority to areas related to financial, economic, commercial and cultural cooperation and exchange, and will further boost the construction of the Guangdong-Hong Kong-Macau Greater Bay.

The statement said that Macau will provide investment and financing services to the Belt and Road initiative, to become a Service Platform for Trade Cooperation between China and Portuguese-speaking Countries, and to encourage the internationalisation of the Chinese currency. (macauhub)