The government of Brazilian President Jair Bolsonaro wants to strengthen and expand trade ties between Brazil and China, which is the message that Vice President Hamilton Mourão will give to Chinese President Xi Jinping at a meeting scheduled for Friday, 24 May, in Beijing.
Angola, under the leadership of President João Lourenço, has been forging “new alliances,” notably with Japan, but continues to prioritise ties with China and the Portuguese-speaking countries, the Economist Intelligence Unit (EIU) said.
The Portuguese-speaking countries (PSCs) will play a key role in the future of Macau outlined in the Greater Bay Area (GBA) Plan of the Central Government of China.
Mozambique has exceeded expectations in terms of global connectivity, according to the latest ranking by multinational DHL, in which Timor-Leste was the only Portuguese-speaking country included to increase competitiveness compared with the previous year.
China and the Portuguese-speaking countries were linked in 2018 by a number of new ventures, and the process of getting closer continues in the new year under the New Silk Road.
Brazil, Mozambique and Cabo Verde (Cape Verde) have fallen back a few places in the latest edition of the Global Competitiveness Index of the World Economic Forum, in which Angola is in the lowest position among Portuguese-speaking countries.
Economic relations with Africa have been losing importance for Brazil’s governments, which ignore the continent’s potential, unlike China and other emerging economies, according to the Brazil-Africa Institute.
Macau’s Banco Nacional Ultramarino (BNU) is looking to increase support for the more than 40,000 small and medium-sized enterprises (SMEs) in the territory, said Carlos Cid Álvares, the bank’s chief executive told the Tribuna de Macau newspaper.
The reform and opening of China in the last four decades have been “extremely successful,” the head of Brazil’s Trade and Investment Promotion Agency (Apex-Brasil) told Xinhua news agency.
Trade between China and the Portuguese-speaking countries has increased 11-fold since Forum Macau was set up in 2003, and the Forum has played a “very important role” in Chinese globalisation, said China’s Deputy Minister of Commerce.
China’s direct investment in Portuguese-speaking countries has reached US$$50 billion, Macau Forum Secretary-General Xu Yingzhen said in an interview with local Portuguese-language newspaper Tribuna de Macau.
Business projects involving China and Portuguese-speaking countries have been receiving official Chinese funding, but the deepening of this cooperation in the “era” of the New Silk Road requires innovative financial mechanisms, the president of the Fund for Cooperation and Development between China and the Portuguese-speaking Countries said in Lisbon.
China has announced that it intends to extend the “Belt and Road” initiative to Brazil and other South American countries in a move interpreted by analysts as a way of taking advantage of the US retreat in its relationship with the region.
Brazil and Cabo Verde (Cape Verde) will be two of the first countries visited by the new President of Angola, João Lourenço, in a clear sign of the importance of strategic relations with both Portuguese-speaking countries, particularly in economic terms.
The Asian Infrastructure Investment Bank (AIIB), which includes Timor-Leste (East Timor) and Portugal among its members, intends to strengthen its intervention in Africa and South America, said the chairman of the financial institution based in China.
The business environment improved from 2016 to 2017 in all Portuguese-speaking countries, among which Cabo Verde (Cape Verde) was the best positioned and Angola the one that rose the most, according to the classification in the World Bank “Doing Business” report for 2018.
Brazil’s trade with African countries, which worsened in recent years after reaching a record high in 2008, is recovering, in a new diplomatic context, according to figures from the Brazilian Ministry of Industry, Trade and Services.
The economies of the Portuguese-speaking countries, with the exception of Mozambique, recorded slight gains in the Global Competitiveness Index 2017-2018, released last week.
Tourism is growing significantly in Africa and Mozambique is one of the destinations that has benefited from the increase in the number of foreign tourists, according to figures released by the Euromonitor International consultancy.
The availability of European funds to finance cooperation projects in Africa is large, but there is a lack of well-prepared projects, particularly in Portuguese-speaking African countries, according to the president of the Portuguese Development Finance Society (Sofid).