Cabo Verde

Trade between China and Portuguese-speaking countries exceeds US$360 billion in three years

12 October 2016

The cumulative value of trade between China and the Portuguese-speaking countries exceeded US$360 billion between 2013 and 2015, China’s Deputy Minister of Commerce recalled on Wednesday at a meeting of businesspeople.

Chinese fund for investment in Portuguese-speaking countries will be based in Macau

12 October 2016

The headquarters of the US$1 billion fund for investment in Portuguese-speaking countries announced by China in 2013 will be transferred from Beijing to Macau to facilitate contact with potential interested parties, the President of the Fund said on Wednesday in Macau. The information was provided to Portuguese news agency Lusa by the president of the Fund for Development Cooperation between China and the Portuguese-speaking Countries, Chi Jianxin, on the sidelines of the Conference of Financial Area Businesspeople and Officials that was part of the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Forum Macau), which ends on Wednesday.

China provides Forum Macau countries in Africa and Asia with US$600 million

11 October 2016

China will grant at least 2 billion yuan (US$300 million) in preferential loans to Portuguese-speaking African and Asian countries that are members of Forum Macau, China's prime minister announced in Macau.

Ministers of the Portuguese-speaking countries in Africa, Asia and South America announce specific areas for development

11 October 2016

The Prime Minister of Cabo Verde (Cape Verde) on Tuesday said that his country is available and committed to creating the basis for being an international service centre, supported by a rapidly growing tourist market and positioning that creates conditions to access markets in Africa, Europe and the Americas. Jose Ulisses Correia e Silva, who was speaking at the opening session of the 5th Ministerial Conference of Forum Macau, noted that tourism and the maritime economy are areas of economic growth in Cabo Verde, and are two sectors "that amplify our small domestic market abroad and have a leverage effect on other sectors of the economy."

Forum Macau has had remarkable results, China’s Trade Minister says

11 October 2016

The Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau) has achieved remarkable results, said China's Commerce Minister, Gao Hucheng, in a speech on Monday in Macau. Addressing the members of the delegations that since Tuesday have been taking part in the 5th Ministerial Conference of Forum Macau, the minister recalled that since 2003 the Forum had made it possible to set up various forms of cooperation as well as mutual understanding between China and the Portuguese-speaking countries.

Delegation of Guinea-Bissau is first to arrive in Macau

10 October 2016

The delegation of Guinea-Bissau, headed by Prime Minister Baciro Dja, was the first to arrive in Macau, on 7 October, in order to attend the 5th Ministerial Conference of Forum Macau, said the Government Information Bureau (GCS). Four delegations arrived in Macau on Sunday - Brazil, headed by the Minister of Industry, Trade and Services, Marcos Pereira, Cabo Verde (Cape Verde), led by Prime Minister Jose Ulisses Correia e Silva, Mozambique, headed by Prime Minister Carlos Agostinho do Rosario and Timor-Leste (East Timor), led by the Minister of State, Coordinator of Economic Affairs and Minister of Agriculture and Fisheries, Estanislau Aleixo da Silva.

Cabo Verde delegation to Forum Macau conference looks for business partnerships

7 October 2016

The Cabo Verde (Cape Verde) delegation to the 5th Ministerial Conference of Forum Macau will focus on establishing business partnerships, moving forward with some projects that already have agreements in principle with China, said the Minister of Economy. "We will seek to move on from the cooperative relationship that has been very important and is well established towards a partnership relationship," said Minister José Gonçalves, a member of the Cape Verdean delegation to the conference.

Macau Forum calls for private partnerships to strengthen China’s relations with Portuguese-speaking countries

6 October 2016

The secretary-general of the Macau Forum, Xu Yingzhen said on Wednesday she hoped that the future development of cooperation between China and Portuguese-speaking countries would involve strengthening private partnerships in all economic and financial sectors.

Five prime ministers to attend the opening of the 5th Ministerial Conference of the Forum in Macau

5 October 2016

China's Prime Minister Li Keqiang, will preside over the opening of the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries to be held on 11 and 12 of October in Macau, the Xinhua news agency reported on Monday.

Portugal is the most competitive country in the Portuguese-speaking world

29 September 2016

Portugal is the most competitive country among the four Portuguese-speaking nations included in the Global Competitiveness Report 2016/2017 prepared by the World Economic Forum. Portugal, which is in 46th place, but which fell six places in relation to the 2015/2016 list in the report on 2015/2016.

Cabo Verde and European Union to sign development support programme

27 September 2016

Cabo Verde and the European Union (EU) will sign on 17 October in Brussels the agreement on budget support for the island country from the 11th European Development Fund, the EU’s ambassador in Cabo Verde announced on Monday in Praia. Portuguese diplomat José Manuel Pinto Teixeira specified that the agreement will be signed by Cabo Verdean Prime Minister Ulisses Correia e Silva after a meeting with European Commission President Jean-Claude Juncker during the EU/Cabo Verde summit meeting in the second week of October.

Cabo Verde is expected to receive more than 650,000 tourists in 2016

26 September 2016

Cabo Verde (Cape Verde) is expected to receive more than 650,000 tourists in 2016, according to the Central Tourist Authority, whose president, Gil Évora, based this projection on the figures recorded in the first and second quarters. The archipelago received 323,000 tourists in the first half of 2016, an annual increase of 15.9%, and in the second quarter this figure totalled 132,400 tourists, 13.9% more than in the same period of 2015.

IMF advises Cabo Verde to reduce public debt

22 September 2016

The government of Cabo Verde (Cape Verde) should promote fiscal consolidation, reduce public debt and make the economy grow, said on Wednesday in Praia the head of the mission of the International Monetary Fund (IMF) that visited the archipelago. Ulrich Jacoby noted as negative factors for the economic development of Cabo Verde the occurrence of five years of weak economic growth, the archipelago's dependence on the euro and the economic crisis affecting the Eurozone.

Macau to build centre to promote China’s relations with Portuguese-speaking countries

15 September 2016

Macau Chief Executive Fernando Chui Sai On, said in Lisbon that his government is studying the creation of a complex in Macau which will incorporate the various initiatives that are underway to promote Macau as a platform between China and Portuguese-speaking countries . According to a statement from the Government Information Bureau (GCS), the centre will be housed in a single building and bring together interests in economic and commercial areas, offering services for companies, organisation of fairs, meetings and cultural exhibitions and professional training.

Trade between China and Portuguese-speaking countries contracts by 12% from January to July

8 September 2016

Trade between China and the Portuguese-speaking countries fell 12.25% year on year from January to July 2016 to US$51.5 billion, according to official figures released by the Macau Forum.

Brazilian group Oi sells stakes in Angola, Cabo Verde and Timor-Leste

8 September 2016

The legal recovery plan presented by the board of Brazilian telecommunications group Oi includes the sale of shares previously held by Portugal Telecom in Angola, Cabo Verde (Cape Verde) and Timor-Leste (East Timor), the Portuguese press reported. The plan was approved by the board of Oi, but has yet to be approved by the judge responsible for bankruptcy proceedings and to be negotiated with creditors as it involves a debt of 65.4 billion reais (US$20.4 billion).

5th Macau Forum Ministerial Conference held in October

6 September 2016

The 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau) will take place on 11 and 12 October 2016, said the Government Information Bureau (GCS).

Government authorises Cabo Verde airline to take on loan

30 August 2016

The Government of Cabo Verde has authorised a loan of 100 million escudos (US$1 million) that airline Transportes Aéreos de Cabo Verde (TACV) plans to take on from Banco Cabo-Verdiano de Negócios (BCN). The loan will cover TACV's commitments related to contracts signed with Everjets and Elix Aviation Capital, said the government resolution published in the Official Bulletin and cited by weekly newspaper A Semana.

Portuguese-speaking countries present at the 52nd edition of the Maputo International Fair

29 August 2016

The president of the Business Confederation of the Community of Portuguese Speaking Countries (EC-CPLP), Salimo Abdula, said the 52nd edition of the Maputo International Fair (Facim) will be an opportunity to show that Mozambique plans to replace imports with exports. Abdula gave assurances that Facim Moçambique is another opportunity to receive new technologies from different parts of the world, but especially to showcase available resources, which when they are explored, worked and processed in a sustainable way can generate employment and economic growth.

Municipalities will be strategic partners in promoting Cabo Verde

29 August 2016

The new president of Cabo Verde TradeInvest, Ana Lima Barber, said municipalities are "strategic partners to promote the new image of Cabo Verde (Cape Verde) abroad" speaking recently at the inaugural session of TradeInvest's board. Charting a scenario where the State's domestic saving "is currently below 10% of GDP, domestic demand is much higher than what we produce, the external deficit is around 35% of GDP," among other unfavourable aspects, Lima Barber said financing of the economy was the economy's main challenge.

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