Macao, the Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries

As one of the concurrent activities of the “6^th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)”, the “Conference of Entrepreneurs”, will take place on 23 April. With the theme “Promoting the New Trends of Digital Transformation and Sharing the New Opportunities Presented by Green Development”, it aims to support companies to take advantage of new trends in digital transformation and green development, as well as deepen Macao’s functions as a platform connecting China and Portuguese-speaking countries (PSC). The number of representatives from PSC trade promotion organisations and companies increased by more than 40% compared to the previous edition. Representatives from São Tomé and Príncipe and Equatorial Guinea were added to the list of participants and for the first time, delegations from the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Co-operation Zone in Hengqin will be present, demonstrating the strong momentum of regional co-operation.

Meeting after eight years: two “first times”, one “addition” and great “enthusiasm”

The “Conference of Entrepreneurs” featured two “first times”, one “addition” and with great “enthusiasm”: For the first time, the event is held at the Complex of Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries. The construction of the Complex was one of the important initiatives of the Macao SAR Government to help deepen Macao’s role as a platform between China and PSCs, providing a multi-functional space for activities and exchanges that enhance the development of co-operation between China and PSCs in areas like trade, conventions and exhibitions, among others. It is also the first time for the delegations from the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Co-operation Zone in Hengqin to join this event, which is estimated to intensify the influence and the contents of the event.

At the same time, São Tomé and Príncipe and Equatorial Guinea are added to the list of participating PSCs, a novelty compared to 2016, marking the first time that these two countries send official representatives to the event since joining the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao). Furthermore, the supporting activities during the Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), which were suspended due to the pandemic, are taking place again after eight years, leading to an even more enthusiastic participation by representatives of PSC organisations, chambers of commerce and companies. The number of participants increased by more than 40%, revealing participants’ recognition of Macao’s role as a liaison platform between China and PSCs.

The platform between China and PSCs has significant advantages, and companies are optimistic about development prospects

Economic and commercial relations between China and PSCs continue to grow, with figures showing that trade between them exceeded US$ 220 billion in 2023. The co-operation between all parties is growing in terms of scale and diversity.

The representatives of a high-tech company industry from the Co-operation Zone, who participates for the first time in the “Conference of Entrepreneurs”, shared their companies’ optimism regarding the development prospects of PSCs, showing interest in expanding their business, but assuming limited knowledge about the general situation of some of the PSCs. Participating in the event provides an important opportunity to obtain the latest information on business operations across the nine PSCs and to establish partnerships within them.

An official from the Portuguese Chamber of Commerce and Industry stated that this is his first participation in the Conference and  that he has high expectations regarding its results, believing that the the participation will deepen and solidify the Chamber’s businesses in China and PSC. He also encouraged PSC companies, especially small- and medium-sized enterprises (SMEs), to take advantage of Macao as a platform connecting China and PSCs, to capture development opportunities.

Some of the local agents of PSC products hope that the event will create more opportunities for bilateral co-operation through the integration of the “1+4” industries the China –PSCs platform, further boosting the development of companies.

The “Conference of Entrepreneurs” is jointly organised by the China Council for the Promotion of International Trade and IPIM, and co-organised by the Permanent Secretariat of Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), with the support of nine chambers of commerce and PSC trade and investment promotion organisations and the China-Portuguese-speaking Countries Federation of Entrepreneurs.

In 2023, the number of companies assisted by the “China-PSC Compass” doubled compared to 2019

IPIM continues to help companies “go global” and “bring in investments”. By combining its “one-stop” online and offline services, IPIM has been supporting entrepreneurs to use Macao’s unique advantages as a bridge to opportunities of business between China and PSCs, crafting the city as a platform between China and PSCs. A department dedicated to the development of economic and trade cooperation between China and PSCs was established, whose “China-PSC Business Compass” service provided support services for 708 times to 417 corporate users between 2020 and 2023. The number of corporate users supported throughout the year 2023 (161) was almost double the number in 2019 (85), enabling 50 collaborations during the same period.

Furthermore, IPIM continues to organise exhibitions in various countries and regions, helping companies expand their markets. From April to July, a Macao delegation will be formed to visit four PSCs. In addition to participating in local conventions and exhibitions on agricultural products and food and beverage sectors, the “Entrepreneurs Meeting for Commercial and Economic Cooperation between China and Portuguese-speaking Countries” will also be held.