The prospect for Sino-Lusophone trade cooperation was bright in the wake of strong growth potentials on both sides, said State Councillor and State Council Secretary General, Mr Hua Jianmin, at this morning's opening of the Second Ministerial conference of the Sino-Lusophone Forum. Addressing the 1000-strong gathering composed of trade ministers, officials and entrepreneurs from China and seven Lusophone countries (Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and East Timor), Mr Hua also spoke highly of Macao's efforts in facilitating the implementation of the first Sino-Lusophone cooperation action plan signed three years ago. Looking ahead, the State Councillor put forward four suggestions to strengthen Sino-Lusophone ties, namely expanding the scale of economic cooperation, opening up more areas of exchange, enhancing human resource collaboration and perfecting the Forum cooperation mechanism. He said he hoped that these efforts would help bilateral trade between China and the seven Lusophone countries reach between US$45 to US$50 billion by 2009, and help double bilateral investments over the next three years. Mr Hua also announced that the Chinese government would provide RMB800 million in preferential loans to Lusophone countries in Asia and Africa over the next three years to finance infrastructure projects in these countries. Macao's unique role as a bridge between China and Portuguese-speaking countries was also reaffirmed by Mr Hua, who called attention to the region's historical ties with the Lusophone world and its close link with the international business community.
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