Macao and Shenzhen to strengthen co-operation

The Chief Executive, Mr Edmund Ho Hau Wah, pledged today that Macao would strengthen co-operation with Shenzhen to facilitate developments to the mutual benefit of the two cities. Meeting with the visiting Mayor of Shenzhen, Mr Xu Zhongheng, at Government Headquarter this morning, Mr Ho said Macao would achieve sustainable development while Shenzhen would have new development though mutual co-operation. Mr Ho said Macao and Shenzhen should advance co-operation at all levels in order to facilitate development that would complement one another. Both sides might firstly speed up co-operation in trade, logistics, tourism, and finance. Since Macao is developing as a business platform for China and the Portuguese-speaking countries, this might help Shenzhen to open up to overseas markets, Mr Ho said. The visiting mayor, Mr Xu, said Shenzhen had a comparatively modern passenger and cargo transportation system that could act as a bridge for Macao’s economy to enter the Mainland. Mr Xu said Macao not only has diverse international connections, but also different channels for trading, and an especially close relationship with European Union as well as Portuguese-speaking countries that could support the diversification of Shenzhen’s export trading policy. He said the two governments should capitalise on the opportunities generated by the Closer Economic Partnership Arrangement (CEPA) to boost the their economies. After the meeting, the Macao Trade and Investment Promotion Institute signed “Agreement on strengthening Co-operation in Trade” with the Shenzhen Municipal Bureau of Trade and Industry; the Macao Government Tourist Office signed the “Memorandum of Co-operation in Tourism” with the Shenzhen Municipal Tourism Bureau. The Monetary Authority of Macao signed the “Agreement on Financial Co-operation” with the People’s Bank of China Shenzhen Central Branch and “Letter of intention on the co-operation in the establishment of payment and settlement system” with the Shenzhen Financial Electronic Settlement Centre. On Tuesday, the Secretariat of China and Portuguese-Speaking Countries Economic Cooperation Forum and the Shenzhen Municipal Bureau of Trade and Industry will also sign a co-operation agreement. Mr Xu and his official delegation are on a three-day visit to Macao at Mr Ho’s invitation.