MIF : International Trade and Investment Forum 2007

The 12th Macao International Trade & Investment Fair (MIF) International Trade and Investment Forum 2007 Advantages are merged to create great business opportunities together 18th October 2007 In the afternoon of 18th October, the “International Trade and Investment Forum 2007”, organized by Macao Trade and Investment Promotion Institute, Investment Promotion Agency of Ministry of Commerce of the PRC, and Macao Chamber of Commerce, was held in Sicily Ballroom at the Venetian Macao Convention and Exhibition Center, with the theme of “Advantages are merged to create great business opportunities together, and to jointly promote regional cross-boundary trade and economic co-operation.” Guests present included the various exhibiting delegations, senior officials of the government, commercial chambers and business leaders.
Mr. Francis Tam Pak Yuen, Secretary for Economy and Finance of the Macao S.A.R. said in his speech that Macao had already entered a new era of co-operation which is global, omni bearing, cross-field, and multi-level, while the new trend of co-operation has emerged to be cross-regional, cross-boundary, cross-ideological, and cross-cultural. He said that in the last 8 years since the handover, the various undertakings pursued by the S.A.R. have been progressing steadily and the economy has been growing at a faster pace. The actual annual GDP growth averaged at 12%. The public coffer has managed to maintain a surplus throughout the years. Employment conditions have improved and the unemployment rate has basically been maintained at below 4%. At present, the unemployment rate stands at 3%. It is the key policy of the S.A.R. Government as well as the objective of promoting moderate diversification of the economy to build the city into a regional trade and economic service platform and an integrated tourist centre. The S.A.R. Government sincerely welcomes the entrepreneurs and friends from the Mainland and overseas to fully utilize Macao as a service platform, as a base to exploit the Mainland China market, or as a gateway to the world. The Government has been striving to provide better and more convenient services.
Mr. Liu Ya Jun, Director of Investment Promotion Agency of Ministry of Commerce of the PRC gave an introduction about the economic relations between Macao and the Mainland. He said that the economic contacts of Macao with the Mainland have become closer in recent times. In 2006, the bi-lateral volume of trade amounted to USD 2.44 billion, representing a growth of 30.6%. In the period from January to August 2007, the volume amounted to USD 1.88 billion, corresponding to a growth of 18.9%. At the end of August 2007, the amount of investments from Macao absorbed by the Mainland amounted to USD 7.4 billion, accounting for 1% of the overall foreign investment in the Mainland. At the end of June 2007, the amount of investments made by the Mainland in Macao amounted to USD 6,100 million.
He believed that in the future Macao and the Mainland will possess broader prospects for development in trade and economic co-operation. First, the rapid economic development of both has provided a strong impetus for the mutual trade and economic exchange. Second, the Mainland market has been further opened up to Macao. Third, the improvement in the investment environment and policy adjustments in the Mainland have brought about more investment opportunities for the enterprises of Macao. Forth, the investments in Macao and co-operation of the enterprises from the Mainland also see excellent future prospects. Fifth, Macao will continue to bring into fuller play her role of communication and as a platform in regional co-operation.
Speakers for the forum included Dr. Herry Mané, Minister of Commerce, Tourism and Handcraft of Guiné Bissau, Dr. Victor Alfonso Fidalgo, President of Centre for the Promotion of Tourism, Investment & Exports of Cape Verde, Dr. Joaõ Macaringue, President of the Institute for the Promotion of Exports (IPEX) of Mozambique, Mr. Jose Rodisues Alentejo, Director of Private Sector of CCIA of Angola, and Mr. Hoi Sai Un, President of Macao Chamber of Commerce. They have given their opinions and suggestions on regional advantages and the promotion of trade and economic co-operation, the utilization of Macao’s advantage as a regional trade and economic service platform and the promotion of regional co-operation and development.
About 200 representatives from government departments, trade and investment promotion institutes, trade associations and entrepreneurs from the Mainland, Macao, Hong Kong, Portuguese speaking countries and overseas participated in the Forum.