Representatives of the Macao Government and the Ministry of Commerce today signed a supplement to the Closer Economic Partnership Agreement (CEPA) to further increase the level of economic and trade exchanges between Macao and the Mainland. Supplement IX to CEPA signed at Government Headquarters takes it to a total of 318 liberalisation in 48 trades in services sectors opened to Macao businesses on the Mainland. The Secretary for Economy and Finance, Mr Tam Pak Yuen, and the Vice Minister of Commerce, Mr Jiang Yaoping, led official delegations from the two governments to the high-level meeting of the 2012 CEPA Joint Steering Committee. After the meeting, Mr Tam and Mr Jiang signed on behalf of the two governments. The new document has added two new areas to th Agreement -- education and training, and rail transportation. The Chief Executive, Mr Chui Sai On, the Director of the Liaison Office of the Central People's Government in MSAR, Mr Bai Zhijian, the Deputy Commissioner of the Foreign Ministry in Macao, Ms Zhang Jinfeng, the Director of Exchange and Co-operation of the Hong Kong and Macao Affairs Office of the State Council, Mr Qian Lijun and the Director-General of the Macao Customs, Mr Choi Lai Hang attended the signing ceremony. Both sides agreed to further relax market access conditions and the expand on business scope in some 20 sectors, namely legal, accounting, construction, medical, computer and its related services, technical testing and analysis, personnel placement and supply services, printing, exhibition, and other business services, telecommunications, audio-visual, distribution, environment, banking, securities, social services, tourism, cultural, and individual industrial and commercial households among other areas. Meanwhile, considering the needs of Macao banks to participate in the development in Hengqin Island, the Arrangement allows Macao banks to lower their year-end asset minimum requirement to $4 billion US dollars. It would also allow International schools based in Hengqin to expand the scope of recruiting new students, to set up entertainment places, service centres for the elderly and people with disabilities, education and training organisations. It would also simplify documentation for staff members of Macao accounting firms to work on the Mainland.
