Sino-Lusophone fund already invested 60 pct of capital – Forum Macau

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Sino-Lusophone fund already invested 60 pct of capital – Forum Macau

7:59 CAT | 13 Oct 2023

Ji Xianzheng made these remarks during a press conference where activities for the celebration of the 20th anniversary of the establishment of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries (Forum Macau) in Macau were introduced. [Photo: Forum Macau]

The China-Portuguese Speaking Countries Cooperation and Development Fund has already invested 60 per cent of the available capital, the Permanent Secretariat of Forum Macau announced on Thursday.

“The Fund has already spent 60 per cent (…) and has invested in most of the Portuguese Speaking Countries (PSC),” noted Ji Xianzheng, the secretary-general of the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and the Portuguese Language (Forum Macau).

The cooperation fund, with a value of US$ 1 billion (MOP 8 billion), was established ten years ago by the China Development Bank and the Macau Industrial and Commercial Development Fund.

A high-level seminar is scheduled for October 20, with the presence of government members from Portuguese-speaking countries, and a retrospective exhibition on the establishment of the Forum will open on the same day, as stated by the Permanent Secretariat.

The 15th China-Portuguese-Speaking Countries Cultural Week, beginning on October 19, will bring music, gastronomy, and crafts to Macau Tower this year, among other activities, with the participation of 100 artists from the Portuguese-Speaking Countries and China, according to the program.

Ji emphasized that the celebration of the 20th anniversary is a “historic moment” and mentioned that Forum Macau plays an “irreplaceable role in promoting exchange and cooperation between China and the PSC in various fields.” It also helps in “increasing the influence of these countries in China” and “in constructing a service platform for commercial collaboration.”

According to official data, trade between China and Portuguese-speaking countries increased from $5.6 billion in 2002 (the year before the creation of the Forum) to $149.6 billion in 2019 before the COVID-19 pandemic.

The Forum includes, in addition to the secretary-general, two deputy secretaries-general and three coordinators, along with nine delegates from Portuguese-speaking countries: Angola, Brazil, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique, Portugal, São Tomé and Príncipe, and East Timor.

Five ministerial conferences were held in the territory in 2003, 2006, 2010, 2013, and 2016, during which Action Plans for Economic and Trade Cooperation were approved.

Originally scheduled for 2019, the sixth ministerial conference was postponed to June 2020 but, due to the COVID-19 pandemic, it did not take place.

Macau Chief Executive Ho Iat Seng indicated in August that the ministerial conference is likely to be held in 2024.

Source: Lusa