The Secretary for Economy and Finance, Francis Tam, and the Vice-Minister of Foreign Trade and Economic Cooperation, An Min, presided over the second Business Committee meeting between Macao and the Mainland held from 25-26 July in Macao.

During the meeting, both sides reviewed the work done during the last year and proposed several items for cooperation in the near future. They also talked about the economic status of the two places and how to reinforce cooperation following China¡¦s successful accession into the WTO.

The Trade and Investment Subcommittee and the Economic and Cooperation Subcommittee held meetings to discuss topics such as how to avoid levying taxes in both areas, safety procedures for imported meat products, enhancing cooperation in labor services and e-commerce, and expanding investments between the two areas.

The third meeting of the Business Committee between Macao and the Mainland will be held in China during July 2003.

The Business Committee, which was established in 2001, is the official channel for promoting commercial cooperation between Macao and the Mainland. The Business Committee is comprised of two subcommittees, the Trade and Investment Subcommittee and the Economic and Cooperation Subcommittee, which discuss issues in detail.