A Macao Special Administrative Region (MSAR) Government delegation, led by the Chief Executive, Mr Ho Iat Seng, returned to Macao in the evening on Thursday (27 April), after a 10-day trip to three European countries: Portugal, Luxembourg, and Belgium.

The trip, comprising the first overseas exchanges by a MSAR Government delegation since the three-year period of the COVID-19 pandemic began, carries great significance. The journey to Europe achieved its goals in terms of strengthening friendships, extending areas of cooperation, and exploring fresh opportunities.

The trip helped Macao expand its exchanges with other places, and enhanced the MSAR’s profile internationally. As a result, it furthered Macao’s role linking the motherland and the Portuguese-speaking countries, and injected fresh impetus for the sustainable development of Macao, and for the Guangdong-Macao Intensive Cooperation Zone in Hengqin.

The Chief Executive’s visit to Europe has been fruitful from three perspectives.

First, it strengthened the friendship between Macao and the countries concerned, while demonstrating the successful implementation in Macao of the “One country, two systems” principle.

During the 10-day visit, Mr Ho met with senior officials in Portugal, Luxembourg, and Belgium. He also met officials from the European Union (EU), and Ambassadors of China to, respectively, Portugal, Luxembourg, and Belgium, and to the EU. In his meetings, Mr Ho outlined to officials the latest developments in, and prospects for, Macao and the Cooperation Zone.

The four-day visit to Portugal had been attentively marked by the Portuguese Government, and consolidated the long-standing and friendly relations between the two sides. The visits to Luxembourg and Belgium, including latterly to the headquarters of the EU, enhanced friendship and connection, laying a strong foundation for expanding and strengthening ties in the future.

In tandem, the MSAR Government delegation has demonstrated to the international community the successful implementation in Macao of the “One country, two systems” principle. The visit also helped promote the opportunities arising from the “Belt and Road” initiative, the Guangdong-Hong Kong-Macao Greater Bay Area, the Cooperation Zone, and other development strategies of the country.

The second reason the visit to Europe has been fruitful is that it has deepened areas of cooperation, and effectively promoted the opportunities available in Macao and the Cooperation Zone.

During the trip, the MSAR Government delegation devoted itself to promoting the purposes and significance of the MSAR's “1+4” appropriate economic diversification strategy. The delegation explained to the officials the importance of the Cooperation Zone in terms of Macao’s appropriate economic diversification, and the opportunities created by the Cooperation Zone. The delegation explained the development on Macao of four nascent industries –“Big Health”; modern financial services; high and new technology; and convention and exhibition, sports, and the commercial and trade industries – and how they will bring business opportunities to companies in the three countries visited.

The visit to Portugal also involved Macao entrepreneurs, education institutions, and officials and entrepreneurs from the Cooperation Zone, with a view to promoting jointly Macao, the Cooperation Zone, and the Greater Bay Area.

The four-day visit to Portugal saw the signing of a number of cooperation agreements, covering economic and trade matters, investment, tourism, finance, and education. A number of Portuguese companies expressed interest in Macao and the Cooperation Zone, and some of the Portuguese entrepreneurs said they would visit Macao soon, to seek business and opportunities in the city.

Relevant departments of the MSAR Government will work with Macao entrepreneurs to compile an in-depth report on the trip, reviewing its results, to pave the way for better-quality development in the future.

The MSAR Government is also dedicated to expanding Macao’s source of international visitors for the city’s tourism market. In the Portuguese capital Lisbon, Macao’s six integrated tourism and leisure enterprises took part in MSAR Government promotional events. Also, the United Nations’ World Tourism Organization (UNWTO) and the Global Tourism Economy Forum have announced elevated cooperation between the two. These efforts will advance the development of Macao’s tourism industry. In addition, CGD Group (Caixa Geral de Depósito, SA) and its subsidiary BNU bank stressed that they will support the development of Macao’s modern financial industry and other industries that have potential.

The third reason the visit to Europe has been fruitful is that it has expanded areas of cooperation, creating opportunities for the four nascent industries with which Macao is pressing ahead.

Luxembourg and Belgium have success in modern financial services, technological innovation, and infrastructure. Their experiences are crucial reference points for Macao in terms of accelerating appropriate economic diversification. The trip strengthened dialogue between Macao and the two countries, which will help to open up new areas of cooperation in the fields of economics and trade, especially the pharmaceutical industry, the diamond-processing industry, and modern financial industry.

Luxembourg is the world's largest secondary market for bonds. The visit there has been useful regarding further development of a bond market in Macao that makes use of the city’s unique advantages. The two sides, in the short term, will further deepen financial cooperation, as a result of an agreement signed during the visit. It will be important for expanding the scope for financial cooperation between the two places.

In all, the visit has been fruitful in terms of promoting friendly relations between Macao and the EU, in particular bilateral ties in economic and trade matters. The MSAR Government will further encourage local entrepreneurs in “going global”, in order to share narratives about Macao and the Cooperation Zone, and about the successful implementation in Macao of the “One country, two systems” principle. The Macao entrepreneurs’ exchanges with overseas partners could also be a reference for the MSAR Government’s policymaking.