The mainland and Macao will join hands in advancing high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area, and the implementation of the Closer Economic Partnership Arrangement (CEPA).
At the third meeting of the Commission on Economic and Trade Cooperation between the Mainland and Macao, the two sides agreed to bolster support for: Macao to intensify its effort as a platform between China and Portuguese-speaking countries; fostering of Macao’s effort for its adequate economic diversification; and the city’s contribution to the “Belt and Road” initiative.
The meeting, held in Macao on Thursday (3 December), was co-chaired by the country’s Vice Minister of Commerce, Mr Wang Bingnan, and Macao’s Secretary for Economy and Finance, Mr Lei Wai Nong.
The two officials agreed that mainland-Macao cooperation and exchange on economic and trade matters, and on epidemic prevention and control work regarding COVID-19, had made progress, gradually achieving results.
Looking ahead, the two sides would actively explore opportunities under the 14th Five-Year Plan. These related in particular to how to create fresh driving force for Macao’s economic development, in order to realise its goal for adequate economic diversification and sustainable development, and to integrate the city further into overall national development.
During the meeting, Secretary Lei expressed gratitude to the Central Government for ensuring a stable supply of goods to Macao during the pandemic. The Commission on Economic and Trade Cooperation between the Mainland and Macao – as an official mechanism between the Central Government and the Macao SAR Government – has played a positive role in facilitating exchanges and propelling joint economic development on the mainland and Macao, said Mr Lei.
The advancement of the Greater Bay Area development had provided significant opportunities for Macao to further its integration into the country’s domestic economic cycle under the “dual circulation” strategy, Mr Lei said.
Macao’s platform role in relation to Portuguese-speaking countries would be a major path for the city to contribute to the country’s international economic cycle under the dual circulation strategy, the Secretary said. Macao would devote its utmost effort in the organisation of the 6th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries, while proactively enriching its functions to serve as a linkage between China and Portuguese-speaking countries, he added.
In his speech, Mr Wang commended the close communication between task forces of the Committee on Economic and Trade Cooperation between the Mainland and Macao, saying such steps helped the two sides normalise exchanges on economic and trade matters amid the COVID-19 pandemic.
The Vice Minister shared three suggestions for the Committee’s next phase of work:
1) Further support for Macao to integrate further into the country’s domestic economic cycle. There would be further steps to facilitate Macao’s connection with markets on the mainland, under CEPA and via development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin.
2) Further support for Macao to participate in the country’s “dual circulation” strategy, and to bolster development of major platforms such as the International Infrastructure Investment and Construction Forum, an annual event held in Macao.
3) Further initiatives and effort to support Macao’s adequate economic diversification.
The first meeting of the Commission on Economic and Trade Cooperation between the Mainland and Macao was convened in Macao in December 2018.
