Message
From the Secretary for Economy and Finance of Macao SAR,
Mr. Francis Tam Pak Yuen
The 11th Macao International Trade & Investment Fair (MIF) will be held in Macao from 23-26 September 2006. I would like to wish the event a resounding success.
Since the handover, Macao’s economy has been developing strongly, with an average annual GDP growth of around 10%. Our investment environment has also been gradually improving and gaining international recognition. Last year, Macao was recognised as “the city with the highest economic development potential in Asia” by Foreign Direct Investment, a magazine published by the British Financial Times Group. Foreign investment has grown at a relatively fast pace with more and more major international investors in the gaming, exhibition, convention and tourist industries carrying out large-scale investment plans in Macao. The future is certainly bright for our economic development.
Our future economic policies will focus on the balanced and sustainable development of Macao’s economy. As we continue with the development of prominent sectors of industry that are vital to the future of Macao, we shall also promote the related service industries so as to foster the appropriate diversification of the local economy as well as its overall balanced development. At the same time, we shall actively participate in regional economic cooperation and collaboration, working towards the integration of neighbouring economies to build a regional commercial and trading services platform. We shall especially focus on economic and trading exchange and cooperation between mainland China and Portuguese-speaking countries, on the trade services platform for the western part of Guangdong Province and on the services platform for mutual communication and cooperation among worldwide Chinese business entrepreneurs.
MIF is now an approved event of the Global Association of the Exhibition Industry (UFI) This year both MIF and the 2nd ministerial meeting of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macao) will take place at the same time. This will allow Macao to fully demonstrate its function as a services platform to promote the economic and trading exchange and cooperation between China and Portuguese-speaking countries. We shall also provide the necessary assistance and related services for enterprises throughout China to enter the markets of Portuguese-speaking countries, and for Portuguese-speaking countries to enter the huge China market.
Since its official implementation on 1 January 2004, the Mainland and Macao Closer Economic Partnership Arrangement (CEPA) has been constantly improved and extended. Now, imports from Macao entering the mainland enjoy zero tariffs (except those explicitly prohibited by the national government) as long as the Rules of Origin agreed by both sides are met. At the same time 26 service industries in the mainland are already open to Macao enterprises. Through CEPA the trade in both goods and services is gradually being liberalised, and investment is being encouraged and made easier.
The main theme of this year’s Trade and Investment Fair is “Promoting Cross-regional Economic Co-operation , Embracing New Development Opportunities.” The Fair aims to complement the advantages of other countries and cities with our own advantages, especially Macao’s role as a regional commercial and trading services platform, riding on the development opportunities brought by CEPA and Pan-Pearl River Delta regional cooperation. Through sincere teamwork we hope that joint development and prosperity will be realised and we can all hands and walk towards an even brighter future.
I hope that this year’s MIF will reap even greater results on top of the foundations that have already been built. I wish every participant fruitful returns!
Mr. Francis Tam Pak Yuen
Secretary for Economy and Finance of Macao SAR
