Forum Macau an opportunity to boost Portuguese economy: Minister

Portugal’s Minister of Economy Pedro Reis

Pedro Reis, Portugal’s Minister of Economy, has announced his attendance at the upcoming Macau Forum ministerial meeting is a strategic move to enhance the internationalization of the Portuguese economy. He made this statement before his departure for Asia, Lusa reported.

The Macau Forum serves as a platform for economic and trade cooperation between China and Portuguese-speaking countries, including Portugal.

The meeting, taking place next week, is particularly significant as it coincides with the 25th anniversary of Macau’s transfer of sovereignty from Portugal to China—a milestone that Reis noted has gone “exceptionally well.”

Reis emphasized the Forum’s importance in strengthening economic and commercial ties, pointing out that it offers an invaluable opportunity for Portugal to deepen its relationship with China and other Portuguese-speaking nations. The conference marks 20 years of exchange and commemorates a symbolic anniversary in the history of China-Portugal relations.

This year’s 6th Ministerial Conference of the Macau Forum will be held in the MSAR from Sunday to Tuesday. The event underscores the ongoing collaboration and potential for growth in trade between the two countries.

According to Lusa, economic data from the Portuguese Ministry of Economy highlights China’s role as a key trading partner. In 2023, China was Portugal’s fifth largest supplier of goods, accounting for 5% of Portuguese imports. Additionally, in 2022, 1,309 Portuguese companies were actively exporting to China, with 402 of these firms also exporting services to Macau.

Looking forward, Reis sees vast potential for Portuguese companies in various sectors such as agribusiness, infrastructure and transport, tourism and the burgeoning blue economy. These areas, he believes, hold great promise for businesses aiming to internationalize and expand into new markets. Staff reporter