Latest CEPA amendments take effect today
The latest amendments to the Closer Economic Partnership Arrangement (CEPA) will come into effect today, in the hopes of further promoting economic ties between mainland China and Macau.
CEPA resembles a free trade agreement between two separate customs territories of a single sovereign state. Mainland China and the Macau Special Administrative Region signed their initial agreement under CEPA on October 17, 2003.
CEPA allows eligible Macau companies to be considered as operating within the same domestic customs territory as the mainland.
The new amendments will further lower the barriers for Macau companies entering the mainland market. They cover areas such as finance, law, accounting, tourism and education. Seven mainland public departments will handle the applications submitted by Macau companies.
The government hopes that the move will bring create more opportunities for Macau’s professionals and small businesses. AL
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