Local banks to strengthen ties with Lusophone nations

Banks in Macau aim to strengthen financial ties with Portuguese-speaking countries through expanded cooperation, said Adelino Buque of the Business Confederation of the Portuguese Speaking Countries (CE-CPLP), during his keynote speech yesterday.

The Monetary Authority of Macau is hosting its 2nd cooperation conference between the commercial Banks of Macau and Portuguese-speaking countries, Guangdong-Hong Kong-Macau Greater Bay Area Investment Forum, which underscores the region’s role in fostering financial collegiality between China and the Portuguese-speaking world.

In his speech at the conference, Buque acknowledged the “extreme relevance and importance of this event” and the organization’s commitment to strengthening economic and commercial cooperation between China, Macau, and Portuguese-speaking countries.

CE-CPLP, which represents business interests in Angola, Brazil, Cape Verde, East Timor, Equatorial Guinea, Guinea-Bissau, Mozambique, Portugal, and Sao Tome and Principe, has been actively promoting financial and banking cooperation among its member states since adopting the “CPLP Economic Pillar” initiative in 2023.

“We are very encouraged to observe that China is also very willing to expand economic, commercial, and financial cooperation with Portuguese speaking countries via different channels, granting Macau a pivotal role and function as a bridge and liaison platform to provide efficient and quality financial services,” said Buque.

The conference aims to build a more cohesive and integrated financial system between Portuguese-speaking countries and China through new banking partnerships, digitalization, innovative financial instruments, and policies in areas like green finance, agriculture, and infrastructure development.

For Buque, the conference represents a unique opportunity to strengthen and reinforce already positive cooperation relations, mechanisms and networks in the financial sector within the framework of business and trade between China, Macau and Portuguese speaking countries.

“The ultimate goal is to boost cooperation, leading to more economic growth, sustainable development, and enhanced competitiveness in global markets,” he concluded.

The conference brings together officials from China and Macau, as well as those from central banks and monetary authorities across nine Portuguese-speaking nations, aiming to foster economic and business cooperation. Victoria Chan