The growing trade of China with Angola has significantly increased in the first seven months of this year, amounting to USD10 billion – a 50 percent increase compared to the same period last year.
With the 22nd Macao International Macau International Trade Fair (MIF) now underway, Angola is eyeing investors for the country’s primary sector commodities.
Angola is the partner country of MIF this year, while Guangdong is the partner province.
The “Angola, Guangdong and Macao Trade and Investment Forum” has invited representatives of governments and enterprises of the three regions to showcase the most up-to-date economic and trade environment and investment policies of the respective country and region.
The forum also analyzed existing co-operation between Portuguese-speaking countries, mainland China and Macau with a view to assisting entrepreneurs and investors to explore business opportunities.
Speaking to the Times at the MIF’s Angola Pavillion, one of its delegates, Francisco Viana, chairman of Forum dos Empresários de Língua Portuguesa – FELP expressed a need to shift his country’s focus away from a dependence on primary sector commerce.
Viana cited Chinese President Xi Jinping’s vow to cooperate with the industrialization of Africa.
“So we are ready to receive this kind of investment to add value to our products in agriculture, mining, among other [areas]” said the delegate.
“We [China and Africa] have many opportunities to [conduct] business together. Macau is a platform for us to know many delegations and to enhance this cooperation.”
Questioned whether there was a need for such investment expansion, the delegate expressed that the African country is keen to offer quality products in a bid to add value to the country’s goods.
“We need to [develop manufacturing] production, otherwise we are only going to sell raw materials and buy industrial goods and this is not a good business for us,” he argued.
According to him, such a move is a win-win situation for both China and Angola, adding that the two countries can share each other’s market.
Viana considers MIF a significant platform for business growth in China and Portuguese- speaking countries – particularly African countries – as he noted that Macau business partners have no interest in investing in Africa.
“Macau businessmen do not have the will to invest in Africa [so] here in Macau, we can organize a platform and we can invite others from mainland [China] that have this will,” said Viana.
Further, the delegate expressed that there is a need to mobilize vendors and buyers in the tradeshow as the first day of the event did not attract a sufficient number of visitors.
Viana suggested that such events would have to further involve the Macao Chamber of Commerce to allow the mobilization of interested buyers, along with the participation of foreign business associations.
“There are a very few people here in the fair; it’s very slow. […] We need to have a fair with many people so there’s a lot of [organizing] jobs to do,” the delegate said.
According to the Macau Trade and Investment Promotion Institute (IPIM), more than 1,000 enterprises and organizations from over 50 countries and regions are participating in the current MIF.
The 22nd MIF and 2017 PLPEX kicked off yesterday and will continue until tomorrow at The Venetian Macao.