MIF | Macau seen as a platform for regional trade services

Coming from not only neighboring regions but faraway countries, entrepreneurs are gathering at the 19th Macau International Trade and Investment Fair (MIF), seeing the MSAR as a privileged location to further their businesses. The Secretary for Economy and Finance, Mr Francis Tam, believes that MIF is helping Macau to become a platform enhancing regional trade, which will ultimately allow it to gradually diversify its economy.
Speaking at MIF’s inauguration ceremony yesterday, Francis Tam recalled that Macau has seen a rapid and stable economic development, leading to the improvement of employment rates. He added that the city is stepping up efforts to establish itself not only as a world center for tourism and leisure, but also as a regional platform for trade services. This is particularly evident when it comes to enhancing the relationship between China and the Portuguese-speaking countries.
This year’s MIF is focusing precisely on encouraging closer business ties between mainland China and Portuguese-speaking countries, with Macau playing the role of a facilitator of such relations. A special pavilion showcasing food and beverage related products from the Portuguese- speaking countries is one of this year’s highlights.
The chairman of the Portuguese Agency for Foreign Trade & Investment (AICEP), Miguel Frasquilho, told the Times that the fair is now of great importance, with very “dynamic” trade and investment relations enhanced here. He believes that Portugal can have a crucial role in the relationship between China and the Portuguese-speaking countries too, given its history and strategic geographic location.
“There’s this idea that China, through Macau, wishes to have closer ties with the Portuguese-
speaking community. Portugal is able to play an important role. Since it’s located in Europe, it’s part of the European Union, it’s the European country closer to the United States and the whole American continent, as well as being also close to Africa,” he recalled.
Miguel Frasquilho said that over 70 Portuguese companies and entities have gathered at MIF this year, and expectations are good, since some of them are already doing business in Macau.
Casa Angola International is one of them. The company has been exporting a wide range of products to Macau, mostly food and beverages, and has been attending MIF for ten years now.
The company’s CEO, Rui Moreira, believes that MIF offers a good opportunity to get a sense of current local market trends and needs. “We are able to understand which products are having a good impact on the market, or which products the market is lacking,” he said. This year, they are trying to introduce soy products here, particularly soy milk.
Acushla, a Portuguese company exporting organic olive oil, is participating in the fair for the first time. Company representative Joaquim Moreira said that the Asian market is appealing, since they have already been exporting olive oil to Japan. With a gourmet, organic product, whose quality remains an important feature, Acushla is hoping to further its business ties with Asia. “We want to be present in this part of the world,” he stressed.
Another MIF highlight this year is a section featuring electronic  products from Shenzhen, since the hi-tech industry has become one of the pillars of Shenzhen’s development.
Mary Li, from Rapoo Technology, a company focusing on selling wireless products in Shenzhen, said that this is the first time they are participating in the fair, as one of the enterprises invited by Shenzhen Electronic Industries Association.
They see Macau as an international city, with a high number of businessmen passing by. “Like Hong Kong, Macau is an international city and does business [with companies] from across the world. Businessmen from different countries often come here looking for business opportunities,” she said.
Her company is already doing business in Macau, as they have a representative in Hong Kong who also works with the Macau market. They are hoping to further promote their products in this year’s MIF.
Yesterday, the Cultural Affairs Bureau (IC) also inaugurated its pavilion, which will be dedicated to Macau’s music industry. Seminars and live shows will be held throughout the fair, which ends on Sunday, in a total of 19 activities. IC’s president, Ung Vai Meng, handed a series of awards to film directors and fashion designers who were granted a subsidy through different IC programs.
Mr Ung also inaugurated the China (Shenzhen) International Cultural Industries Fair-Macao Expo, which will also serve to tighten business and cooperation opportunities on culture and creative industries between the two regions.

guangdong and macau cooperate on chinese medicine

Guangdong and Macau have signed a cooperation agreement for the Traditional Chinese Medicine Park in Hengqin Island, where a business incubation center will be created. The executive director of the Macau Trade and Investment Promotion Institute (IPIM), Ms Echo Chan, said that the agreement features a permanent exhibition and healthcare business platform within the existent Traditional Chinese Medicine Park located in Hengqin Island. “We are finalizing details and negotiations but we would like for more partners to join this project,” she told the Times. Behind the agreement there are two main goals: it will be a platform to promote different types of healthcare practices. This platform will also focus on promoting quality control, while showing potential business opportunities within the healthcare sector.