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Almost US$500 million has been invested in cooperative projects, says Forum Macao

More investment from China into Portuguese-speaking countries can be expected after the upcoming Forum Macao conference, which kicks off on 21 April.

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UPDATED: 19 Apr 2024, 8:34 am

The Cooperation and Development Fund between China and Portuguese-speaking Countries has financed 10 projects worth almost US$500 million since 2013, the secretary general of Forum Macao has announced.

Ji Xianzheng told TDM that these projects were located in Brazil, Mozambique, Portugal and Angola. Ji also noted that the digital and green economies were likely to be upcoming areas of cooperation. The fund is a Forum Macao initiative.

The 6th Ministerial Conference of Forum Macao meanwhile kicks off this Sunday and will take place over three days. It will be the first time since 2016 that representatives from Forum Macao’s 10 members (China, Brazil, Angola, Mozambique, Portugal, Guinea-Bissau, Equatorial Guinea, Timor-Leste, Cabo Verde, and São Tomé and Príncipe) will meet together in person.

[See more: Macao has a new Chamber of Commerce for Portuguese-speaking countries]

The forum provides a platform for trade and intergovernmental cooperation between China and nine Portuguese-speaking countries (PSCs).

A breakout Conference of Entrepreneurs is set to take place on 23 April, the final day of the ministerial conference, according to the Macao Trade and Investment Promotion Institute (known by its Portuguese initials IPIM). It will focus on promoting the latest trends in digital transformation and “sharing new opportunities presented by green development,” said IPIM. An official from the Portuguese Chamber of Commerce and Industry said there were “high expectations” for the gathering.

Trade in goods between China and the Lusophone nations totalled nearly US$221 billion last year, up almost 3 percent from 2022, according to figures from Forum Macao.

UPDATED: 19 Apr 2024, 8:34 am

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