Mainland China, Portugal and Macau can work together in the areas of technology, tourism, ports and shipping, and others for the development of the blue economy, said Ruben Eiras, an expert in the field from the European country.

Eiras, Secretary General of Fórum Oceano, made the remarks at a business matchmaking session held in Macau on Friday during the China-Portuguese-Speaking Countries Economic and Trade Expo (Macau) and the Macau International Trade and Investment Fair (MIF).

The session was jointly organised by the Portugal-China Chamber of Commerce and Industry (CCILC) and Fórum Oceano, a private organisation in Portugal that is recognized by the authorities to foster the Portuguese maritime cluster and blue economy.

While the blue economy is generally understood as economic activities related to the marine environment, Eiras underscored on Friday the “interdisciplinarity” of the blue economy.

Speaking in the session, titled “Blue Hub: Unleashing Opportunities for Blue Economies in the Era of Sustainability,” he stressed that the blue economy is “a mega sector” involving areas of energy, transport, shipping, seafood, biotechnology, health, climate solutions, ports, tourism, defence, and more.

To advance the partnership among Mainland China, Portugal, and Macau in the area of the blue economy, the Secretary General of Fórum Oceano identified technology and tourism as the ideal areas for cooperation. “Chinese companies are very strong in the digital area, including the recent development of artificial intelligence and blockchain. Portugal also has a vital ecosystem in technology,” he reasoned.

“The second area [for cooperation] could be tourism,” he told MNA on the sidelines of the event. “Both Portugal and China can develop products like diving experiences or surfing.”

Port and shipping, as well as biotechnology, are other potential fields that Eiras pointed out for cooperation in the short-to-long term. “China has a lot to teach Portugal in the area of biotechnology,” he added.

Closer collaboration

During the business matchmaking session held on Friday, CCILC and Fórum Oceano also inked a protocol of cooperation. The pact was signed by Carlos Cid Álvares, President of the Macau delegation of CCILC, and Eiras on behalf of both associations, respectively.

The closer collaboration between the two organisations could help reinforce the expertise and knowledge of CCILC about the blue economy while giving access to the Chinese market for Fórum Oceano, Eiras explained.

The two organisations will also host activities, matchmaking sessions, and others in the future between Chinese companies, which are interested in the development of the blue economy in Portugal, and Portuguese firms eyeing business opportunities in China, including Macau and the Guangdong-Hong Kong-Macau Greater Bay Area, he added.

Meanwhile, Álvares addressed the event on Friday, stating that many Portuguese firms “are doing well” in the areas of the blue economy and environmental affairs. There is potential for them to form “joint ventures with Macau firms to do business in the Greater Bay Area,” he added.

In a keynote speech at the event, Alexandre Leitão, the Consul General of Portugal in Macau and Hong Kong, also highlighted the economic opportunities presented by maritime activities, as well as the importance of the blue economy and sustainability.

Both state and private sectors have to work together for the implementation and effectiveness of any initiatives to combat climate change and ocean action, he added.

The China-Portuguese-Speaking Countries Economic and Trade Expo (C-PLEX) and the Macau International Trade and Investment Fair (MIF) are now underway in Macau until Sunday (October 22).

Macau Business