The Chief Executive, Ho Iat Seng, leading a delegation of the Macao Special Administrative Region (MSAR) Government, concluded his ten-day visit to three European countries, and returned to the territory late this evening (April 27). As the first overseas visit after the pandemic, the overseas trip was very significant and successful, with the expected results of strengthening friendly relations, deepening areas of cooperation and expanding new opportunities for cooperation. It also helped Macao to expand contacts with the outside world, to better play the role of a bridge between the motherland and the Portuguese-speaking countries, and to inject more and more “kinetic energy” into the sustainable development of Macao and the Guangdong-Macao Deepening Cooperation Zone in Hengqin.

1) To strengthen friendly relations and demonstrate the success of the implementation of “One Country, Two Systems” in Macau. On this trip abroad, the Chief Executive visited Portugal, Luxembourg, Belgium and the European Union Headquarters, where he had meetings and exchanges with several high-ranking officials. He was also received by the Chinese Ambassadors in these countries, where he gave a presentation on the current situation of the MSAR and the Deepening Cooperation Zone, as well as the direction each will take in terms of development in the future. During the four days in Portugal, great importance was given to the Portuguese side, which consolidated and increased the traditional friendship between Macau and Portugal. Visits to Luxembourg, Belgium and the European Union Headquarters also strengthened the bonds of friendship and reinforced ties, and built a firmer foundation for developing and strengthening cooperation in the future.

On the other hand, the Macao SAR Government showed the results of the successful implementation of the “One Country, Two Systems” principle in Macao to international society, made a publicity of the “One Belt, One Road” initiative and national development strategies, namely the Guangdong-Hong Kong-Macao Greater Bay and the Guangdong-Macao Hengqin Deepening Cooperation Zone, and actively promoted the development opportunities therein.

2) To deepen the areas of cooperation for the effective promotion of the development opportunities offered by Macao and the Deepening Cooperation Zone. The MSAR Government presented the objectives and significance of the “1+4” strategy of appropriate diversification, as well as the importance of the Deepening Cooperation Zone and the development opportunities offered to promote the appropriate diversification of Macao’s economy, in order to promote the four main industries, respectively big health, modern finance, high technology, convention, exhibition, trade, culture and sports, for the sake of cooperation and investment opportunities for various enterprises.

For the visit to Portugal, the Executive organized a business delegation comprising trade associations, educational institutions, government and enterprise representatives in the Deepening Cooperation Zone, to jointly promote Macau, the Deepening Cooperation Zone and the Greater Bay Area. During their stay in Portugal, the business delegation signed cooperation protocols in various areas, including economy and trade, investment, tourism, finance, education, and others. Many of the Portuguese companies they met expressed interest in investing in Macau and in the Cooperation Zone, and some even said they were planning to come to Macau soon in search of business and cooperation opportunities. The relevant government departments, together with the businessmen, will make a more detailed assessment of the visit to evaluate the results obtained and pave a better way for cooperation in the future.

The Macao SAR Government is committed to exploring the overseas tourist market. Therefore, the promotional activities in Lisbon, jointly undertaken by the relevant departments and the six major integrated tourism and leisure enterprises in Macao, and the High Collaboration Framework Agreement between the United Nations World Tourism Organization and the Global Tourism Economy Forum, will contribute to the further development of Macao’s tourism sector. In addition, Caixa Geral de Depósitos of Portugal and Banco Nacional Ultramarino (BNU) stressed that they will support Macau in developing the modern finance sector and other potentially important industries.

3) Expand cooperation opportunities to assimilate experiences that will promote the four industries and expand the space for cooperation. Luxembourg and Belgium have successful experiences in the areas of financial industry, science and technology innovation and infrastructure that deserve to serve as reference and contribute to the stable and healthy development of the proper diversification of Macao’s economy. The program of the visit allowed for the expansion of exchange networks and links between Macau and the two countries and was beneficial in opening up new areas of cooperation in terms of economy and trade, particularly in the pharmaceutical production industry, diamond processing industry, and modern finance, among other areas.

Luxembourg has the largest “secondary bond market” in the world. The on-site visit to assimilate experiences and strengthen communication and liaison will help prepare the creation of a bond market with advantages specific to Macau. In the short term, Macao and Luxembourg will further deepen financial cooperation, while the protocol signed today will generate a great momentum to increase the space for cooperation in the financial industry between the two sides.

Overall, the overseas visit has achieved its objectives and stimulated the friendly relations between Macao and the European Union, increasing the exchange between the two sides in the field of economic and trade cooperation. On this basis, the Macao SAR Government will encourage the relevant departments and businessmen to “go abroad more”, so as to make “the history of Macao” and “the history of the Deepening Zone”, among others, better known to foreign friends, sharing the successful experiences in the implementation of the “One Country, Two Systems” principle, as well as bringing the successful experiences from abroad to Macao, as a reference in governmental action.

Source: Governmental Portal of the Macau Special Administrative Region of the People’s Republic of China