'Sino-Portuguese Forum promotes trade, ties in past decade'

Minister of Commerce Gao Hucheng said on Tuesday that since its establishment 10 years ago, the Forum for Economic and Trade Cooperation between China and Portuguese- speaking Countries has been serving as an important platform to foster economics between the both sides.

Speaking at the ongoing forum, which is the fourth edition, Gaosaid the six measures agreed in the Third Ministerial Conference had been successfully achieved, adding that the present central government has the same high regards for co-operation with the Portuguese-speaking countries.

Since the inception of the forum, bilateral investments between China and Portuguese-speaking countries have surged rapidly. At present, over 800 enterprises have been set up in China by investors from Portuguese-speaking countries. The rise in bilateral investments has greatly boosted economic growth on both sides.

Meanwhile China has provided a total of 4 billion RMB (about 655 million U.S. dollars) in concessional loans to Angola, Cape Verde, Guinea Bissau, Mozambique and Timor-Leste over the past decade.

The Cooperation and Development Fund between China and Portuguese-speaking Countries, which is proposed by the Chinese government and jointly undertaken by the China Development Bank and the Industrial and Commercial Bank of China (Macao), was formally inaugurated on 26 June 2013.

The fund's initial capital stands at 125 million U.S. dollars and are jointly provided by China Development Bank Capital Corp and the Industrial and Commercial Development Fund of Macao. The fund is run and managed by the China-Africa Development Fund under the China Development Bank.

Gao believed that with the action plan signed at the ministerial conference of the forum, which was held on Tuesday, will bring along fruitful results to China and Portuguese-speaking countries in the coming three years, and Macao will serve as a better platform between both sides.

The Fourth Ministerial Conference of the Forum, which is being held in Macao, aims to further bilateral talks and boost joint development of China and Portuguese-speaking countries. (1 U.S. dollar = 6.1 RMB)