Subject: XN: China, Portuguese-speaking countries strive for better investment environm

China, Portuguese-speaking countries strive for better investment environment

October 13, 2003 11:29am

MACAO, Oct 13, 2003 (Xinhua via COMTEX) -- Participants of the ongoing Forum for Economic and Trade Cooperation between China and Portuguese- speaking Countries (Macao) pledged here Monday to make further efforts for the improvement of trade and investment environment.

These efforts are expected to boost the bilateral and multilateral trade and investment between China and the seven Portuguese-speaking countries so as to achieve common prosperity.

Assistant to the Chinese Minister of Commerce Chen Jian noted that China has been keen on implementing trade and investment facilitation, especially after its accession into the World Trade Organization (WTO), so as to reduce costs in foreign trade and optimize investment environment.

China is willing to expand the bilateral trade and investment through a concerted effort to smooth out the barriers in trade and the flow of logistics, personnel and technology with the seven Portuguese-speaking countries, namely Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and East Timor, he said.

Brazil's Secretary of the Foreign Trade Ministry for the Development of Industry and Commerce Abroad Ivan Ramalho noted that his country encourages enterprises to invest abroad and to do business with China or fellow Portuguese-speaking countries, adding that many Brazilian enterprises have set up branches or representative offices in China.

Alexandre Sousa Costa, an official with Angola's Ministry of Trade, noted that the Angolan government has committed itself to simplifying the approving procedure for investment coming to the country. Moreover, it has engaged itself in protecting intellectual property rights in an effort to safeguard the interests of foreign investors.

Moreover, the government has drawn up favorable policies in various aspects to lure foreign investors.

Secretary of State for Commerce and Industry of East Timor Arlindo Rangel da Cruz noted that his country has huge natural resources, and the government, in the hope of quickening the pace of exploitation, is creating good conditions for the influx of overseas investment.

The three-day forum, sponsored by the Chinese Ministry of Commerce, is the first of its kind held to tighten China's economic and trade relations with the seven Portuguese-speaking countries through the trade platform of Macao.


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