In this Feb 1, 2014 file photo, tourists walk at the famous tourist spot Senado Square on the second day of the Chinese New Year in Macau. (VINCENT YU / AP)
Macao is holding three simultaneous trade shows to help local businesses expand their markets and propel diversified development of the special administrative region’s economy as it seeks to cushion the impact of the COVID-19 pandemic.
Macao's three upcoming simultaneous shows have attracted a combined 1,047 offline exhibitors, up 12.8 percent from last year, and 1,260 exhibitors in the online exhibition
Organized by the Macao Trade and Investment Promotion Institute, the 27th Macao International Trade and Investment Fair, the Macao Franchise Expo 2022, and the 2022 Portuguese Speaking Countries Products and Services Exhibition (Macao) kicked off on Thursday and will run through Saturday.
With a total area of 29,300 square meters, the three expos are focusing on four key industries: technology research and development and high-end manufacturing industries; traditional Chinese medicine and other Macao-brand industries; cultural tourism, commerce and trade industries; and the modern financial industry.
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They have attracted a combined 1,047 offline exhibitors, up 12.8 percent from last year, and 1,260 exhibitors in the online exhibition.
The number of participants from Macao has seen a 27.5 percent growth year-on-year, with 389 small and medium-sized enterprises from the SAR taking part, according to Xinhua News Agency.
Lei Wai-nong, Macao’s secretary for economy and finance, said Macao will strengthen collaboration with the Chinese mainland and Portuguese-speaking countries in the development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Yangtze River Delta region to further enhance connectivity between domestic and overseas markets and create new sources of growth for the city’s economy.
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By doing so, Macao will also help the country promote its “dual circulation” development strategy, which views the domestic market as the mainstay while letting domestic and foreign markets reinforce each other, he said.
Over 50 events will be held during the three-day expos, including five business-matching sessions on modern finance, traditional Chinese medicine, science and technology, Portuguese-speaking countries, and Macao products.
Eight enterprises from the Hengqin special economic zone in Zhuhai attended the business-matching sessions, hoping to take advantage of the opportunity to reach out to more business partners from the mainland and overseas. Seven of them are Macao-funded.
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Launched in 1996, the Macao International Trade and Investment Fair is one of the most influential international economic and trade events in Macao. The annual fair aims to provide a platform for promoting industry development and business cooperation in the city.
