A memorandum agreement for commercial and trade development between the Chinese Province of Shaanxi, Macau and Peru was signed during an economic networking session held yesterday.
The agreement stated a liaison and co-ordination office will be established by Shaanxi company Shan Ao Investment Holdings Limited in order to co-ordinate business co-operation initiatives between the three regions.
The event – titled ‘One Belt, One Road, Economic and Commercial Exchange Networking Session between Shaanxi, Macau and Peru’ – was jointly organised by the Peru Chamber of Commerce in Macau and the Shaanxi Federation of Industry and Commerce, bringing together nearly 100 business and government officials from various regions.
“This event tries to make a bridge between Shaanxi, a faraway region in China, Macau and Peru, and I believe it’s the first time we’ve united the three regions. We also have a joint booth at the Macao International Trade & Investment Fair (MIF) to promote Peruvian products such as wine, quinoa and other organic products. The Peru Government gives priority to commercial relations with China so we always participate in MIF since there are people coming from all regions of China,” the Peru Consul in Hong Kong and Macau, Sergio Manuel Avila Traverso, told Business Daily.
According to statements by former Peruvian Prime Minister Pedro Cateriano in May, China’s investment in Peru as of that time reached US$22.7 billion (MOP181.3 billion) with trade between the two countries reaching US$15.5 billion in 2015, news agency Xinhua reported.
According to data from the Observatory of Economic Complexity (OEC) Mainland China is Peru’s main trading partner, with the South American country’s biggest import from Mainland China being electronic equipment, while Peru mainly exports copper and iron ore.
Trade between Macau and Peru reached US$1.1 million in 2014 with Macau’s biggest import being knitted clothes, according to OEC data.
Joint efforts
A joint booth for Shaanxi and Peru was set up at this year’s Macao International Trade & Investment Fair (MIF) taking place from October 20 to 22 in order to promote the two regions’ products and promote synergies between entrepreneurs.
“Shaanxi avails itself of Macau’s platform advantage in order to help privately-run enterprises go out in addition to popularising Shaanxi’s unique food culture to Hong Kong and Macau, Portuguese-speaking countries and Latin American countries. Peru will exhibit its local tourism projects, agricultural and livestock breeding products, and readymade textile samples,” it was announced during the event.
The Peru Chamber of Commerce in Macau also used the occasion to match small and medium-sized enterprises for business and investment opportunities in Shaanxi and Peru, thereby contributing to the city’s economic diversification.
In statements to Business Daily, Secretary for Social Affairs and Culture Alexis Tam said: “South American countries like Peru and Brazil are important trading partners, and since we’re trying to make Macau an international centre for tourism and leisure we need co-operation with international communities in Latin America.”
