São Tomé and Príncipe now part of Forum Macao

African country São Tomé and Príncipe is now a member of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Forum Macao), the organization announced on Wednesday.
The inclusion of the Portuguese-speaking country to the Sino-Luso body followed the country cutting its diplomatic ties with Taiwan three months ago and reinstating ties with Mainland China.
“Forum Macao is now more complete as we now include all Portuguese-speaking countries. I wish São Tomé and Príncipe could benefit from this mechanism,” said the body’s Secretary-General, Xu Yingzhen.
She added that the next steps for the island country will be for it to appoint a delegate and decide which Forum Macao activities it would have more interests in participating in.
For the whole year of 2016, bilateral trade between São Tomé and Príncipe with Mainland China reached US$6.6 million (MOP52.8 million), according to official data from Forum Macao.
Meanwhile, the body’s Secretary-General also announced on Wednesday that the relocation of the headquarters of the US$1 billion (MOP8 billion) Co-operation and Development Fund to Macau from Beijing will take place within the first half of the year.
Aiming to attract investment to Portuguese speaking countries, the fund has financed three projects in Angola, Mozambique and Brazil since its establishment in 2013, in addition to a possible US$20 million investment from local businessman David Chow Kam Fai in Cape Verde for developing an integrated resort there, of which the plan is pending approval. with LUSA