Business seminar in Macao

Tuesday, 07. September 2010
Macao

 

The Business Seminar on trade and economic cooperation was organized as a part of the presidential visit of Macao with the participation of the Secretary of the Minister of Economy and Finance of Macao Mr. Francis Tam and the Minister of Economy and Construction of the SR Juraj Miskov; as well as with the participation of Slovak businessmen and the representatives of business subjects from Macao and the Chambers of Commerce active in this territory.

 

The President of the Macao Trade and Investment Promotion Institute (IPIM ) Mr. Jackson Chang and Mrs. Andrea Gulova, Assigned CEO of the Slovak Investment and Trade Development Agency (SARIO) presented their respective countries. Macao is thanks to the entertainment industry and well developed tourism one of the fastest growing economies. Its GDP growth shows double digits numbers; in 2007 it reached record 25.3% and in 2008 it reached 15%. In 2009 as a consequence of the global economic crisis it marked decline of 2.4%.

 

Mrs. Andrea Gulova in her speech stressed the advantages of investing in the SR; she presented the tax system, the strongest sectors of the economy and the government support to investment projects. Since the mutual trade balance of Slovakia with Macao reached very low numbers – about 1,236 thousands EUR in 2009; she welcomed this opportunity to intensify the cooperation with the partnership organization IPIM to develop mutual trade. Just like Hong Kong, also Macao might become not only attractive territory for export but also the gateway for Slovak companies to Chinese market. Currently the trade balance of Slovakia with Macao is negative. Slovakia exported in 2009 mainly furniture, mattresses, pillows, lamps and electric machines and equipment in total volume of only 125,000 EUR. From Macao we imported mainly clothing, accessories, iron and steel in total volume of 1,111 thousands EUR. The representatives of both agencies agreed on mutual cooperation and possible future business mission of business subjects from Macao to Slovakia.