Former Portuguese enclave is carving out a unique new role

As a former Portuguese colony, Macau’s close ties with the Portuguese-speaking international community, by extension with the vast European community, and with the Mainland have helped it to establish a unique position and exert its influence.

The Closer Economic Partnership Arrangement signed with the People’s Republic of China (PRC) Government and the hosting of the first Forum for Economic and Trade Cooperation – both in 2003 – as well as the World Chinese Entrepreneurs Convention have strengthened links between Macau, China and Portuguese-speaking countries. The city genuinely serves as a Pearl River Delta link between the two. Bilateral trade and investments have grown from US$5.6 billion in 2002 to US$128.497 billion in 2012.

Unemployment in Macau was lower than two per cent in 2013 and there is a severe workforce shortage – particularly in construction, which is a major industry due to growth of the gaming and tourism sectors. During a visit in 2009, then Vice President of the People’s Republic of China (PRC), Xi Jinping, pledged to support Macau in further developing a finance industry, infrastructure and relations with SMEs in Guangdong. This pledge was reinforced when Xi Jinping recently visited Macau as President of the PRC. The government continues to invest proactively in infrastructure, housing, transport and the development of higher education as a magnet for regional scholarship and research.

Internationally, Macau has good relations and is a member of the WTO. The Macao-EC Trade and Cooperation Agreement promotes collaboration with the European Union in industry, investment, science and technology, energy, information and training. So far, programmes have included training for tourism and services, European studies, advice on local services in Macau and training for public departments.

Relations with the US remain strong, with partnerships in anti-piracy measures and law enforcement training.

More opportunities, collaborations and developments for the enclave are on the horizon after the opening of the Hong Kong–Zhuhai–Macau Bridge in 2016, joining the east and west Pearl River Delta, reducing a four and a half hour journey to 40 minutes. A rise in employment opportunities is expected including further expansion of the tourism industry across the region.