Investment and trade promotion agencies from São Paulo in Brazil and Macau may sign an agreement to intensify the exchange of business missions, ensuring enhanced monitoring on the ground, according to a report from Portuguese-language newspaper Tribuna de Macau.
The proposal was presented by the Paulista Agency for Promotion of Investments and Competitiveness (Invests São Paulo), a private non-profit company, maintained by the State government, at a meeting in São Paulo with a business delegation from Macau that went to Brazil to attend the APAS 2016, an international trade fair focused on the supermarket sector.
The official mission and the mission of Macau businesspeople also met with parties potentially interested in placing their production in the Exhibition Centre for Food from Portuguese Speaking Countries, which opened this year in Macau.
Sergio Rodrigues Costa, Director of Invest SP, made a proposal for the Macau Trade and Investment Promotion Institute Promotion Institute to sign an agreement next October during the International Macau Fair.
The agreement provides for regular visits – possibly twice a year – by business missions to the two cities, with Investe SP and IPIM responsible for support and ongoing monitoring of delegations.
Costa said that Investe SP would operate as an “extension of the IPIM team” when hosting business visits from Macau.
The State of São Paulo has 44 million inhabitants, a nominal Gross Domestic Product (GDP) accounting for about 32 percent of Brazil’s total GDP and a “per capita” income equivalent to 132 percent of the national average.
São Paulo produces about 75 percent of Brazil’s pharmaceutical products, more than 40 percent of its tractors and agricultural machinery, 42 percent of household appliances and almost 96 percent of its aircraft.