Signed on 18 December 2017 between the Mainland and Macao, the Mainland and Macao Closer Economic Partnership Arrangement Agreement on Economic and Technical Cooperation (hereafter referred to as the CEPA Ecotech Agreement), which is comprised of a total of 8 chapters and 30 articles, involves sorting, categorising and consolidating the economic and technical cooperation activities set out in CEPA and its 10 Supplements, as well as combining the respective levels and features of economic development of the Mainland and Macao at the current stage. It focuses on highlighting Macao’s features, incorporates new cooperation areas and supplements new cooperation activities. (Please click here for the Agreement on Economic and Technical Cooperation)

Among which, a new specific chapter on deepening the development of Macao as a commercial and trade cooperation service platform between China and Portuguese-speaking countries (PSCs) is added with a view to promoting Macao’s continuous enhancement of its international competitiveness through deepening the economic and trade cooperation between China and PSCs by means of advancing the development of Macao as a “Commercial and Trade Cooperation Service Platform between China and PSCs” on the basis of Forum Macao. Another new chapter on deepening economic and trade cooperation areas of the “Belt and Road” Initiative is added with a view to supporting Macao to participate in the development of the “Belt and Road” Initiative by means of establishing operational and liaison mechanisms, enhancing information communication channels, building exchange platforms, and jointly participating in production capacity cooperation as well as exploring the markets along the “Belt and Road”, etc.

The 14 key areas of cooperation of the CEPA Ecotech Agreement, including tourism, convention and exhibition, traditional Chinese medicine and Chinese medicinal products, finance, electronic commerce, environment, legal and dispute resolution, accounting, culture, innovation and technology, education, small and medium enterprises, intellectual property, and trademark and branding, connect to the elements of the Five-Year Development Plan highlighting China’s needs and Macao’s strengths, promote the development of featured finance, convention and exhibition with a priority on convention, traditional Chinese medicine and Chinese medicinal products and other emerging industries in Macao, as well as support Macao to nurture new areas of economic growth with a view to facilitating moderately diversified economic development in Macao.

With a view to providing a broader prospect to micro, small and medium enterprises and youth of Macao for integrating themselves into China’s national development strategies, a specific chapter on sub-regional economic and trade cooperation is set out in the CEPA Ecotech Agreement to, based on Macao’s needs, support the development of the Demonstration Zone for Comprehensive Cooperation between Guangdong and Macao and the Jiangsu-Macao Cooperation Park, explore new modes of cooperation between the two places under the “One Country, Two Systems” framework, and comprehensively take forward mutually beneficial cooperation between the Mainland and Macao in addition to jointly promote economic and trade cooperation in the Pan-Pearl River Delta Region, Guangdong-Hong Kong-Macao Bay Area and Pilot Free Trade Zones.

Furthermore, the CEPA Ecotech Agreement will provide impetus to the two places to actively explore cooperation in the areas of workforce training and youth entrepreneurship with a view to providing new opportunities for Macao youth’s innovation and entrepreneurship.