China is seeking to further ingratiate itself with the nine member states comprising the Community of Portuguese-Speaking Countries (Comunidade dos Países de Língua Portuguesa or CPLP) with a $600 million preferential loan package over the next three years.
China and seven CPLP members are currently meeting in Macau at the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking countries that began Monday and will end Oct. 12.
Chinese Premier Li Keqiang announced the allocation aid package for Angola, Cape Verde, Guinea-Bissau and Mozambique in Africa and Timor-Leste in Asia at the opening ceremony of the conference.
Calling the Portuguese-speaking countries "reliable partners," Li said friendly cooperation is key to promote growth despite the sluggish recovery of the world economy. He said China's door is always open to world economies.
Li said China can establish a yuan clearing center for Portuguese-speaking countries in Macau, as well as the headquarters of a special fund aimed at fostering cooperation and development between China and Portuguese-speaking countries. He noted that China and these nations can complement one another in areas such as finance, technology and resources.
China and the Portuguese-speaking countries have 22 percent of the world's population and account for 17 percent of global economic output.
The Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries has been held since 2003 to promote cooperation between the participants. China is the fastest-growing export partner to Portuguese-speaking countries.
"Fruitful achievements have been made between us in many areas such as agriculture, environmental protection, transportation, telecommunications and finance," said Li during his keynote speech at the opening ceremony.
"China is willing to work with the Portuguese speaking countries to expand markets, to improve customs, inspection and quarantine, certification and accreditation cooperation, to strengthen the protection of intellectual property rights, and to create a good environment for trade and investment."
He also called for cooperation in production capacity; a strengthening of cultural exchanges and emphasized Macau's role as a linking bridge.
CPLP consists of Portugal, Brazil, Angola, Cape Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe, Timor-Leste and Equatorial Guinea.