Macao's CEPA Deal to Propel Cross-border Industrial Park Plan: official

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Last updated at: (Beijing Time) Saturday, July 26, 2003

Macao's CEPA Deal to Propel Cross-border Industrial Park Plan: official

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Macao's anticipating deal with the Mainland in forging the Closer Economic Partnership Arrangement (CEPA) will increase the attractiveness of a cross-border industrial park plan, which is in the boardroom, said a senior Macao official.

Francis Tam, secretary for Economic and Finance with the Macao Special Administrative Region (SAR) government, said at the secondround of the Mainland/Macao CEPA talks here Friday that preferential articles to be subscribed in CEPA will make the park a favorite for Chinese and overseas manufacturers.

The feasibility report of the industrial park designed to encompass the border between Macao and its adjacent Zhuhai City insouth China's Guangdong Province was submitted to the Central Government for approval in April. Under the draft plan, the park will be built on a 400,000 sq. m reclaimed seashore. The land reclamation coverage will be halved by Zhuhai and Macao with a water separation line, which is to be linked by a bridge.

Tam said that CEPA will favor Macao with zero tariff on a number of items of logistic trade with the Mainland. Some overseasmanufacturers have inquired about setting foot in the planned industrial park aiming at the preferential policy.

He disclosed that the park plan is one of the topics discussed in the CEPA talks with the Mainland. Macao hoped the plan could get an approval and ready for business invitation before the end of this year, since the CEPA pact was slated to become effect on Jan. 1 next year.

According to Tam, the park to be managed in mode of a bonded zone will mainly assimilate manufacturers engaged in textile, garment and electronic business.

The Mainland delegation arrived in Macao Thursday for the second round of talks on working out CEPA.

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