The economic and trade cooperation between China and Portuguese-speaking countries has made remarkable progress in recent years, said Vice Minister of Commerce Wei Jianguo Monday.

In 2005, bilateral trade between China and Portuguese-speaking countries reached a record high of 23.19 billion U.S. dollars, up 26.9 percent year on year, Wei said at a press conference about the second ministerial meeting between China and Portuguese-speaking countries on economic issues, which is scheduled to be held in Macao in September 2006.

The meeting is under the framework of China-Portuguese-speaking countries Economic and Trade Forum, which was established in October 2003, according to Wei.

During the meeting, entrepreneurs from both sides will also hold a conference and talks on future cooperation issues, he said.

By the end of 2005, China's direct investment in Portuguese-speaking countries totaled 100 million U.S. dollars, while Brazil and Portugal's actual investment in China reached 229 million U.S. dollars, figures from the ministry show.

The Chinese government has provided aid within its capacity for some Portuguese-speaking countries including Angola, Mozambique and Guinea Bissau. From Jan. 1, 2005, China started to exempt tariffs on some products imported from Portuguese-speaking countries in Africa, said Wei.

Source: Xinhua