Trade volume between Macao Special Administrative Region and its neighboring Guangdong province has surged by 29.6 percent to reach 2.07 billion U.S. dollars in the first three quarters this year, according to latest statistics from the Guangdong municipal government.

Macao companies are taking Guangdong as an ideal business place because of its strategic location, low cost and benefits like zero tariff from CEPA (Closer Economic Partnership Arrangement) signed between Macao and Mainland, said an official with the Hong Kong and Macao Affairs Office in the municipal government.

The surging trade is accompanied by increasing investment and widening economic cooperation between the two regions, statistics show.

According to the statistics, Macao companies have invested 340 million U.S. dollars in Guangdong in the first ten months this year, a year-on-year increase of 32.7 percent.

Inland companies in Guangdong have also invested 172,000 U.S. dollars in Macao.

The economic and trade relations between the neighboring regions is promising, as Zhuhai-Macao cross-border industrial zone, which started trial operation in October this year, has attracted 13 Macao companies, with businesses ranging from textile, jewelry processing, logistics to printing facilities.

Source: Xinhua