Macau PLOPS Signed Cooperative Agreement with BGFI Bank of San Tome
Macau PLOPS signed a cooperative agreement with BGFI Bank of San Tome, to provide financial consultation services for Central African and Asian enterprises through exclusive e-commerce platform to try to broaden the market scope of the Chinese-Portuguese economic and trade service platform and help promote the implementation of the “One Belt, One Road” Initiative.
During the “China and Portuguese-Speaking Countries Business Trade and Cooperation Fair 2019 – San Tome”, Macau PLOPS General Manager Mr. Lao Kam Chio signed the cooperative agreement with Mr. Felisberto Castilho of BGFI Bank San Tome on 8th July. The agreement ensures both parties to promote businesses from Central Africa and Asia through an exclusive e-commerce platform, mainly in financial trade and business cooperation between Chinese companies, providing accurate and effective contact and follow-up services, and promoting the economic and financial cooperation required by the enterprises in the two places.
It is understood in May this year, Macau PLOPS have made contact with financial institutions in Macau on behalf of BGFI Bank, providing logistical services for the establishment of the relationship between the two parties, and assisting the bank to hold a promotional forum for financial institutions in Macau on the latest developments in the Central African market. Thereafter, in line with the bank’s business development strategy for expansion in the Asian market, developed an exclusive e-commerce platform with Macau PLOPS. The platform focuses on the corporate customers of the bank, and through the platform to promote economic and trade ties with Chinese companies, providing the required trade financing, helping the two enterprises to complete trade settlements, and alleviate the great demand for Chinese products in the Central African region.
Mr. Lao Kam Chio disclosed the will to reach an agreement not only to obtain the approval on the specific aspect of the company’s business but also a positive affirmation of the Macao SAR government’s active promotion of the role of the Chinese-Portuguese platform. San Tome and Principe is one of the eight Portuguese-Speaking Countries in the world, through the business network of Sao Tome Financial Institutions, and utilizing the logistic services of Macau enterprises, to provide purchasing contact, orders follow-up and settlement services for those who are intended to do business with Chinese enterprises, gradually enhance the confidence of enterprises in the two places to use the financial system to complete transactions, promote the increase in commodity trading volume, reduce commodity prices and trade risks, and finally allow Chinese and African consumers to purchase the required commodities at a lower price to meet market demand.
