THE Chinese mainland is to waive trade tariffs on all products made in Macau as part of the supplementary agreement under the Closer Economic Partnership Arrangement (CEPA) between China and the SAR.
This latest agreement was ratified after a one-day meeting between the Ministry of Commerce of China (MOC) and the Macau Special Administrative Region (MSAR). The Deputy Minister of MOC Liao Xiaoqi and Secretary for Economy and Finance Francis Tam Pak Yuen were both at the meeting.
Under the agreement, Mr Xiaoqi said the mainland would exempt tariffs on all Macau-made products, except for those restricted by Chinese law.
The agreement, according to Xinhua, also states that the mainland would lift entry qualifications for nine service industries, which have opened up to Macau businesses as a result of the deal.
Since CEPA took effect in 2004, the mainland has opened up 26 service industries to Macau enterprises.