Macau joins WCF
The Macau Chamber of Commerce last month became the newest member of the ICC World Chambers Federation (WCF). In addition, the chamber is the first ICC member from the region of Macau, thus growing its network to over 130 countries.
The chamber's membership was announced during the WCF General Council held on 19 November 2008 in Beijing to celebrate the 10th anniversary of the implementation of the ATA Carnet System in China
While Macau is a relative ‘newbie’ to the ICC WCF network, the chamber has a hallowed 95-year history, with 3,000 members in practically all business sectors, and an influential voice in commerce in the region.
The fast-growing economy of Macau is based on tourism, textiles and electronics and has enjoyed 13.1% economic growth in the first half of this decade. The special administrative region is also a member of the World Trade Organization and has trade and economic relations with more than 120 countries.
“Being a member of ICC WCF, we shall have more and better exchanges of business information with other internationally oriented chambers of commerce and entrepreneurs,” said Vong Kok Seng, Vice President of the Board of Directors of the Macau Chamber of Commerce, during the WCF General Council.
The Macau Chamber is busily making preparations to implement the ATA Carnet system, which permits goods temporarily transported across borders to be exempt from customs duties. The chamber aims to start up ATA issuance in June of next year and will serve as the national guaranteeing organization while World Trade Center Macau will be appointed issuing organization.