TRADE POLICY REVIEW:
High gaming-based growth — diversification an important goal
The economy of Macao, China grew at an average annual rate of 14.5% in the period 2001 to 2005 and growth its expected to have been well above this average in 2006. perhaps close to 20%, thanks to the strong growth in tourism and related services and the liberalization of the gaming industry, according to a WTO Secretariat report on the trade policies an practices of Macao, China.
See also:
Gaming has become the cornerstone of the economy of the Macao Special
Administrative Region of China, and related activities such as hotels
and resorts, have attracted massive investment transforming Macao from a
manufacturing centre into a predominantly services-oriented economy,
with services accounting for almost 90% of GDP and 75% of total
employment.
The report says that the main thrust of economic policy in the years to
come will be to ensure the smooth progress of gambling sector
liberalization in coordination with the healthy development of other
sectors. The Government efforts to diversify the economy in general and
the tourism market in particular would provide a more stable economy
less dependant on gaming and tourism, adds the report.
The report, along with a policy statement by the Government of Macao,
China, will be the basis for the third Trade Policy Review (TPR) of
Macao, China by the Trade Policy Review Body of the WTO on 30 April and
2 May 2007.
The WTO report, along with a policy statement by the Government, will be the basis for the Trade Policy Review (TPR) by the Trade Policy Review Body of the WTO.
The following documents are available in MS Word format.
- Secretariat report
> Contents and summary observations
> Economic environment
> Trade and investment regimes
> Trade policies and practices by measure
> Trade policies by sector
> Appendix tables
- Government report
Note back to top
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. For each review, two documents are prepared: a policy statement by the government of the member under review, and a detailed report written independently by the WTO Secretariat. These two documents are then discussed by the WTO’s full membership in the Trade Policy Review Body (TPRB). These documents and the proceedings of the TPRB’s meetings are published shortly afterwards.
Print copies of previous TPR publications are available for sale from the WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211 Genève 21 and through the on-line bookshop.
The TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews back to top
Costa Rica: 7 and 9 May 2007
India: 23 and 25 May 2007
Central African Republic: 11 and 13 June 2007
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