Business & Finance
Brought to you by: Pastor Real Estate & Barclays
Monaco has presented its business credential at the 2nd China International Import Expo (CIIE) in Shanghai.
On the initiative of Monaco’s Embassy in China with the MEB’s support, the Principality of Monaco had a stand at the expo from 5th to 10th November, providing a unique opening into the market of the world’s second largest economy.
The annual event aims to be the world’s biggest import and international trade exhibition. For this second edition 155 countries, 26 global organisations and 3,893 companies attended the expo, the theme of which was ‘A new era, a shared future’.
In the National Pavilions hall, the 136m² Monaco Pavilion hosted 12 companies – Aton Green Energy, AS Monaco, Cosmétiques et Capillaires Monaco, GPS Monaco, L’Orangerie, Mazza Immobilier, Monacobor, Therascience, Carthage Héritage, ABTS & Partners, the MEB and Monte-Carlo Société des Bains de Mer, all there to showcase their expertise and the Principality’s advantages as a place to do business.
Heads of state and foreign ministers and ambassadors attended the CIIE opening by President XI Jinping on 5th November. Catherine Fautrier, Monaco’s Ambassador to China, represented the Principality.
In his address, President XI Jinping stressed the need to build a more cooperative global economy based on dialogue and cooperation. “We need to join hands not let go of them, and tear down walls rather than build them,” he said.
According to the MEB, many meetings and high-level contacts were made in the Monaco Pavilion throughout a packed and busy event. Mrs Fautrier attended the signing of a contract selling part of the food processing company FRIMO to the Chinese company Baiyang. Another agreement in the food supplement field was signed between the Therascience laboratory and China Comfort Group Chong Qing & Slow Look. The city of Chongquing, a partner of the agreement, expressed its intention to expand the partnership into university and hospital research, as well as industrial production.
For the Monegasque companies attending, this was their first CIIE and opportunity to discover China, or rediscover it from a new angle, and assess the opportunities this vast market has to offer.
Source: Monaco Economic Board
China's Chimelong Group has participated as a partner in the Monte-Carlo International Circus Festival for the first time ever, deepening the friendship between China and Monaco.
More than 350 economic players came together for the first MEB Members Meeting of the year, during which a full calendar of events for 2020 was unveiled.
Company news will pick up pace this week, with fourth-quarter earnings being published for more than 800 companies. That said, key macro data and economic news will also remain on investors’ watch list.
The Monegasque Department of Labour is taking its commitment to the Extended Monaco programme to the next level with a restructured system for employees and job seekers.
At the end of a long journey on Sunday afternoon, nine rowers made it to Monaco from the Italian capital of Rome having covered a total of 476 kilometres at sea and five days of travel. Each participant rowed for three hours in a traditional rowing boat with a 90-minute break to rest and sleep, all in the cause of Rocher du Cœur, a Monaco charity that helps children who are in hospital for a long time take a brief trip outside.
The purpose of the Barj Challenge 2 was to collect funds for the benefit of the association, which was founded by two carabinieri of the Prince in 2013.
Bernard Boucher, President, said he was “more than happy” everyone arrived. Especially at the beginning, it was not obviously the case, he added. The boat that followed suffered some damage ... and the start was delayed by 24 hours.
“The first day was very difficult,” said Eric Farineau, one of the rowers. “There was a lot of wind and head-on waves. But Mother Nature was with us. The wind dropped.”