San Diego sees business opportunities if partnership with Porto advances

Exports from Peru, which move from Peruvian mines and ports to markets and shelves across the Pacific region, have shown significant growth. According to data from the Ministry of Foreign Trade and Tourism of Peru, the volume of Peruvian exports to APEC countries increased to $36.9 billion during the first eight months of 2025.

This figure reflects an increase of 19.5% compared to the same period last year. China, the United States, and Canada were among the main export destinations.

According to data from the Singapore Ministry of Trade and Industry, over 78% of Singapore's global trade turnover in goods and services is accounted for by other APEC economies.

As one of the founding members of the Asia-Pacific Economic Cooperation, Singapore holds a significant position in regional trade, supply chains, and digital commerce.

Entrepreneurs and representatives assert that Macao's cultural closeness to Spanish-speaking countries facilitates entry into the Chinese market, especially given the expansion of the semi-autonomous region's strategy towards the Spanish-speaking world.

Borja Sanchez, an entrepreneur who has monitored events in Macao for about twenty years, arrived in Hong Kong in 2006. He was born in Barcelona but has roots in Galicia. Initially, he came to promote Spanish cuisine in two semi-autonomous regions of China, and seven years later, he founded Los Ibericos, a company involved in importing and distributing Spanish food products.

From the Pearl River side, this entrepreneur has observed Macao's consistent policy of economic diversification and believes that the decision to act as a bridge between China and Spanish-speaking countries 'is a logical evolution.'

In an interview with Lusa on the first day of the 31st Macau International Fair (MIF), he noted: 'The Chinese government understood that we are a separate cultural bloc. I think they understand the world of Portuguese-speaking countries very well thanks to Macao. And this is a logical and natural consequence.'

China designated Macao as a platform to strengthen economic and trade cooperation with the Portuguese-speaking world in 2003, establishing the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries. More than two decades later, this goal was expanded to include Spanish-speaking countries.

Despite whether Macao's new vision will be realized, Sanchez asserts that 'it depends on the will.' He added: 'What often happens with Macao government initiatives, in my opinion, is that they are very interesting in theory, but nothing is achieved.'

He emphasized that Macao possesses all the necessary resources to implement these plans: 'It has infrastructure, budget, there is a need to diversify the economy, and I think it can do it if it wants,' mentioning the hotel sector, restaurant business, and the strong presence of Portuguese culture in the territory.

The idea of cultural proximity is shared by the Spanish Consul General in Hong Kong and Macao, who views this strategy as an opportunity for Madrid to 'expand trade and investment both in Macao and from Macao to other geographical regions.'

The diplomat, Jesus Garcia Aldas, observed: 'Macao is also a place close to the history, language, and culture of Spain, Portugal, and Iberia. Therefore, it is always a very welcoming place for doing business.'

He also highlighted the 'growing closeness between Spain and China in recent years.' Spanish Prime Minister Pedro Sanchez visited China four times in the last four years, and the Kings of Spain visited the Asian country at the end of 2025.

Currently, about 4,500 Spaniards reside in China, and according to the diplomat, two thousand are in Hong Kong and about 500 in Macao.

Miguel Latorre, one of the directors of the Spanish Chamber of Commerce in Hong Kong, arrived in the region in 2023 and believes that the expansion offers Spanish entrepreneurs something hard to find in other cities of the region. He stated: 'Spaniards, Portuguese, we are brothers,' recalling how he felt in a 'familiar landscape' when he first visited Macao. He argues that this proximity generates trust and comfort for Spanish-speaking entrepreneurs.

'We see this as the ideal bridge between China, Hong Kong, and the ecosystem that has formed in Victoria Harbour (...) we consider this expansion a very positive sign,' he noted.

Victoria Harbour is a Beijing project aimed at creating a global metropolis based on China's Special Administrative Regions of Macao and Hong Kong, as well as nine other cities in the neighboring Guangdong province, where more than 86 million people live.

For Victor Herrera, manager of the consulting firm CW CPA—a Hong Kong firm specializing in supporting Latin American companies interested in entering Asia—the inclusion of Spanish-speaking countries in Macao is 'very important.'

He reported that upon arriving in Hong Kong, where Cantonese and English are spoken, there is a lack of 'muscle' to promote business specifically oriented towards the Spanish-speaking region, so Macao's intention to promote such activities 'would be ideal.'

The Mexican specialist listed two main difficulties for entrepreneurs from Spanish-speaking countries entering China in Lusa: language, although this is being mitigated by the development of new translation technologies, and lack of legal knowledge.

He concluded: 'These companies, when they come to do business, have usually already conducted import and export operations and faced problems because communication was unclear, because they did not read contract terms, because there was no contract, there was no solid basis for business development. There was hope, trust, and 'whatever God wills.'