The International Lusophone Markets Business Association, or ACIML, has agreed to help a Macao subsidiary of Guangzhou Pharmaceutical Holdings Ltd (GPHL) of mainland China to venture into markets in the Portuguese-speaking world, the Macau News Agency (MNA) reports.

MNA says Guangzhou Pharmaceutical Group (Macau) International Development Co. Ltd (GPG Macau) Deputy Chairman Li Hong  and ACIML Executive Committee Chairman Eduardo Ambrósio signed the agreement.

The report quotes Mr Li as voicing hope after the signing in Macao on Monday that more events can be held in the city each year to draw the attention of lusophone markets to Chinese traditional medicine.

Mr Li hopes Macau will develop a pharmaceutical business cluster and so attract more investment in the industry, the report says.

GPHL, True Point Global Ltd of Macao and state-owned Nam Yue (Group) Co. Ltd of the neighbouring mainland Chinese province of Guangdong got together to set up GPG Macau in January 2020, MNA says.