Brazil distribution center in Portugal launched in March

15 December 2005

Lisbon, Portugal, 15 Dec – The distribution center for Brazilian products in Portugal will be opened by Brazil’s export promotion agency (Apex) at the end of March, representing an investment of 120 million euros, Portuguese financial daily Diário Económico reported Thursday.

According to the report Apex plans to set up a logistics platform to support exports in an area some 40 minutes driving time south of Portugal’s capital, Lisbon.

The project, which aims to increase Brazilian exports to Portugal and Spain, has 52 companies from 15 activity sectors taking part, although Apex expects more companies to join, Diário Económico said.

After the first year of activity, Apex forecast that the center will generate annual turnover of around US$300 million, and create between 1,000 and 1,500 jobs.

Apex is currently negotiating with the Portuguese authorities to receive support for setting up the center, particularly granting it a “tax free” status that would make it possible for tax on products to be paid only when they go into the market, rather than when they arrive in the country.

The Lisbon center will support distribution in Portugal and Spain and at a later stage to North Africa.(macauhub)

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