Portugal’s Sonae, Amorim and Espírito Santo groups negotiating stake in Portuguese distribution center in China

19 January 2006

Lisbon, Portugal, 19 Jan – Portuguese investment agency ICEP Portugal is negotiating with Portuguese groups Sonae, Amorim and Espírito Santo, among others, for them to acquire a stake in the Portuguese product distribution center in China, a source at ICEP told Macauhub.

According to the same source the Portuguese business partners would have a controlling stake in the administrative company for the center, which would also be owned by ICEP and Portuguese business associations, AIP and AEP, as well as a private Chinese distribution partner that has yet to be decided.

In Beijing Tuesday ICEP signed a protocol with the Chinese Council for Promotion of International Trade (CCPIT) in which both parties undertake to cooperate in creating a distribution center for Portuguese products in China and a similar facility in Portugal, for Chinese exports.

According to the ICEP source, the location of the distribution center had not as yet been decided, but the Portuguese were interested in its being located in Beijing. A decision would only be taken after discussions with the CCPIT, the source said.

The trip by ICEP president Marques da Cruz, to the People’s Republic of China also served to present a project for a business center in Macau to the Institute for Promotion of Trade and Investment in Macau (IPIM).

The center, similarly to others ICEP has located all over the world, the latest of which in Russia, will support companies that wish to do business in the Chinese market.

The ICEP delegation in Shanghai, the third in China after Beijing and Macau, is due to open in February.

Marques da Cruz ends his visit to Macau Thursday and will travel on to Japan.(macauhub)