China should be priority for Portuguese businesses, export agency president says

10 May 2006

Lisbon, Portugal, 10 May – Portuguese business owners should look at emerging markets, namely China, which is already in third place in Portugal’’s list fo trading partners after the European Union (EU) and the US, the rpesident fo Portugal’s export promotion agency (ICEP) said Tuesday in Lisbon.

Speaking at the opening of the III Professional Congress – Business opportunities in China, João Marques da Cruz said that, “in only the first two months of the year,” exports to China rose by 60 percent as compared with an increase of 40 percent over the whole of 2005.

According to Marques da Cruz, Portuguese business owners should particularly focus on the Chinese and Angolan markets, which have large growth rates, specifying that China “is already the sixth world economy, the third trading power and the third destination for foreign direct investment in the world.”

Portugal, which send 75 percent of its exports to the European Union, “needs to diversify its markets, with China and Angola being the two greatest immediate export markets,” followed by Brazil, Russia and India, and then the EU expansion countries, Poland, the Czech Republic and Hungary.

In order for Portuguese companies to set up in China, ICEP will carry out two annual campaigns, in march and September and has set up offices in Beijing, Shanghai and Macau to help Portuguese businesses. (macauhub)