Portugal and China want to double bilateral trade in next three years

8 June 2006

Lisbon, Portugal, 08 June – Portugal and China want to double bilateral trade in the next three years, officials said Wednesday in Lisbon at the end of a meeting between the Portuguese Prime Minister and the vice-president of China’s Permanent Committee of the National Popular Assembly.

Trade between Portugal and China surpassed the US$1 billion mark for the first time in 2005.

Portuguese exports to China totalled more than US$300 million, three times the figure recorded in the previous year.

In the meeting between José Sócrates and Wang Zhaogou it was reiterated that Portugal should not only invest in Macau, but also on the Chinese mainland, whether in the industrial areas of the Northeast or the less developed Chinese Northeast.

The two politicians also discussed the global strategic partnership signed in December 2005 between Lisbon and Beijing.

The status of Chinese strategic partner is shared only, along with Portugal, with Spain, Great Britain, France and Germany.

This partnership involves, amongst other areas, boosting economic relations and protection of investments. (macauhub)