Portugal and China sign agreements valued at 21 million euros

1 February 2007

Beijing, China, 1 Feb – Chinese and Portuguese companies Wednesday in Beijing during the Portugal-China Forum for Economic and Business Cooperation, four agreements of a total value of 21.5 million euros.

Of the agreements signed, the one that will bring immediate benefits to Portugal is the sale of IT services to China by Tekever, a Portuguese company, in partnership with Ufida, one of China’s largest computer applications companies.

The agreement represents sales of 10 million euros to the Chinese market over the next two years, according to Ricardo Mendes, sales director and one of the founders of the company.

Two other partnerships were set up in the wine sector involving Vinocor, Yantai Kylin Package and Guozheng – Investimentos Financeiros and Caves Arcos dos Reis and Yantai Kaisite Chateau.

Vinocor, a Portuguese cork company, signed a contract to sell corks to the value of 2.5 million euros in 2007 and outlined the relocation and expansion of the current factory in Shandong province, an investment of 15 million euros.

On the side of Portuguese investment in China, the JAP group, from the furniture and wood sector, signed an agreement with Edeluc to set up a furniture factory in the Weifang Export Processing Area, in Shandong province.

The project represents and investment of around 9 million euros and its first stage will begin immediately. JAP is expected to produce components in China to be assembled in Portugal by the end of 2007.

“The next step is to start selling to the Chinese market, and, according to our calculations, within four or five years we will be selling more in China than to the European market,” said Carlos Alberto Pereira, the group’s director. (macauhub)