Portugal and China sign several bilateral agreements

8 November 2010

Lisbon, Portugal, 8 Nov – Portugal’s prime minister, José Sócrates, and China’s president, Hu Jintao, Sunday in Lisbon signed several bilateral agreements involving some of the main Portuguese business groups.

In a protocol session, at the Ministry of Foreign Affairs, Portugal and China signed a number of agreements in the areas of Culture, Education, Tourism and investment operations, with them latter including the acquisition of Portuguese sovereign debt by China.

The business agreements signed involved partnerships with Portugal Telecom, EDP – Energias de Portugal, BPI bank and Millenium bcp bank.

The issue of the potential acquisition of public debt by China was not discussed, but the Chinese president reiterated that he was “available to take concrete measures to help Portugal to overcome the financial crisis.”

After a meeting with the Chinese president, Sócrates thanked Hu Jintao for his “personal efforts” for “trade relations between Portugal and China to have a new target for 2015, of being doubled.”

Hu Jintao, in his turn, reiterated China’s intention to help Portugal overcome the financial crisis.

Before signing four institutional agreements and nine business agreements, Hu Jintao gave assurances that, “the Chinese government encourages competitive companies operating in Portugal,” and that Beijing “welcomes Portuguese companies to take part in the Chinese market, so that an increasing number of competitive Portuguese groups can enter the Chinese market.” (macauhub)