Portugal seeks to enhance economic cooperation with China

4 May 2015

The Secretary of State for Economic Affairs of Portugal, Leonardo Mathias, is due Tuesday to begin an eight-day visit to China to “enhance cooperation” with a “significant investor” in Portugal and an ” important trading partner”.

“Bilateral economic relations have remarkable dynamism and growth in many sectors. In 2008, China was our 28th trading partner and it is now the 12th,” Mathias told Portuguese news agency Lusa.

Mathias is the first member of the Portuguese government to visit China in 2015, the year that marks the 10th anniversary of the Luso-Chinese “global strategic partnership” agreement.

Mathias is travelling with a delegation of the Portuguese Food and Economic Safety Agency (ASAE), headed by its Inspector General, Pedro Portugal Gaspar, and after Beijing will visit the Special Administrative Regions of Macau and Hong Kong.

In Beijing, in addition to his counterpart from the Ministry of Trade, Leonardo Mathias will meet with heads of large companies with interests in Portugal, namely China Three Gorges, which is now the largest shareholder of EDP – Energias de Portugal and the multinational telecommunications equipment group Huawei.

The programme also includes meetings with the Chinese counterpart of ASAE and meetings at the Wanda Group, the private consortium that is investing in the European real estate sector, and the CIC (China Investment Corporation), the Chinese sovereign wealth fund.

In recent years, Portugal has been one of the main destinations of Chinese investment in Europe, after the UK, Germany and France, with the amount of Chinese capital absorbed by the Portuguese economy since 2011 estimated at over 10 billion euros. (macauhub/CN/PT)