Original Report: www.globaltimes.cn(full story)
The strengthening economic and trade cooperation between China and Portugal, as highlighted by Portuguese Ambassador to China, Paulo Jorge Nascimento. The two countries are celebrating the 45th anniversary of their diplomatic relations, and Portugal is actively participating in the 2024 China International Fair for Trade in Services to showcase its potential for Chinese investment. Over the past 12 to 15 years, China has become a significant investor in Portugal, with nearly 70% of announced foreign direct investment in 2023 coming from Chinese companies. This has created a positive experience for both Chinese and Portuguese firms, laying the groundwork for future collaborations.
Portugal, as a participant in the Belt and Road Initiative, offers strategic geographic advantages for trade with South America and Africa. Nascimento emphasizes the potential for green development cooperation between Portugal and China, given both countries’ expertise in transitioning to greener economies. While China has substantial energy needs, Portugal has excelled in renewable energy, sourcing 61% of its energy from renewables last year. The ambassador believes that the cooperation in green development can lead to joint projects and technological advancements that support efforts against climate change, benefiting both nations’ companies.
