Welcome to the Official page of the Presidency of the Portuguese Republic

I would like to begin by congratulating the Portuguese (AICEP) and Chinese (CCPIT) agencies promoting investment and foreign trade for organizing this excellent initiative, which has enabled meetings and discussions between entrepreneurs, fostering partnerships and providing an understanding of the economic reality and business environment in both countries.

I welcome and thank all the speakers, entrepreneurs and participants for their presence.

China, a venerable country with strong traditions and an ancient culture, plays a unique role in world history. Present day China surprises us with its ability to combine its centuries-old traditions with a process of structural change based on economic and entrepreneurial development and a strong strategy of internationalization.

China is today a successful economy. I have followed with great interest the efforts made and solutions adopted to affirm China’s position as a successful partner in the global economy.

China has been changing very rapidly, through its own merit and force, into one of the greatest exponents of economic growth worldwide.

China is in vogue. Its energy and vitality, its size, the audacity and perseverance of its entrepreneurial fabric attract, naturally, the World’s attention and, certainly, Portugal’s as well. It is now a country of strategic interest to Portuguese companies.

The potential for cooperation is enormous and I hope that my Visit will contribute to strengthening the economic and entrepreneurial relations between our two countries.

In this regard, I must stress the opportunity that this Seminar and the Business Meetings represent for promoting investments and new partnerships. Primarily, because they provide for closer contact between Chinese and Portuguese entrepreneurs and senior level representatives. They contribute, thus, to a better understanding of what is currently taking place in China and Portugal.

Our countries and our economies are very different in size and, geographically, are far apart. However, if we can create a positive climate of trust between our companies, respectful of our cultures and identities, we will be able to establish genuine partnerships of mutual interest, not only in a bilateral context, but also oriented towards third markets.

In addition to its status as a Member State of the European Union, and the close proximity and good relations with the countries of North Africa, Portugal also maintains special ties with sub-Saharan Africa - where countries such as Angola and Mozambique speak Portuguese and maintain strong political, economic and cultural connections with our country. The same applies to South America, where we find our special bonds of friendship with Brazil and easy relations with the countries of the Atlantic axis.

Portugal today is also an important Atlantic gateway into Europe. The Port of Sines is the first European deep-water port on the access routes from the east, whether they come via Africa or through the Panama Canal.

Following the global financial crisis of 2008, Portugal has committed to an ambitious and comprehensive program of economic, financial and fiscal adjustment. After just three years of its implementation and nearing its completion, there are two points that I would like to highlight.

First, the vast majority of established objectives and proposed measures were completed and implemented; and second, the fiscal adjustment and structural changes in the Portuguese economy were very significant. We regained the confidence of our partners and the international financial markets.

The results of the implementation of the adjustment program are beginning to appear and boost domestic confidence, a situation that both our partners and the markets have recognized and appreciated.

The signs of the last twelve months have been very encouraging indeed. Since the 2nd quarter of 2013, the economy has been growing.

Unemployment has fallen. In foreign markets, Portuguese companies have shown a remarkable ability to adapt, and continue to gain market shares, especially outside Europe. Currently, exports now account for 40 percent of GDP, compared to about 30 percent in 2010. The balance of our external accounts was positive in 2013, a situation that should be strengthened in the current year.

Since mid-2013 the interest rates on the Portuguese government debt has decreased significantly. The Country has resumed the issuing of medium and long-term bonds in international markets. It’s worth emphasizing that the interest rates on 10-year bonds are now around 3,5 per cent.

We know it is essential to maintain the pace of structural reforms and that economic growth must be based primarily on private, domestic and foreign investment, and on exports.

We are determined to provide a stable and attractive business environment for those who invest in Portugal. In this sense, essential reforms are underway in labour relations, justice, licensing and corporate taxation. Portugal also benefits from a new and interesting European program to support investment, directed especially towards SME's, and for innovation and competitiveness.

The companies joining me on this State Visit to the People’s Republic of China truly represent the best and most dynamic of Portugal and have successful experiences of internationalization in various countries. I could gladly talk about the individual qualities of each of the companies present, but I know that the business leaders have done, or will do, a much better job than I.

Portugal now has a new generation of companies, with strong entrepreneurial, innovative and technological capacities. Many are developing differentiated products and services aimed at new segments of demand in the world market: in electronics, in information technologies, in the area of renewable energies, in the pharmaceutical industry, in the automotive and aerospace industry, and in software applications for management or manufacturing processes.

I would highlight the areas of technological management, preservation and environmental rehabilitation, planning, urban enhancement and urban management, as well as energy efficiency and infrastructure, all of which are areas where Portuguese companies have already proven themselves worldwide.

Also accompanying me are several companies representing the so-called "traditional industries", such as footwear, textiles and clothing, furniture, agri-food and wine, among others. With a vast accumulated experience, they have learned to reinvent themselves and have gained a strong commercial position in international markets.

The tourism sector deserves a special mention. Portugal is a destination of recognized quality. The ever-present sunshine and light, the pleasant weather, hospitality and safety, along with an extensive coastline of outstanding beauty, are the strengths of our tourism trade.

The different regions, in the richness and diversity of the built heritage, as well as the local traditions, festivals and processions, make Portugal a unique tourist destination.

On top of all this, add a large accommodation capacity, not only in terms of hotels but also in terms of long stay or residential apartments, complemented by a quality network of health support, fine cuisine and excellent golf courses, which are worth getting to know and enjoying. In this respect, it should be noted that in recent years, many Chinese citizens have sought residency in Portugal.

Portugal finds itself today, in specific market segments, at the global forefront. China, for its part, is on an unstoppable path of development and can find in Portugal strategic partnerships that add competitive critical mass in third markets.

Though separated by distance, each on their side of the World, together we can create value, for our mutual benefit.

It is with this conviction that I conclude. But not before conveying to you the sincere hope that the work of this Seminar and the meetings provide a significant contribution to Chinese and Portuguese entrepreneurs, reinforcing the harmony and friendship between China and Portugal.

Thank you.