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

It is with great pleasure that I am taking part in the opening of this business seminar being held in the vibrant city of Seoul. The Republic of Korea and Portugal are two countries geographically far apart but with a heritage of many centuries of history, culture and tradition in common.

I welcome and thank all the participants for their presence, with a special word of acknowledgement to those who organized this meeting. A meeting which I see as an excellent occasion for making the economic reality of Portugal and Korea better known, for stimulating business dialogue and also for revealing partnership and investment opportunities in our countries.

Today, Portugal and Korea are advanced economies, whose development is based on capacity building through qualified human resources, on high standards of business management and on the ability to transform new ideas, knowledge and technology into products and services.

Portugal has been a fully-fledged member of the European Union since 1986 and a founding country of the Eurozone. The Free Trade Agreement between the European Union and Korea opened up new prospects and opportunities for reinforcing cooperation and trade between the two economic areas.

Ladies and Gentlemen,

Besides the European Union area and the proximity to, and good relationship with, the North African countries, Portugal has especially close relations with sub-Saharan Africa, maintaining strong political, economic and cultural ties with countries such as Angola and Mozambique.

In Latin America, our longtime bonds with Brazil and friendly relations with countries from the so-called Atlantic belt are well known. Portugal is also a member of the Ibero-American Community of Nations and an observer to the Pacific Alliance.

It is worth noting that Portuguese is the most widely-spoken language in the Southern hemisphere, as well as the official language of a number of countries with high growth potential.

Today, Portugal is a major Atlantic gateway to Europe. The Portuguese port of Sines, an Atlantic deep water port, is a high quality facility with a strategic Atlantic European location. The country offers high quality logistics services, due to its modern road, port and airport infrastructures.

Our geographical profile gives us a key – and unique – positioning, but other advantages also exist in Portugal which can prove particularly attractive to Korean companies wishing to invest in Europe. To begin with, a wide base of highly qualified human capital, trained in areas such as Engineering and Business Management.

A new generation of highly enterprising, technologically developed and innovative Portuguese companies has emerged. Many of them are developing products and services for new segments of demand in the worldwide market.

The country also offers very competitive operating costs in the European context and quite simple business procedures. It is the European country where it is quickest and the most simple to form a company. The Portuguese companies which are present here already operate in international markets and may well expand and develop their activity, both in Korea and in third countries, in partnership with Korean counterparts.

A number of Korean companies have made industrial investments in Portugal, notably in the areas of advanced mould manufacturing and renewable energies. Nevertheless, the Portuguese economy and its competitive advantages continue to be widely unknown to the majority of Korean companies. This needs to be changed.

Let me also say that Portugal is a tourist destination renowned for its quality. The constant sun and light, the pleasant climate, the hospitality and safety, along with an extensive, beautiful coastline, are some of the strengths of our tourist offering. The large selection of accommodation, a high quality health care network, a fine cuisine and the excellent golf courses are other attractions for anyone looking for destinations of excellence.

Ladies and Gentlemen,

In the last three years, Portugal has gone through a very challenging period. The response was collective and showed a huge sense of responsibility. Portugal made an enormous effort towards budgetary consolidation and structural reform, with a view to rebalancing the economy and increasing its competitiveness. Against this background, Portugal managed to successfully conclude the economic and financial adjustment programme agreed with international institutions.

In my first official visit to Korea, I am seeking to provide greater visibility into Portugal's economic reality and potential. It is time for the institutions, associations and companies of our countries to get to know each other better, to strengthen ties and work together, so that we will be reaping the harvest of a closer and more fruitful relationship in the near future.

I hope that my presence in your country and at this seminar will contribute to reinforce and stimulate investment and trade relations with Portuguese companies.

Thank you very much.