A delegation of the Free Trade Zone of Tianjin, a city located in the northeast of China, is in Portugal with the goal of establishing a “green lane” for Portuguese companies that wish to export to that country. Wine, olive oil, pork and canned food are some of the sectors with advanced contacts for the use of the Free Trade Zone of Tianjin.
The Chinese delegation, which will be in Portugal until the 22nd of June, has meetings scheduled with the vice-president of the municipal chamber of Cascais, Miguel Pinto Luz, and the president of the municipal chamber of Porto, Rui Moreira, as well as meetings with economic groups.
This free trade zone offers a set of advantages. Among them is the introduction of the “single line” concept for international trade, a scenario which will reduce the time products spend in customs by 50% and reduce costs by 30%.
The Free Trade Zone of Tianjin occupies an area of 120 squared kilometers, has an international airport, a deep water port and a business and financial center. The city is the fourth biggest in China, with around 15 million inhabitants.