“Triangular” relationship between Macau, China and Lusophone countries is “positive and virtuous”

“Triangular” relationship between Macau, China and Lusophone countries is “positive and virtuous”
Published in 3 July, 2018

The president of the Agency of Foreign Trade and Investment of Portugal (AICEP) stated this Wednesday that the “triangular” relationship between Macau, China and the Portuguese speaking countries is “positive and virtuous”, contributing for the increase in exportation and investment.

Luís Castro Henriques, speaking to Lusa about the meeting of businessmen for the Economic and Commercial Cooperation between China and the Portuguese-speaking Countries (PSC) that began on the 21st of June, highlighted the importance of this “triangular” relationship with several years of history as “positive and virtuous” for the countries involved.

About the meeting, Henriques stated that it is “relevant” not only to promote more exportation from Portugal – to China or to the PSC – but also to capture investment. “We have seen cases of Chinese companies that choose Portugal and Portuguese companies to later work together in Portuguese-speaking countries”, he stated.

On Thursday around 20 protocols will be signed, two of which with AICEP seeking to “promote and narrow the relations with Chinese institutions to (…) have a prompt channel to work together in this issue” of the PSC and China, he added.

The President of AICEP further stated that China “has been showing a relevant growth in terms of exportation”, but made clear that there are still products which “don’t have the accessibility” that Portugal would wish for, namely meat and other agricultural products.

Questioned about the impact of the trade “war” between China and the United States, Henriques says “it is still early” to anticipate the consequences, but recognized that this tendency toward “commercial protectionism” is not in Portugal’s interests. “The more globalization develops, the more favorable a small economy like ours is”, he stated, emphasizing that Portugal has “full interest in the possibility to access a diverse number of markets”.

The meeting, which took place on the 20th and 21st of June in Lisbon, will bring together businessmen and representatives of financial and governmental institutions from China, Angola, Brazil, Cabo Verde, Guinea-Bissau, Macau, Mozambique, Portugal, São Tomé e Príncipe and East Timor.