Portugal seeks enhanced trade cooperation with Saudi Arabia

Portugal is keen to play an active economic role in promoting trade cooperation between Saudi Arabia and the countries of Europe, and South and North America.

19 October 2016

JEDDAH: Portuguese Deputy Foreign Minister and Minister of International Trade Jorge Costa Oliveira expressed his country’s willingness to play an active economic role in promoting trade cooperation between Saudi Arabia and the countries of Europe, and South and North America. 

He expressed this during a meeting on Sunday with officials of Jeddah Chamber of Commerce and Industry (JCCI), including Vice Chairman Mazen Batterjee; Sheikh Fahad bin Saiban and Imed bin Abdul Kader Mohadeeb, JCCI board members; and Hassan bin Ibrahim Dahlan, newly appointed secretary-general of the JCCI.

Oliveira said Portugal has the potential to attract foreign investment; for this, the required legislation is in place for stimulating investment, due to its strategic location as a gateway to Europe, Africa, America and the Middle East. Thus, it has the chance to expose Saudi products to a large number of countries in the world, in addition to its cultural ties with countries that speak Portuguese and markets such as Brazil, Angola and Mozambique.

He also noted the positive transformation and economic growth that has occurred in the Portuguese economy is due to economic reform measures that have been taken by the government, where the government has adopted a development plan for 2020 with an aim to raise Portugal’s gross domestic product by fisheries, marine resources and agricultural systems.

Portuguese Ambassador Dr. Manuel Carvalho said the Portuguese trade delegation and officials of the JCCI reviewed joint investment opportunities to contribute and boost the cooperation between the private sectors in both countries.

Saudi Arabia and Portugal have seen a lot of positive developments in the relationship in all fields in the past years.

Carvalho said Portugal has a desire to push trade and investment relations with the Kingdom to the highest levels, with common interests that bind the two countries.

He expressed his aspiration to strengthen and increase joint investments between Saudi Arabia and Portugal, as the two countries are enjoying special advantages with the potential of encouraging investment.

Mazen Batterjee also expressed the continued desire of both sides to consolidate mutual relations between them, and build bridges of cooperation, especially in economic matters.

Batterjee emphasized the exchange of delegations between the two countries to explore investment opportunities, and stressed that Saudi businessmen and their counterparts in Portugal should take advantage of investment opportunities and consolidate trade relations to serve common interests.

The bilateral meetings will help in creating more joint opportunities in investment, especially in the areas of construction,  telecommunications, energy, health services, fiber optics, design and development of energy, the organization of exhibitions and events, the food and plastics industries, banking, real estate and others.

© Arab News 2016

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