Portugal eyes investment in various sectors in Vietnam

15:20 | 07/12/2016 Cooperation

Secretary of State of Foreign Affairs and Cooperation Teresa Ribeiro stated that Portugal wishes to invest in sectors of its strength such as tourism, infrastructure construction, renewable energy and particularly marine economy in Vietnam.

portugal eyes vietnams infrastructure marine economy
Head of the CPV Central Committee’s Commission for External Relations Hoang Binh Quan meets with Chairman of the Portuguese Parliamentary Committee for External Relations Sergio Sousa Pinto - Photo: nhandan

The statement was made during her reception for a delegation led by Head of the Communist Party of Vietnam (CPV) Central Committee’s Commission for External Relations Hoang Binh Quan who is attending the 20th Congress of the Communist Party of Portugal in Lisbonne from December 2-4.

Two sides discussed measures to tighten the bilateral relations in all fields including economy, politics and culture. They pledged to increase exchanges between their businesses and investors, thus promoting economic-trade and investment cooperation between the two nations. In 2015, the two nations’ trade value was estimated at 400 million USD. It is expected to reach 1 billion USD in the coming time.

They also suggested the two countries organise frequent political consultations and support each other in training, while agreeing to work together in the tri-party cooperation framework with a country in the Portuguese-speaking community, such as Angola, Mozambique, or Timor Leste.

On the same day, Quan had a working session with the Portuguese Parliamentary Committee for External Relations. Vietnam and Portugal have recently witnessed a remarkable progress in their relationship, with regular exchanges and meetings between the two communist parties.

Chairman of the committee Sergio Sousa Pinto highlighted the significance of the Europe-Vietnam free trade agreement (EVFTA) to both Vietnam and the EU, pledging that Portugal will consider the ratification of the deal soon. His country will play an active role in accelerating the EVFTA approval, bringing Vietnam and the EU closer together..

Phuong Nga