"China has an inescapable role as a trading partner and investor in Portugal" – Jornal Econômico

The governor of the Bank of Portugal (BdP) said this Friday in Macau that China is a commercial partner and investor unavoidable at national level.

"Economic and social progress in the PRC over the last 30 years is impressive. Globally, all countries have, in one way or another, noted the impacts of China's trade and investment dynamics, "Carlos Costa told a session of the 10th Infrastructure Investment and Construction Forum (IIICF) in English), which ends today in Macau.

"In the case of Portugal, China assumes an indispensable role as a trading partner and more recently as a source of foreign investment," the governor said.

Carlos Costa recalled that, "currently, the presence of Chinese investment is large and goes to key sectors such as the financial sector, banking and insurance, energy production and distribution, the health sector and the real estate sector," adding that the influx of Chinese tourists is also "of growing relevance and importance".

"The combination, on the one hand, of the economic growth of China's presence on a global scale and, on the other hand, the strong relationship between the Portuguese economy and those of other Portuguese-speaking countries creates mutually advantageous synergies for all partners," he said.

"We have all won by strengthening this partnership and Macao is a crucial link between these countries on the continents: Europe, Asia and Africa, particularly through the financial component," he concluded.

The governor's remarks were made during a conference that brought together central bank governors and finance officials from China and Portuguese-speaking countries.

This year's edition of the forum has more than 2,000 entrepreneurs, academics and politicians, including more than 50 governors from 40 countries and regions, in an event whose budget is estimated at 39 million patacas (4.3 million euros) and is promoted under the guidance of the Ministry of Commerce of the People's Republic of China and the Government of Macao.

The IIICF includes 36 parallel forums, exhibitions, project promotion seminars and contact exchanges, among other commercial negotiation activities, to operationalize the cooperation between the countries involved in the strategy adopted by the Chinese government called "One Track, One Route" which aims to develop infrastructures and investments in European, Asian and African countries.

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