China and Portugal Strengthen Economic Ties on 20th Anniversary of Strategic Partnership

Strategic Insights -

China and Portugal marked the 20th anniversary of their comprehensive strategic partnership, reaffirming their commitment to deepen economic and trade cooperation and promote long-term development of their economic and trade relations. The two nations emphasized the importance of supporting the multilateral trading system with the WTO as its core, injecting stability and certainty into the world economy. In a meeting between Chinese Minister of Commerce Wang Wentao and Portuguese Minister of Economy and Territorial Integration Almeida, they expressed their desire to expand practical cooperation in various fields, including trade, investment, and innovation.

Key Takeaways:

  • China and Portugal aim to deepen economic and trade cooperation, expanding pragmatic cooperation in various fields, including trade, investment, and innovation.
  • The two countries will support the multilateral trading system with the WTO as its core, injecting stability and certainty into the world economy.
  • China is willing to continue to tap the potential of bilateral trade and promote the steady and long-term development of China-Portugal economic and trade relations.
  • Portuguese Minister Almeida welcomed more Chinese companies to invest in Portugal and expressed a desire to strengthen practical cooperation in various fields, including trade and investment.
  • China and Portugal will strengthen communication and coordination, supporting enhanced cooperation between the EU and China, and jointly safeguard free trade and the multilateral trading system.

Statistics:

  • 20 years: The length of time since the establishment of China and Portugal's comprehensive strategic partnership.
  • 2 countries: The number of nations reaffirming their commitment to supporting the multilateral trading system with the WTO as its core.
  • China-Portugal economic trade relations: The focus of the two countries' cooperation, aiming for steady and long-term development.
  • WTO: The core of the multilateral trading system, with China and Portugal committed to supporting its stability and certainty.
  • Portugal's desire is to strengthen practical cooperation in various fields, including trade and investment, involving more Chinese companies.

Sources:

  • Minister of Commerce of the People's Republic of China
  • Contify.com (2021)