China, Portugal to upgrade economic cooperation


Beijing—China and Portugal on Monday vowed to upgrade economic cooperation by enhancing investment and trade and exploring the third-party market.
The pledge came as Chinese Premier Li Keqiang held talks with his Portuguese counterpart Antonio Costa at the Great Hall of the People in Beijing.
Hailing the two countries’ economies as highly complementary, Li called on both sides to realize the potential of cooperation and link China’s Belt and Road Initiative with Portuguese development.
Li encouraged the two countries to consolidate and explore the third-party market and multilateral cooperation with Portuguese-speaking countries, and enhance cooperation in areas such as agriculture, infrastructure and auto manufacturing.
“We can combine China’s market potential and advantages in equipment manufacturing with Portugal’s advanced technology to create long-lasting and mutually beneficial cooperation,” Li said at a press conference with Costa.
Both countries can create new growth points in the sectors of energy connectivity, renewable energy and clean energy, Li told Costa, calling on both side to be committed to trade and investment liberalization.
Li said he believed that Portugal will provide a better investment environment and better legal safeguards for investors, including Chinese entrepreneurs.
Costa, who is here for a five-day official visit that started Saturday, said Portugal was willing to maintain high-level visits with China, jointly promote third-party market cooperation and deepen investment and trade cooperation in areas such as energy, finance, port and railway construction, agriculture and tourism.
Portugal encourages Chinese enterprises to give full play to their advantages in production capacity and technology, and explore cooperation of the new energy industry, under the Belt and Road Initiative, Costa said.
The two countries signed a Memorandum of Understanding on enhancing third-party market cooperation.
Both countries also called for more diplomatic and cultural exchange, with the signing of documents to open direct flights from Beijing to Lisbon, and the establishment of each other’s cultural centers in both countries.
On the political front, Li said the bilateral relations have undergone stable and healthy development in the past 37 years since the two forged diplomatic ties.
The two countries realized the smooth handover of Macao from Portugal to China in 1999 via negotiation, which set a good example for countries to deal with historical issues and opened a new chapter for China-Portugal ties, Li said.—Xinhua