Portugal is one of the UK’s strongest allies, a member of the European Union (EU), World Trade Organisation (WTO) and the Organisation for Economic Co-operation and Development (OECD) amongst others. Last year the UK was Portugal’s 7th largest supplier of goods, with sales recorded at £1.7 billion.
A high – income economy, Europe’s westernmost country possesses a sophisticated and highly developed infrastructure with strong links to nearly 300 million Portuguese speaking consumers worldwide.
Portugal’s former colonies include Brazil, Angola and Mozambique, some of the World’s fastest growing markets with access to vast natural resources and holding key geo-political positions.
Top Portuguese companies are now seeking growth through exports and are already delivering projects in Brazil, Angola and Mozambique.
The Eurozone member has a double taxation agreement with Brazil and is currently negotiating another with Angola; also in the pipeline are bilateral investment promotion and protection agreements with Angola and Mozambique.
With mature connections to many emerging economies, Portugal is widely regarded as a strategic gateway to some of the World’s most exciting economies, where doing business can be challenging, acquisition or joint venture projects are not a viable option and a local Portuguese – speaking partner essential.
At home the Portuguese government is currently slashing red tape and bureaucracy – to a degree unmatched anywhere else in Europe. The economy is expected to exit the European crisis in the short – medium term. A wide-ranging privatisation and re-industrialisation programme is forecast to draw significant new investment.
The electrical grid, post office network, airports, deep sea ports (where cargo arrivals rose 22% last year), railways and metro systems are just a few of the many public utilities Lisbon has put up for sale.
According to the World Bank, Portugal is currently ranked the 30th easiest country to do business in and 33rd least corrupt nation by Transparency International.
Download are country guide below for more information on Portugal’s key economic sectors, partnering opportunities with Portuguese companies, public contracts, business culture and etiquette, events and useful contacts.
Enterprise Europe Network has nine offices in Portugal to help you find new business partners and access opportunities in market. Contact us for more details, firstname.lastname@example.org or call 0845 641 9955 (option 2).
Topics: Getting Started and Market Research