Portugal looks at ASEAN to revive trade

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Jorge Torres Pereira, Portugal’s ambassador to Thailand

European Union member Portugal wants to be “more active” in Thailand and other ASEAN nations in an attempt to push trade relations with the region.

According to the country’s ambassador to Thailand, Jorge Torres Pereira, Portugal wants to focus on “non-traditional markets outside the EU”.

“We know that [future] growth will be outside Europe,” Pereira told Thailand-based newspaper The Nation.

Thailand and other countries in Asia had become “more and more important”, he added, with the ASEAN Economic Community further increasing the attractiveness of  the region. For example, Portugal could form “triangular ventures with Thailand” to access the Myanmar market, Pereira said.

The embassy plans to set up a trade mission in Thailand in the first quarter of 2013 to promote trade, service and investment and also to raise awareness towards investment opportunities for Portuguese entrepreneurs in Thailand.

The mission will focus on sectors that will most likely be covered by a future free-trade agreement between the EU and Thailand. Potential sectors are tourism, green energy including solar and wind power, innovative industries, machinery production including research and development, agricultural industries, food, paper, textiles and garments, as well as wine trading.

In turn, Thai investors should look at opportunities for investments in Portugal, Pereira said, as they would not only gain access to 10 million people in Portugal itself, but also to 240 million in Portuguese-speaking countries such as Brazil and Angola.

According to the embassy, Portuguese exports to non-traditional markets rose significantly by 23 per cent during the first 11 months of 2012 compared with the same period in 2011. Shipments to non-EU markets accounted for 25 per cent of total export value. Overall exports grew by 7.7 per cent in the first 11 months, while imports diminished by 5 per cent. The country has been significantly affected by the EU debt crisis, having received bailout funds of €61 billion so far and is currently running an austerity programme to bring its economy in shape again.

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Reading Time: 2 minutes

Jorge Torres Pereira, Portugal’s ambassador to Thailand

European Union member Portugal wants to be “more active” in Thailand and other ASEAN nations in an attempt to push trade relations with the region.

Reading Time: 2 minutes

Jorge Torres Pereira, Portugal’s ambassador to Thailand

European Union member Portugal wants to be “more active” in Thailand and other ASEAN nations in an attempt to push trade relations with the region.

According to the country’s ambassador to Thailand, Jorge Torres Pereira, Portugal wants to focus on “non-traditional markets outside the EU”.

“We know that [future] growth will be outside Europe,” Pereira told Thailand-based newspaper The Nation.

Thailand and other countries in Asia had become “more and more important”, he added, with the ASEAN Economic Community further increasing the attractiveness of  the region. For example, Portugal could form “triangular ventures with Thailand” to access the Myanmar market, Pereira said.

The embassy plans to set up a trade mission in Thailand in the first quarter of 2013 to promote trade, service and investment and also to raise awareness towards investment opportunities for Portuguese entrepreneurs in Thailand.

The mission will focus on sectors that will most likely be covered by a future free-trade agreement between the EU and Thailand. Potential sectors are tourism, green energy including solar and wind power, innovative industries, machinery production including research and development, agricultural industries, food, paper, textiles and garments, as well as wine trading.

In turn, Thai investors should look at opportunities for investments in Portugal, Pereira said, as they would not only gain access to 10 million people in Portugal itself, but also to 240 million in Portuguese-speaking countries such as Brazil and Angola.

According to the embassy, Portuguese exports to non-traditional markets rose significantly by 23 per cent during the first 11 months of 2012 compared with the same period in 2011. Shipments to non-EU markets accounted for 25 per cent of total export value. Overall exports grew by 7.7 per cent in the first 11 months, while imports diminished by 5 per cent. The country has been significantly affected by the EU debt crisis, having received bailout funds of €61 billion so far and is currently running an austerity programme to bring its economy in shape again.

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