From table grapes to 5G: here’s what China and Portugal have agreed on

  • ECO News
  • 7 December 2018

Jinping's visit to Portugal was rather fruitful. In total, 17 different deals were signed between companies and institutions from both countries, going anywhere from 5G connections to table grapes.

The Chinese President visited Portugal this week, and this two-day visit was certainly a productive one for both countries, business wise.

China showed interest for Portugal over the last few years, in several areas of the Portuguese industry, having become a hefty investor in the country. And the relationship between both countries keeps getting stronger.

17 cooperation agreements were signed between both parties, 10 of which are memorandums of understanding, with the strengthening of the bilateral relationship becoming very clear.

“Wine, olive oil and friends, the older the better”, the President of the PRC quoted a Portuguese saying in one of his speeches, to reinforce the idea of the longstanding relationship between Portugal and China.

Here are the series of agreements signed between China and Portugal:

  • Belt and Road Initiative (Portugal was invited to participate in the BRI, China’s new Silk Road initiative)
  • AICEP and COFCO create 150 new jobs in Matosinhos
  • CGD and Bank of China issue “panda bonds”
  • BCP will issue Union Pay credit cards
  • REN and State Grid go further in their cooperation
  • CTG and EDP sign an agreement on social responsibility
  • MEO e HUAWEI will cooperate on 5G
  • STARLAB will take Portugal into space
  • More cooperation on the services trade level
  • Cultural festivals will be prepared next year
  • RTP will make documentaries on China
  • Portuguese grapes enter the Chinese market
  • Water cooperation agreement
  • Porto: New Confucius Institute will be established at the University of Porto
  • Coimbra: New Chinese Studies Centre
  • Tekever and Chinese Science Academy explore the oceans together (4D, monitoring technologies, ocean protection)
  • Setúbal will cooperate with Tianjin city council