China-Portugal trade at a new high

CCTV News

xinhua Chinese President Xi Jinping (R) meets with Portuguese Prime Minister Antonio Costa in Beijing, capital of China, Oct. 8, 2016. (Xinhua/Wang Ye)

Chinese Premier Li Keqiang will attend the opening ceremony of the fifth Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries.

Portuguese Prime Minister Antonio Costa will also be present. It comes as new figures show how trade between the two countries is at a new high.

CCTV’s Dan Williams looks at the developing relations between the two countries.

Trade between China and Portugal at a new high

Trade between China and Portugal at a new high

Chinese Premier Li Keqiang will attend the opening ceremony of the fifth Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries. Portuguese Prime Minister Antonio Costa will also be present. It comes as new figures show how trade between the two countries is at a new high.

Despite the scars of the recent financial crisis, business in Portugal is once again starting to flow.

One of the key reasons for that is due to closer trading ties with China. And Politicians here are keen to boost that relationship further.

Trade between Portugal and China has increased dramatically. In recent years, only the United Kingdom, Germany, and France have received more Chinese investment in the Euro-zone.

One of the Portuguese companies making the most of the improved trade links with China is Santos and Santos.

When the financial crisis hit, this family-run wine estate focused on new overseas markets. Now 20 percent of their sales revenue comes from China.

Latest figures indicate that trade between China and Portugal jumped a further 20 percent in the first six months of the year.

Many here are confident that trend will continue.

Portugal still has many financial challenges ahead, but the country is working hard to find solutions.