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Lisbon eyes enhanced Chinese investment as President Xi visits Portugal
2018/12/05 10:10:45
China's News, China's Financial News, President Xi , Portugal

Dec 05, 2018 (China Knowledge) - Chinese President Xi Jinping and Portuguese President Marcelo Rebelo de Sousa have agreed to promote cooperation between the two countries in order to open up a new chapter in the development of China-Portugal relations. Chinese President Xi Jinping arrived in Portuguese capital Lisbon, for a two-day visit, earlier yesterday.

President Xi seeks to boost economic ties with Portugal through cooperation agreements, despite growing concern in some of the EU capitals over China's growing influence in the continent.

China is expected to ink a deal that will bring Portugal's southwestern port of Sines into the sphere of Chinese Silk Road project. President Xi has mentioned Portugal to be an important hub in the Belt and Road Initiatives (BRI).

The Portuguese President has also stressed on beefing up bilateral cooperation in several sectors including trade and investment.

Portugal, witnessed an economic downfall after the 2008 global financial crisis and is looking up for Chinese investment for economic recovery. Investments from China has accounted for 3.6% of the country GDP between 2010 and 2016, according to the figures released by the Spanish ESADE business school. 

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