50th anniversary ‘milestone’ of re-established diplomatic relations
Mumbai: Portugal believes in ‘Multilateralism’ and is a safe investment destination for trade, investment and tourism, Mr Joao Ribeiro de Almeida, Ambassador of Portugal to India, said while marking the 50th anniversary of re-establishing diplomatic relations between India and Portugal as a “milestone” that reflected the strength of their economic and cultural ties.
Addressing the All India Association of Industries (AIAI) and MVIRDC World Trade Centre, Mumbai recently, Almeida said Portugal was keen to strengthen the bilateral ties in regard to the 500-year legacy of long-standing historical relations with India.
“There is a historical connection between Portugal and Mumbai, as an influential city name besides historical and cultural contacts, that highlights reaffirming our growing partnership to attract investment in Portugal,” he said, while noting that this partnership has evolved from a colonial legacy to a modern, forward-looking cooperation across strategic areas like pharmaceutical, automotive, technology, life sciences, wellness, tourism, marine, research, nanotechnology, cultural cooperation, startups and other sectors.
The Ambassador noted that Portugal – while encouraging tourism and investment opportunities – is also considering ‘easing’ visa regulations to support business mobility and investment. “Today we need to strengthen our ties in the field of innovation in the new global world of business and investment opportunities, and once the India-EU agreement is signed by India, it will boost India-Portugal commercial ties,” he added.
Underscoring Portugal’s stable and diversified economy with particular strengths in exploring business between the two countries for mutually-beneficial ventures, Miguel CM Crespo, Portugal’s Economic and Trade Counsellor to India, said “India and Portugal share a rich cultural bond, rooted in history, but our future lies in global cooperation and innovation to build a foundation for tomorrow.”
Highlighting the symbolic significance of ‘Porto’ – the Portuguese city known for its iconic port wine, Crespo expressed optimism for future collaboration in various areas.
Dr Vijay Kalantri, President, AIAI, and Chairman, WTC Mumbai, said that today trade has surpassed $1.5 billion and can double in the next five years in view of the various opportunities offered by Portugal in the field of sectors featuring Indian expertise.
Noting that “Portugal can also be used as a hub for manufacturing and expanding trade across Europe and other countries,” he said Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla had visited Portugal, while PM Modi’s visit had witnessed signing of 11 MOU’s, especially in important sectors including science and technology, innovations, space, youth and sports, and startups.
