QATAR - Diplomacy
Prime Minister, Republic of Portugal
António Costa has been the Prime Minister of the Republic of Portugal since November 2016. He has 24 years’ experience of political activity and has been the Secretary General of the Socialist Party of Portugal since 2014. In Portugal, he was the Mayor of Lisbon between 2007 and 2015, and was first elected MP in 1991. In 2004, he assumed the Vice-Presidency of the European Parliament, and has a long experience in the Council, in the European Parliament, and in the Committee of the Regions.
Our political and diplomatic relations have traditionally been good. A few years ago, diplomatic relations between the two countries were upgraded by the reciprocal opening of respective embassies in both capitals. However, there is still room for improvement at the economic and cultural levels. Our aim is to keep reinforcing these relations, and this is a common goal. My visit and the visit of His Highness the Emir of Qatar to Portugal in July will certainly contribute to reinforcing our bilateral ties, and I am certain other positive impacts will result from the launching of direct flights between our capitals, which Qatar Airways has announced.
In the economic area, the greatest potential for improvement lies in trade and investment. Portugal’s economy is open, our conditions to attract foreign investment are competitive, and we not only offer a market of 10 million people, but also access to the largest market in the world, the European Union. Furthermore, we are ready to cooperate with Qatar in regions such as Brazil and the Portuguese-speaking countries in Africa, with which we have long historic ties and a consolidated economic presence and deep knowledge.
In 2016, bilateral trade was only USD46 million, which represented an increase of about 15% compared to 2015. Portuguese exports of goods to Qatar increased 61% in 2016 and increased by almost 31% in the first three months of 2017. This reveals the interest of Portuguese companies in this market. In 2015, almost 250 Portuguese companies exported to Qatar. Therefore, we see a great deal of opportunities in Qatar.
Despite the good political relationship, the economic relations between the two countries are almost incipient. We have in place a set of institutional agreements that provide the framework for private companies to do business. However, we need to stimulate them, as there are many mutually beneficial opportunities to explore. Qatar may take advantage of the Portuguese experience in areas in which Portugal has made large investments in the recent past, such as renewable energies, construction, infrastructures, health, and environmental industries related to water, sewage, and garbage collection. Qatari investors have important stakes in EDP and Vinci Portugal, and there is a recent case of an important Qatari investment in the Portuguese touristic sector. Besides tourism, many opportunities exist, for instance, in real estate investment and urban renewal and development. Qatar may also find it interesting to consider Portugal as a platform to address markets in Europe, Latin America, or Africa. There is definitely room for many mutually beneficial partnerships between Portuguese and Qatari companies to explore business opportunities that contribute to diversify the Qatari economy. The Portuguese government is also keen to help in that effort by exchanging experiences with Qatari authorities in areas such as start-up policy, public administration modernization, or innovation policy. Lisbon has hosted last year and will host in the coming years the Web Summit, Europe’s largest tech event. We expect more than 60,000 participants in November, hopefully also from Qatar.
Qatar has played an important role in the development and stabilization of the Gulf and the entire region. We are certain that role will continue and that Qatar will reinforce its important role worldwide.
By sponsoring our events you are able to best participate in the discussions that matter to you, as well as gain unique networking opportunities.