YOU’VE GOT A FRIEND
The oldest diplomatic alliance in the world, Portugal and the UK continue to nurture their strong ties in the pursuit of common opportunities.
BIOGRAPHY
The oldest diplomatic alliance in the world, Portugal and the UK continue to nurture their strong ties in the pursuit of common opportunities.It has become somewhat of a cliché, but a necessary one, to recall the Treaty of Windsor of 1386, which makes the Portugal-UK relationship thelongest-standing diplomatic alliance in existence between two countries in the world. More importantly, the relationship is still strong and vibrant. The ties between our countries are deeply rooted in culture and anchored in the vivid and growing communities of Portuguese here in the UK and British expats in Portugal.
As we prepare for Brexit, I want to recognize the invaluable contributions both communities provide to their country of residence. Both must be respected. Those who moved on the premise of freedom of movement should not be uprooted by Brexit. We must turn Brexit into an opportunity for both our countries to deepen our special relationship both politically and economically.
The important thing now is to minimize the negative consequences of Brexit and develop a relationship as close as possible with the UK. The European project is one of peace and progress, but also of opportunity. And it will continue to be. British businesses will continue to cross the Channel in search of profit, as will our own. Portugal has for centuries been a preferred destination of the British on the Old Continent. The UK is our largest source of tourists, our fourth-largest export market, and our fourth-largest source of FDI. That preference continues to this day. British investment in Portugal grew at a faster pace than EU investment in Portugal over the past two years. And over the last year, it multiplied by five. In the wake of Brexit, many companies have chosen Portugal to be their second home in Europe.
These are the dividends of a special relationship nurtured over centuries, and they pay both ways. Today the opportunities for investing in Portugal are even greater because we are committed to the European project and are a living symbol of recovery from economic, financial, and social crises. Portugal is growing faster than Europe. Employment and investment growth are double the average of the EU and unemployment is falling faster than in any other eurozone country.
GDP grew by 2.7% in 2017. This growth allowed for a 0.9% public deficit, the lowest in our democratic history. Primary surplus was 3% and public debt fell more than 4 percentage points of GDP. We have left the excessive deficits procedure, and our sovereign debt is no longer junk-rated. Our current account balance is in surplus. Stabilizing the financial sector was a key priority for this government. Today, confidence and resilience are back to the financial sector and country.
In innovation, we are going above and beyond. Through December 2017, we approved support for almost 3,000 collaborative innovation projects worth almost EUR600 million. Recently, we launched six collaborative labs that bring together businesses and researchers to set priorities for the research agenda. We also issued new funding for sector-level technological centers, which have been the driving force behind innovation and entrepreneurship in traditional sectors.
In Portugal, you will always find a friend of Britain and British businesses, not to mention a safe harbor and fertile ground for your investment. Indeed, to British businesses I say—by opening in Portugal you can have a two-in-one; Brexit in the UK and Remain in the EU by investing in Portugal. Just as history proved before there even was an EU, and just as we will prove together after Brexit, Britain and Portugal can grow together.
YOU’VE GOT A FRIEND
TABLE OF CONTENTS
Focus: Community of Portuguese Language Speaking Countries
Making an Impact
Established in 1996, the Community of Portuguese Language Speaking Countries (CPLP) is a mechanism geared at linking and sharing the experience of Lusophone countries. Besides Portugal, this includes Brazil, Portugal, Cape Verde, Angola, Mozambique, Guinea-Bissau, and São Tomé and Príncipe.
read articleFocus
Don’t Mind the Disruption
Having won the 2017 Eurovision Song Contest, Lisbon hosted the 2018 event. The relevance? Well, the contest began back in 1956 as a showcase not only of song, but of then-nascent live television broadcast technology. Today, Portugal is on the cutting edge of new technological developments.
read articleInterview
João Pedro Soeiro de Matos Fernandes , Minister , Environment and Energy Transition
The Ministry for the Environment and Energy Transition is focusing on decarbonizing the economy, valuing the territory and its habitats, and striving for a more circular use of the country's resources.
read articleInterview
António Braz Costa , General Manager, Portuguese Technological Centre for the Textile & Clothing Industries (CITEVE)
CITEVE has transformed the industry by promoting value addition, adopting the latest technologies, and ensuring the highest standards of environmental sustainability.
read articleFocus: New airport
Right Time to Seize Missed Opportunities
Portugal has seen its air traffic figures increase by as much as 80% in the last five years. As a result, its transportation infrastructure, and Lisbon's airport in particular, cannot cope with the rising numbers. A new airport project that will turn a military base into a commercial airport is now under discussion to bring much-needed relief to air traffic.
read articleInterview
Germano de Sousa , President, Grupo Germano de Sousa
Grupo Germano de Sousa's success can best be summed up by its understanding that science and medicine only really progress when technological development is combined with a deeper respect for human values and professional ethics.
read articleInterview
Isabel Capeloa Gil , Rector, Universidade Católica
Having pioneered the introduction of multiple subject areas to Portugal's tertiary education scene, Universidade Católica is aspiring to establish the country's first private medical school and introduce cutting-edge digital transformation.
read articleInterview
Carlos Guillén Gestoso , President, Escola Universitária de Ciências Empresariais, Saúde, Tecnologias e Engenharia & President, Atlantica University
Atlantica University differentiates through its company-university model and an MBA program in partnership with the University of California, Berkley, among other initiatives, to produce practical theoreticians.
read articleFocus: Public teaching staff
An Age-old Problem
Over a decade of austerity measures combined with an ageing population have seen the average age of the Portuguese public teaching staff progressively climb to one of the highest in the OECD. With frozen salaries, an extended retirement age, and precarious working conditions, today the sector faces one of its biggest challenge yet.
read articleInterview
Pedro Queiroz , General Manager, Federation of the Portuguese Agri-Food Industry (FIPA)
Portugal's economic recovery has seen its F&B sector emerge with annual turnovers of EUR16 billion, thanks to FIPA's undeterred focus on stable policies, excellent nutrition standards, and sustainability.
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