Portugal PM wants closer economic ties with India - The Hindu BusinessLine
The State of India (Portuguese: Estado da Índia), also referred as the Portuguese State of India or simply Portuguese. Costa highlighted various aspects of the Indian diaspora in Portugal, their deep ties with Goa and growing bilateral relationship. Relations with Portugal today remain close, friendly and devoid of irritants. Diplomatic relations between India and Portugal were established in but.
This is exactly where Portugal comes into the equation. Portugal can be one of the contenders to fill the void left by Britain. Still, Portugal offers a good business environment, well-developed physical and IT infrastructure and a favorable climate for both short term and long-term investment.
It takes around 46 minutes to set up a business there compared to 89 days in India. Its strategic location can make it a promising gateway to the European common market. Importantly; Portugal also has one of the lowest labor and operational costs in Western Europe. With India emerging as a rapidly growing major economy and Portugal increasingly looking at key developing countries like India for enhancing trade and investment since the economic crisis ofboth countries are looking to deepen economic engagement.
With Portugal and India sharing similar priorities in terms of boosting domestic economic growth, investment, employment, industry and innovation, there are several sectors with complementarities where partnerships can be forged to mutual benefit, such as: Bilateral Trade has been growing steadily during the past few years. However, saw a decline in bilateral trade by Bilateral trade last year further fell by- Indian exports to the EU also declined by 9.
Major articles of export from India include: Major articles of import from Portugal are Machinery and Mechanical Appliances; Electrical machinery and equipment; plastics; organic chemicals; copper and articles; paper; raw hides and skins etc.
In terms of institutionalised agreements, a bilateral Agreement on Trade, Economic, Industrial and Technical Cooperation was signed into facilitate and enhance trade.
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The EEP has been extended for another three years from InIndia was among the top 5 countries for inbound tourism into Portugal. Electronic Tourist Visa facility has been extended to Portugese nationals since 27 November and is expected to further increase tourist flows into India. Architectural restoration, hotel industry, tourist services, maintenance of heritage sites and tourism infrastructure are potential sectors of bilateral collaboration in the strategic dimension, India and Portugal must work together to meet across Africa.
On the maritime front, the security of the Indian Ocean begins in the Atlantic, and vice-versa, demanding greater cooperation and coordination. The Portuguese, Brazilian, Angolan, Mozambican and Indian navies should establish a closer dialogue and joint exercises with a focus on out-of-area deployment, non-conventional maritime threats such as piracy, and other security trends in the Southern Indo-Atlantic region.
Similarly, Portugal and India have vast experience in contributing personnel and resources to United Nations-mandated peacekeeping missions in Angola, Mozambique and Timor-Leste. This is one of the issues to be discussed during my visit to India. But let me also underline that we are deeply engaged in implementing the Joint Declaration on fighting terrorism as one of the major outcomes of the EU-India Summit of March How is Portugal considering to enhance economic partnership with India.
Portugal will always be a strong advocate of India in Europe: PM António Costa - The Economic Times
Two countries with such excellent political relationships deserve an enhanced economic partnership. India and Portugal have complementary economies and can take advantage of being part of different regions and markets. In this context we have identified areas where bilateral cooperation can be enhanced, such as science and technology, infrastructures, renewable energy, startups, agriculture and food processing, water and waste management, tourism, pharmaceuticals, automotive products and defence.
What are expectations from forthcoming PM trip? What will be big ticket outcome from this trip? Our countries have a centuries-old relationship based on historical, cultural and personal ties. We want to renew and adapt this relationship to address both present and future challenges.
After having normalised our relations, we want to enhance them and extend them to a strategic partnership with ambitious targets in new areas of cooperation. Is India and Portugal hoping to elevate ties to strategic partnership. As I told you already, we would like to update and upgrade our bilateral relationship, taking advantage of our shared history, mutual trust and complementarity, in order to develop a result-oriented partnership.
We consider that, on the one side, India may take advantage of the Portuguese experience in areas in which Portugal has made big investments in the recent past, such as renewable energies, infrastructures and environmental industries related to water, sewage and garbage collection, areas that can be very relevant for India.
There are also sectors in which both countries have developed know how and in which closer cooperation can bmedical research, aerospace or mobility. We can also explore closer ties in startups. For India it may be interesting to take advantage of Portugal as a platform to address markets in Europe and Latin America or even in Africa.
These are examples but what is really important is to strengthen the ties between our business communities and then opportunities will appear.
The day India freed Goa from Portuguese rule
As in other sectors, we believe that there is enough potential for enhancing our cooperation in the area of defence. The Defence Minister is coming with me to India to explore concrete projects in this field and sign a bilateral agreement with his Indian counterpart, which will serve as the basis for future commercial initiatives, joint ventures and technology transfer. How can Portugal contribute in strengthening Indo-EU ties.
First of all, let me recall the decisive role that Portugal has played in strengthening Indo-EU ties, namely by hosting the first ever EU-India Summit and co-chairing another Summit during the Portuguese EU presidencies in andrespectively. Hence Portugal has been and willremain a strong advocate of India in Europe. We also favour the deepening of the political dimension of the relationship through enhanced cooperation in foreign policy, security and human rights.
We also can see positive challenges in enhancing cooperation in other issues of key mutual interest, such as energy, climate change, mobility and migration, science and technology, environment, skills development, urban development, education and cultural exchanges.
Finally, we also support all efforts towards a possible return to negotiations in order to conclude an ambitious EU-India Free Trade Agreement.
It will be a key driver for growth and jobs for both sides. From our perspective, the implementation of the Agreement is running efficiently. We do not see, therefore, the need for a renegotiation or any kind of amendment to the Agreement on Extradition.