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National day of Portugal celebrated

ISLAMABAD, MAY 20 (DNA) -Joao Paulo Sabido Costa Charge d Affaires, Embassy of Portugal has said  relations between Portugal and Pakistan are  now growing and improving very fast.

During 2016 we have witnessed an evident increase in trade ties, namely with regard to our exports. Several initiatives were meanwhile launched, as the Pakistan Portugal BusinessCouncilof the Federation of Chambers of Commerce and Industry, or the Pakistan Portugal Business Forum that has been created in Portugal.

He expressed these views while speaking on the occasion of the National Day of Portugal. Federal Minister for Human Rights Kamran Michel was the chief guest.

Mr. Costa further said there was an awakening in our main economic institutions regarding the potential of Pakistan and as result many business and investment opportunities have been identified.

I should say that our political relations were always good, practically since the independence of Pakistan. Portugal opened an Embassy in Karachi very early after the independence which was later transferred to Islamabad, where it is now.

Since 2012 there is a new incentive for non EU nationals to invest in Portugal commonly known as Golden Visa. This is in fact a Residence Permit for Investment Program that enables the holder to obtain a temporary residence permit to conduct business activities, he added.

Portugal has undeniable know how in the area of renewable energy, as well as of hydroelectric power. That is an advantage recognized by our Pakistani counterparts at all levels and can provide a promising field of cooperation.

 If we keep in mind, for example, the potential in Pakistani territory in respect of  wind and solar energy, we will have to admit that both our countries and economies can cooperate and greatly benefit from such ventures.

He said, the business climate in Pakistan is definitely improving with the opening of the country to the world, as well as with the bettering of the security situation.

It is undeniable, also, that the China Pakistan Economic Corridor that will link China to the Arabian Sea, will be a regional game changer and will offer many business and investment opportunities, also to Portuguese companies. =DNA


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