H.E. Almeida: Portugal a Diplomatic Trade Hub

Portugal believes in multilateralism and offers a safe, stable destination for trade, investment, and tourism, stated H.E. Mr. João Ribeiro de Almeida, Ambassador of Portugal to India, at a reception hosted by MVIRDC World Trade Center Mumbai and the All India Association of Industries (AIAI). Marking 50 years of re-established diplomatic ties between India and Portugal, the Ambassador emphasized the two countries’ enduring relationship, which spans over 500 years.

Highlighting Portugal’s transformation from a colonial past to a forward-looking partner, the Ambassador said the relationship now encompasses key sectors such as pharmaceuticals, automotive, technology, life sciences, marine, wellness, nanotechnology, cultural cooperation, and start-ups. “We want to reaffirm our growing partnership with Mumbai, a city with deep historical ties to Portugal,” he added.

To further strengthen bilateral business and tourism, Mr. Almeida shared that Portugal is considering easing visa regulations to support business mobility. He expressed hope that the upcoming India-EU trade agreement will further boost commercial ties. “Portugal can be a second home for Indian investors,” he remarked.

Mr. Miguel CM Crespo, Economic and Trade Counsellor to India, highlighted Portugal’s diversified and resilient economy. “Portugal and India not only share cultural roots but a shared vision for future innovation-driven collaboration,” he noted, also referencing the symbolic significance of Porto, famous for its port wine, as a bridge to greater engagement.

Dr. Vijay Kalantri, President of AIAI and Chairman of WTC Mumbai, observed that current India-Portugal trade has crossed USD 1.5 billion and could double in five years. He urged Indian businesses to leverage Portugal as a manufacturing and trade gateway to Europe. He also recalled the visit of Hon’ble Prime Minister Shri Narendra Modi and Lok Sabha Speaker Shri Om Birla to Portugal, during which 11 MoUs were signed across vital sectors including science, technology, space, innovation, and start-ups.

Capt. Somesh Batra, Vice Chairman of MVIRDC WTC Mumbai and Hon. Consul of Portugal, emphasized Portugal’s vibrant economic landscape and global footprint. He identified key sectors like marble, wine, and tourism as promising areas for collaboration and called for deeper engagement based on existing bilateral frameworks.