Trade tensions between Europe, the United States and China present an opportunity for Portugal to attract Chinese industrial investment, said Bernardo Mendia, Secretary-General of the Portugal-China Chamber of Commerce and Industry, in Beijing on Tuesday.
Speaking to Lusa on the sidelines of Portuguese Prime Minister Luís Montenegro’s visit to China, Mendia highlighted several sectors in which Chinese companies are competitive and that align with European priorities, such as the energy transition.
“Renewable energy, electric vehicles, batteries, energy storage, technologies associated with 5G and artificial intelligence are areas where Portugal should extend a hand and take advantage of having Macau as a bridge,” he said.
The European Commission has imposed tariffs of up to 35 per cent on Chinese electric vehicle manufacturers to prevent unfair competition arising from state subsidies. This has created an incentive to relocate production to Europe. Chinese manufacturer BYD plans to open a new factory in southern Hungary, in an investment estimated at €4 billion. China has already invested more than €10 billion in Spain, particularly in electric vehicles and green energy.
CALB (China Aviation Lithium Battery), one of China’s largest battery manufacturers, confirmed last February a €2 billion investment in Portugal to build a lithium-ion battery factory in Sines as part of its European expansion strategy.
