Companies in the metal, automotive and wine sectors see potential for growth, while the textile industry warns that the country will be "more competitive than China is at the moment".
In a world where international trade faces increasing barriers, the agreement between the European Union (EU) and India has been received with great enthusiasm by Portuguese business representatives, who highlight the opportunities for diversification to enter a market with “enormous size and potential”, with 1.5 billion people. Industries such as metallurgy and metalworking, automotive and wine see potential for growth, but warn that the impact will not be visible in the near future. The textile industry, on the other hand, speaks of a competitor worse than China, which could steal market share from Portuguese companies.
A week after the United States once again threatened European countries with additional tariffs, this time linked to Greenland, the EU signed the “mother of all trade agreements” with India. The pact marks yet another effort by the EU to open up opportunities in other regions and create “a free trade area of two billion people”, as highlighted by European Commission President Ursula von der Leyen.
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