| Bilateral Trade Between China and Portugal Developed Rapidly |
| Wednesday,January 12,2005 Posted: 08:51 BJT(0051 GMT) |
|
Portuguese President Jorge Sampaio shall make a state visit to China at invitation. At present, officials from Department of European Affairs of MOFCOM introduced the current relations between China and Portugal. Bilateral relations between China and Portugal developed steadily since the establishment of diplomatic relations in 1979. In 1979, bilateral trade was only US$200 thousand, in 1993 it broke through US$100 billion for the first time and in 1997 broke through US$200 million, in 2000 reached US$300 million and in 2003 even amounted to US$600 million. In the first 11 months of 2004, the bilateral trade between China and Portugal amounted to US$786 billion, up by 48% on a year-on-year basis. Of which exports were US$525 billion and imports US$261 billion, up by 45% and 55% respectively. With the high-speed growth of bilateral trade, two way investment made a new development. By the end of Nov. 2004, the number of investment projects from Portugal to China were 94 with a commitment of US$160 million and actual use reached US$100 million. By the end of Dec. 2004, China totally invested 5 projects with a value of US$3.16 million. (Source: Network Center of MOFCOM) |
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