Monday, 10 Dec 2018
World

China strengthens its presence in the EU with Portugal's agreements

LISBON, Portugal – Portugal joins the Chinese initiative "One Belt, One Road", which offers loans for the construction of major infrastructure projects.

Despite the mistrust of the other capitals of the European Union in the face of the Beijing strategy, the Portuguese government endorsed this project during a 24-hour visit by Chinese President Xi Jinping.

The two countries signed on Wednesday a memorandum of understanding on cooperation under China's modern Silk Road initiative, which focuses on transport connections and energy.

Xi described Portugal as "an important hub in the land and sea silk routes."

The Portuguese government wants China to help develop Portugal's largest Atlantic port and Portugal's energy company Energias abroad, among other things.

The two countries have signed 17 cooperation agreements. They included joint technology research opportunities in the energy and communications sectors.

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