The world is entering a “new globalization”, as the former Minister of Economy, Pedro Reis, considers. Or “we are heading towards a duopoly” in which “the relationship between China and the USA will be structuring”, as lawyer António Vitorino understands. And what impact will this new reality have on Portuguese exporters? Even more so when the objective is to increase sales abroad so that, by 2030, exports can account for 60% of GDP as aimed at in Portugal Export +60’30, a project promoted by the Portuguese Business Association (AEP) and Novo Banco.
These were, in fact, some of the topics discussed this morning at the conference that marks the start of the third edition of this joint project and which was joined by another former Minister of Economy, Manuel Caldeira Cabral, as well as Luís Ribeiro, administrator of Novo Banco, and Luís Miguel Ribeiro, president of the Portuguese Business Association (AEP). These are the main conclusions.
New world reality
- Portuguese companies really need to look at the new global reality and invest more in innovation, high technology and in the training and requalification of workers.
- Even Defense “is inseparable from artificial intelligence (AI)”, says António Vitorino, for whom the increased investment that Europe presented in this area “is an excellent opportunity” for Portuguese companies and industry.
Luís Ribeiro, administrator of Novo Banco, and Luís Miguel Ribeiro, president of AEP
Nuno Fox
- Luís Ribeiro guarantees that commercial banking is more robust and can help companies that have good projects, and remembers that there are European funds available for those who want to innovate and create value-added products.
- However, there are a series of other challenges that companies will have to learn to deal with, such as the new tariffs of over 15% that US President Donald Trump has imposed on products imported from Europe. Or with the growing importance that the European market has for China’s exports, notes Luís Miguel Ribeiro.
- It is, therefore, inevitable to have “an active government”, says Manuel Caldeira Cabral, which creates mechanisms so that companies can invest in innovation.
- And also have a government that works to reduce taxes for companies, as mentioned by Pedro Reis and Luís Miguel Ribeiro. “Fiscal policy cannot penalize those who want to grow”, he concludes.
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