Portugal proposes ‘Pakistan Business Forum’

LAHORE: The Ambassador of Portugal to Pakistan, Paulo Domingues, has proposed organizing a Portugal-Pakistan Business Forum during the upcoming visit of Portugal’s Minister for Foreign Affairs to Pakistan later this year, saying that the platform would bring together companies, investors, financial institutions and public authorities from both countries to transform business opportunities into concrete partnerships.

Addressing the Lahore Chamber of Commerce and Industry (LCCI), he said the proposed forum should be organized jointly by the Embassy of Portugal, the LCCI, the Honorary Consulate of Portugal and other stakeholders to open a new chapter of economic cooperation between the two countries.

The ambassador said the rapidly changing global economy, reconfigured supply chains and growing search for reliable business partners have created fresh opportunities for Portugal and Pakistan to work together as complementary economies rather than competitors.

He highlighted Portugal’s strengths as a modern, innovative and export-oriented economy, exporting to more than 200 markets worldwide and enjoying international recognition in textiles, footwear, renewable energy, engineering, information technology, pharmaceuticals, agribusiness, food industries, tourism, automotive components, furniture, design and cork products.

Ambassador Domingues said Portugal offers investors political stability, legal certainty, a highly qualified workforce, world-class infrastructure and privileged access to the European Union’s market of around 450 million consumers. He added that Portugal also serves as a strategic bridge to Africa and Latin America through its longstanding historical, political and economic relations, particularly with Portuguese-speaking countries.

He said Portugal can become not only Pakistan’s gateway to Europe but also its strategic hub for expanding business across Europe, Africa and Latin America, offering Pakistani companies a unique platform for international growth.

Reaffirming the Embassy’s commitment to promoting economic diplomacy, Ambassador Paulo Domingues said the Embassy of Portugal would continue facilitating business contacts, identifying investment opportunities, connecting companies and supporting practical cooperation between the private sectors of both countries.

LCCI President Faheem Ur Rehman Saigol welcomed the ambassador and said that Pakistan and Portugal have enjoyed cordial diplomatic relations since 1949 and there exists tremendous untapped potential to expand bilateral trade, investment and industrial cooperation.

He said, according to the State Bank of Pakistan, bilateral trade between Pakistan and Portugal reached approximately 226 million dollars during 2024-25, with Pakistan’s exports amounting to around 206 million dollars against imports of about 20 million dollars. He said Pakistan’s exports to Portugal are mainly concentrated in textiles and apparel, agricultural products, leather goods and surgical instruments, but there is considerable potential to diversify exports by promoting information technology services, pharmaceuticals, engineering products, processed foods, sports goods, home appliances, halal food products and value-added agricultural products.

The LCCI chief stressed the need for stronger business-to-business engagement through exchange of trade delegations, participation in international exhibitions and organization of joint investment forums.

Copyright Business Recorder, 2026