Portuguese Foreign Minister Conducts Economic Diplomacy

After taking power in June of last year, Portugal’s center-right coalition government announced that the country would adopt “a new national strategic priority: a very strong economic diplomacy.” Since then, Portugal’s foreign minister, Paulo Portas, has made it abundantly clear that the “economic diplomacy is the first institutional priority of the Ministry of Foreign Affairs.”

The primacy given to economic diplomacy is also perceived as “a countercyclical policy, which gives resistance to the Portuguese economy.” The top four exporting markets of the last ten years — Spain, Germany, France and the United Kingdom — are all European countries, and they are the destiny of more than 50 percent of the Portuguese exports — and the overall exports to the European Union account for 70 to 75 percent. Read more “Portuguese Foreign Minister Conducts Economic Diplomacy”