Shafay for strengthening economic ties with Portugal

Our Correspondent

Published Date: July 9, 2026

Published On: The News Pakistan

Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain has called for transforming Pakistan-Portugal relations into a strong economic partnership, saying the existing friendly ties between the two countries should now be translated into enhanced trade, investment and industrial cooperation.

He expressed these views while addressing the Portugal National Day ceremony held at a local hotel as the chief guest.The ceremony was attended by Portuguese Ambassador to Pakistan Paulo Domingues, Consul General Iftikhar Feroz, Consuls General of Türkiye and China, diplomats and members of the business community. The minister, along with the Portuguese ambassador and other dignitaries, cut a cake to mark the occasion and congratulated the government and people of Portugal on their national day.

Addressing the ceremony, Shafay Hussain said it was a matter of honour for him to participate in the National Day celebrations of Portugal as the chief guest. He said Pakistan and Portugal enjoy cordial relations, but the time has come to transform this friendship into stronger economic and trade cooperation.

He said there was enormous potential for expanding bilateral cooperation in multiple sectors, adding that enhanced people-to-people contacts were essential for promoting economic ties between the two countries. He identified industry, agriculture, tourism, textiles and surgical instruments as key areas where Pakistan and Portugal could further strengthen collaboration.

The minister said he believed not only in signing Memorandums of Understanding (MoUs) but also in ensuring their effective implementation. He added that practical work had already started on several agreements signed during his visits to China.Shafay said that, for the first time in Pakistan’s history, manufacturing of Vivo mobile phones and chip frames would begin in Punjab. He highlighted that Special Economic Zones in the province offered attractive investment opportunities and world-class facilities for investors.

He informed the participants that the Punjab government had introduced a Land Lease Policy under which industrial land could be obtained on lease or rental basis for setting up factories. He added that investors would have to establish their industrial units within two years of acquiring plots in industrial estates.

Inviting Portuguese investors to invest in Punjab, the minister assured them of full facilitation and support from the provincial government for establishing businesses in the province.Portuguese Ambassador Paulo Domingues said Pakistan and Portugal enjoyed relations based on friendship and mutual trust, but economic cooperation between the two countries needed further expansion. He said Portugal could serve as a gateway for Pakistan to access markets in Africa, Europe and other regions.He stressed that converting business opportunities into strong economic partnerships was the need of the hour.