With organizations like AICEP spearheading efforts to expand Portugal’s footprint in international trade, it is clear that the nation is embracing a future deeply intertwined with the global economy.

One of the most striking elements of Portugal’s internationalization strategy is its comprehensive approach. Through AICEP’s extensive network, spanning around fifty global markets with multiple offices in economic powerhouses like the U.S. and China, Portuguese entrepreneurs have access to invaluable resources. These include support for navigating complex international trade landscapes and finding new opportunities abroad. It is heartening to see a national strategy that not only focuses on large corporations but also extends its reach to small and medium enterprises (SMEs), helping them integrate into international value chains.

The focus on sustainability and e-commerce further demonstrates Portugal’s forward-thinking approach. As the global economy increasingly prioritizes environmental and digital transformation, the country's initiatives—like the ESG PME Exporters program and the PRR-backed "Internationalization via E-Commerce" measure—equip businesses with tools to lead in these areas. It is fascinating to see how Portugal is positioning itself as a hub for sustainable and digital business practices, fostering innovation while addressing global challenges like climate change.

Events like the Millennium Portugal Exporter 2024 showcase how Portugal actively promotes its businesses on the global stage. With over 120 exhibitors, fourteen embassies, and representatives from key export sectors, the event creates a dynamic environment for networking and collaboration. The inclusion of workshops, thematic discussions, and sector-specific spaces ensures that businesses gain practical insights and tools for expanding internationally. What stood out to me is the event's effort to decentralize this year, moving to Santa Maria da Feira, thereby reaching companies that may not have previously engaged with such initiatives.

The emphasis on Portugal’s export-oriented sectors, such as agro-food, textiles, metalwork, and tourism, reveals the country’s strategic focus on leveraging its strengths. These industries, often considered traditional, are evolving to align with modern global demands, integrating advanced technologies and sustainable practices. This shift not only boosts their competitiveness but also solidifies Portugal’s reputation as a dependable trade partner on the international stage.

The data speaks volumes: exports of goods and services now account for roughly 50% of Portugal’s GDP, and foreign direct investment (FDI) constitutes around 70% of the economy. These numbers reflect a nation deeply integrated into global trade networks. However, this success does not come without challenges. As the global economy faces uncertainties and fragmented trade dynamics, Portugal’s focus on diversifying markets and fostering innovation becomes even more critical.

What resonates most is the commitment to long-term goals. By encouraging the production of high-value goods and the incorporation of innovative technology, Portugal is not just reacting to current global trends but actively shaping its future role in the world economy. Initiatives to strengthen intellectual property protection and align policies with global standards further highlight this initiative-taking mindset.

In a world where global connections are more vital than ever, Portugal’s example serves as an inspiring model of how a relatively small country can achieve noteworthy influence through strategic internationalization. It is a story of ambition, resilience, and the belief that local talent, when supported by the right structures, can thrive on the global stage.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes