The Prime Minister believes that Portugal needs to strengthen and reorganize its value chains in the face of current international instability and states that South Korean companies can be important partners, particularly in the fields of renewable energy and semiconductors.
This national foreign policy objective was conveyed to the Lusa bureau by António Costa before embarking on a two-day visit to South Korea between Tuesday and Wednesday, which will primarily have an economic agenda.
“The instability we face globally has shown us the need to strengthen and reorganize our value chains. We believe South Koreans and Portuguese can complement and strengthen each other”declared the leader of the executive branch.
António Costa arrives in Seoul on Tuesday morning, accompanied by the Ministers of Economy, António Costa Silva, Science, Elvira Fortunato, Infrastructure, João Galamba, and the Secretary of State for Foreign Affairs, Francisco André, in a visit that will be the first by a Portuguese head of government since António Guterres was in South Korea in 2000.
“It will be important to strengthen our political relations. In the very challenging times we live in, it is important to be able to count on partners like South Korea”he pointed it out.
On the economic front, the Prime Minister expressed his belief that there are several national sectors that could generate interest for South Korean companies, such as renewable energy, semiconductors, critical raw materials or the automotive industry.
“The field of renewable energy is an area where Portugal has a lot of experience and knowledge. There are Portuguese investments in the Republic of Korea and South Korean investments in Portugal. We have an ambitious strategy, as we plan to generate 60 billion euros by 2030 “marked.
In the field of solar energy, for example, according to António Costa, Portugal plans to “significantly increase its available capacity, more than nine gigawatts of integration by 2030”.
“And we have plans to install ten gigawatts of capacity for offshore wind energy, which will be auctioned later this year. Semiconductors are also an area where we believe Portugal has the conditions to be a relevant gateway for South Korean companies that strive to increase their growth.” the resilience of the semiconductor value chain as a whole”to maintain.
Regarding the auto industry, the leader of the Portuguese executive said he believed Korean companies “could benefit from Portugal’s experience in innovation and green urban mobility”.
“Green hydrogen also has a lot of potential, as its proximity to water and attractive energy costs are strategic assets that are attracting the attention of multiple investors, who want to produce hydrogen from solar and wind energy, especially in Sines”defended.
António Costa also emphasized that “Portugal has the largest lithium reserves in Europe and the eighth largest in the world”.
“We are the seventh largest producer of lithium in the world and the first in Europe. In 2023, we will launch six public tenders for the prospection of lithium and we want to drive the development of integrated value chains for critical raw materials”he added.
Source: DN
